SHIB Leapfrogs DOGE, PEPE, BONK, Soars 55% In 24 Hours

Published 02/03/2024, 07:46
Updated 02/03/2024, 08:15
SHIB Leapfrogs DOGE, PEPE, BONK, Soars 55% In 24 Hours
PPSP
-
DOGE/USD
-
SHIB/USD
-

Coin Edition -

  • SHIB’s flat price action broke out and flipped the minor resistance at $0.00001345.
  • The 4-hour chart indicated that SHIB’s rise has not been stopped by any bearish candlestick.
  • Bullish momentum and high volatility could fuel SHIB’s increase toward $0.000030.

Shiba Inu (SHIB), the dog-themed meme coin skyrocketed by 55% in the last 24 hours, data from CoinMarketCap showed. SHIB’s price at press time was $0.00002001 while its trading volume jumped above $4 billion.

The price increase and soaring volume implied that demand for the token has been increasing. Previously, meme coins like Dogecoin (DOGE), Pepe (PEPE), and Bonk (BONK) registered the highest price jump in the category.

Is the Local Top Close?

According to on-chain analysis tool ‘Santiment’, capital has been rotating into Shiba Inu’s ecosystem. Beyond that, Santiment posted that social dominance around SHIB, and these other meme coins have been incredible.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.