Shiba

2024

Bitcoin

Dogecoin

Shiba Inu

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 <p class="paragraph">Amid a wild ride for the majority of assets in the cryptocurrency sector this week that has seen Bitcoin (BTC) soar above the critical price level at $62,000, dog-themed meme crypto assets Shiba Inu (SHIB) and Dogecoin (DOGE) are recording double-digit advances.</p>
 <p class="paragraph">Indeed, the overall optimism in the crypto industry, which has pushed its total market capitalization to $2.34 trillion, has not only assisted in the flagship decentralized finance (DeFi) asset’s rally but has also led the two meme coins to advance over 25%, alongside other positive developments.</p>
 <figure class="wp-block-image"><img decoding="async" width="892" height="575" src="https://cdn.thebittimes.com/images/2024/02/29/9a35565c0e30034d207dac5dfa1c255e.webp" alt class="wp-image-157876" srcset="https://cdn.thebittimes.com/images/2024/02/29/9a35565c0e30034d207dac5dfa1c255e.webp 892w, https://cdn.thebittimes.com/images/2024/02/29/9a35565c0e30034d207dac5dfa1c255e.webp 300w, https://cdn.thebittimes.com/images/2024/02/29/9a35565c0e30034d207dac5dfa1c255e.webp 768w" sizes="(max-width: 892px) 100vw, 892px">
  <figcaption class="wp-element-caption"><em>Total crypto market cap 12-month chart. Source: </em><em>CoinMarketCap</em>
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 <h2 class="wp-block-heading" id="h-shiba-inu-price-analysis">Shiba Inu price analysis</h2>
 <p class="paragraph">As it happens, Shiba Inu, Dogecoin’s largest competitor, has raced a massive 23.52% in a single day, increasing its price from $0.000011147 to $0.00001377 during this time, according to the most recent chart information retrieved by Finbold on February 29.</p>
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <figure class="wp-block-image"><img decoding="async" width="1200" height="800" src="https://cdn.thebittimes.com/images/2024/02/29/3dfdf5eda356b7f81de9a673e1bb02a6.webp" alt class="wp-image-157877" srcset="https://cdn.thebittimes.com/images/2024/02/29/3dfdf5eda356b7f81de9a673e1bb02a6.webp 1200w, https://cdn.thebittimes.com/images/2024/02/29/3dfdf5eda356b7f81de9a673e1bb02a6.webp 300w, https://cdn.thebittimes.com/images/2024/02/29/3dfdf5eda356b7f81de9a673e1bb02a6.webp 1024w, https://cdn.thebittimes.com/images/2024/02/29/3dfdf5eda356b7f81de9a673e1bb02a6.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px">
  <figcaption class="wp-element-caption"><em>Shiba Inu 24-hour price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Indeed, SHIB’s current price also represents a gain of 43.40% across the previous seven days, in addition to advancing 48.40% in the last month, as its market capitalization soared by a whopping $1.46 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> in a single day to the current $7.95 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="918" height="292" src="https://cdn.thebittimes.com/images/2024/02/29/90a9f1aaff96c96b83d584e990327134.webp" alt class="wp-image-157873" srcset="https://cdn.thebittimes.com/images/2024/02/29/90a9f1aaff96c96b83d584e990327134.webp 918w, https://cdn.thebittimes.com/images/2024/02/29/90a9f1aaff96c96b83d584e990327134.webp 300w, https://cdn.thebittimes.com/images/2024/02/29/90a9f1aaff96c96b83d584e990327134.webp 768w" sizes="(max-width: 918px) 100vw, 918px">
  <figcaption class="wp-element-caption"><em>Shiba Inu market cap 24-hour chart. Source: CoinMarketCap</em>
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 <p class="paragraph">Aside from the general upturn in the cryptoverse, Shiba Inu’s gains are coinciding with the SHIB team introducing a new privacy-enhancing tool known as Fully Homomorphic Encryption (FHE), which facilitates full on-chain data protection to members of the community.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Our latest partnershib is a BIG one. Pay close attention to why Encryption and Privacy are important to the Shib Ecosystem and state! #SHIB #Zama #FHE https://t.co/ZFoJaRJpJE</p>— Shytoshi Kusama (@ShytoshiKusama) February 28, 2024
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 <h2 class="wp-block-heading" id="h-dogecoin-price-analysis">Dogecoin price analysis</h2>
 <p class="paragraph">At the same time, the favorite crypto of Tesla (NASDAQ: TSLA) CEO Elon Musk, Dogecoin, has recorded an even more impressive daily gain of 30.38%, during which its price went from $0.09935 to surpassing a critical resistance at $0.10 and ending up at $0.12953 at the time of publication.</p>
 <figure class="wp-block-image"><img loading="lazy" decoding="async" width="1200" height="800" src="https://cdn.thebittimes.com/images/2024/02/29/314dcd82f16fde342522a0a053632fc4.webp" alt class="wp-image-157878" srcset="https://cdn.thebittimes.com/images/2024/02/29/314dcd82f16fde342522a0a053632fc4.webp 1200w, https://cdn.thebittimes.com/images/2024/02/29/314dcd82f16fde342522a0a053632fc4.webp 300w, https://cdn.thebittimes.com/images/2024/02/29/314dcd82f16fde342522a0a053632fc4.webp 1024w, https://cdn.thebittimes.com/images/2024/02/29/314dcd82f16fde342522a0a053632fc4.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px">
  <figcaption class="wp-element-caption"><em>Dogecoin 24-hour price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Additionally, the above price indicates a massive weekly advance of 52.87% for the popular puppy-themed crypto, adding up to the 58.88% gain on its monthly chart, in addition to $4.04 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> flowing into its market cap in a day, which presently amounts to $18.19 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>, as per data on February 29.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="918" height="292" src="https://cdn.thebittimes.com/images/2024/02/29/ab179d93f571318fcf2942a0e9350203.webp" alt class="wp-image-157874" srcset="https://cdn.thebittimes.com/images/2024/02/29/ab179d93f571318fcf2942a0e9350203.webp 918w, https://cdn.thebittimes.com/images/2024/02/29/ab179d93f571318fcf2942a0e9350203.webp 300w, https://cdn.thebittimes.com/images/2024/02/29/ab179d93f571318fcf2942a0e9350203.webp 768w" sizes="(max-width: 918px) 100vw, 918px">
  <figcaption class="wp-element-caption"><em>Dogecoin market cap 24-hour chart. Source: CoinMarketCap</em>
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 <p class="paragraph">As for the reasons for DOGE’s surge, besides the obvious bullish sentiment in the market, they may have to do with significant whale accumulation that has seen two major holders purchase 172.89 million DOGE and 103.32 million DOGE, respectively, from brokerage platform Robinhood.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">172,893,653 #DOGE (16,598,604 USD) transferred from #Robinhood to unknown wallethttps://t.co/wYmSYwef4q</p>— Whale Alert (@whale_alert) February 27, 2024
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 <h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2>
 <p class="paragraph">All things considered, both SHIB and DOGE have benefitted massively in the current bullish frenzy that has engulfed the larger part of the crypto market. However, things in this industry could easily change, so it is important to weigh all the risks before making any major investment decisions.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shib-and-doge-trigger-5-billion-overnight-explosion-still-time-to-buy-tbt81173.html">https://thebittimes.com/shib-and-doge-trigger-5-billion-overnight-explosion-still-time-to-buy-tbt81173.html</a></p>

SHIB and DOGE trigger $5 billion overnight explosion: Still time to buy?

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