Shiba

Shiba Inu

<p>Shiba Inu price is halfway to reaching its all-time-high value after the 60% surge within a day. Many meme coins are performing well in the past few days, where some have recently peaked and crossed the ATH value and have surged their <a href="https://coingape.com/trending/meme-coins-weekly-trading-volume-surged-3000-new-record/">weekly trading volume by 3000%</a>. Shiba Inu can be considered one of the top-performing meme coins because of this recent surge.</p> 
<p>This blog will cover why SHIBA’s price surged, its market performance, and whether to buy or sell.</p> 
<h2 id="shiba-inu-price-analysis">Shiba Inu Price Analysis</h2> 
<p>SHIB is presently trading at $0.00003922, with a 70% surge in its prices from yesterday. It hasn’t just spiked in one day because compared to a week’s data, SHIB’s price is up by 283%. On 28 February it was trading at $0.00001082 with a trading volume of $617.67 Million. This meme coins trading volume has surged vastly in this duration, as currently, it is at $13,338,944,678 with a hike of 312%.</p> 
<p><a rel="nofollow" href="https://coinmarketcap.com/currencies/shiba-inu/"><img decoding="async" src="https://coingape.com/wp-content/uploads/2024/03/image-59.png" alt="Shiba Inu Price Analysis" width="1015" height="439"></a></p> 
<p>SHIB is currently ranked 10th on the coinmarketcap, with its market cap of $22,869,329,619 after a surge of 66%. This surge has pushed Shiba Inu back into the list of most popular cryptocurrencies, where its valuation has reached $25 Billion. It’s closer to the Dogecoin valuation at $27 Billion.</p> 
<h3 id="why-shiba-inu-is-rising">Why Shiba Inu Is Rising?</h3> 
<p>Shiba Inu is the second largest meme coin after Dogecoin, also known as “Dog-Killer.”Several meme coins have gained attention recently due to their outstanding success, including <a href="https://coingape.com/blog/dogecoin-hits-new-high-will-doge-price-reach-1/">Dogecoin</a>, Bonk, and Floki Inu. That resulted in the bullish market for many other meme coins, including SHIB.</p> 
<p>Another major factor is increased buying tendency in the market. According to <a rel="nofollow" href="https://twitter.com/spotonchain/status/1764591666340724897?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1764591666340724897%7Ctwgr%5E28c6d45f021ecf009191ae8080d0f13a8e4c297a%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcoingape.com%2Fmarkets%2Fshiba-inu-price-rally-whale-buys-signal-potential%2F">Spot-On-Chain</a>, the founder of MakerDAO, Rune Christensen, recently bought 7.41 Billion SHIB worth 100K USDC on 1st March,&nbsp; said to be the reason for an initial 60% hike. Soon after, he again bought 17.629B $SHIB with 400K $USDC, which led to a 20% more hike.</p> 
<p>The last reason attributed to the surges is the news of the debut of the <a href="https://coingape.com/shiba-inu-lead-developer-unveils-early-access-to-shib-name-service/">Shib Name Service (SNS) 1.1 version.</a> It allows its holders to get personalized tokens.</p> 
<p>Here, the users can customize their web3 identity with gamertags and digits, designed to initially incorporate SSI (Self Sovereign Identity) into Shiba’s projects. 1 November 2024 is the designated date for SHIB Identity’s first step.</p> 
<h2 id="conclusion">Conclusion</h2> 
<p><a href="https://coingape.com/price/shiba-inu/">Shiba Inu price</a> has continuously risen for almost a week when a hike of&nbsp; 283% was recorded. At the time of writing, the peak seems like slipping a little after a peak of $0.00004438 earlier. It has to see how this graph will move against all the odds. Whether it will fall after closing the hike. Read more about <a href="https://coingape.com/blog/should-meme-coins-be-part-of-my-investment-portfolio-in-2024/">should meme coins be part of your investment portfolio in 2024.</a></p> 
<p>The post <a href="https://coingape.com/trending/shiba-inu-price-surged-by-60-in-single-day-buy-or-sell/">Shiba Inu price Surged By 60% In Single Day; Buy or Sell</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Shiba Inu price Surged By 60% In Single Day; Buy or Sell

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