Shiba

Stats

April

Shiba Inu

Coin

<p>Meme coin frenzy is again with us this weekend, and Shiba Inu is leading the charge. SHIB has surged 18% over the past 24 hours, <a href="https://captainaltcoin.com/dogecoins-doge-key-retest-can-the-meme-coin-bounce-back-to-this-critical-level-amid-price-dip-pay-attention-to-these-metrics/" target="_blank" rel="noopener noreferrer nofollow">outperforming even Dogecoin</a>, the king of meme coins, which is up around 5% during the same period.</p>
<p>While SHIB’s gains are definitely notable, some other meme coins have seen even more rises, with BONK and PEPE both pumping over 20%. This <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> coin mania seems to have gripped the crypto market out of nowhere, causing price pumps across the board for these humorous, culture-inspired digital assets.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="636" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-971-1024x636.png" alt="" class="wp-image-478461" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-971-1024x636.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-971-300x186.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-971-767x476.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-971-1536x953.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-971-2048x1271.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-971-242x150.png 242w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-971-100x62.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-971-564x350.png 564w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-971-788x489.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-971.png 825w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Source: <a href="https://coinmarketcap.com/view/memes/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap/Memes</a>
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</figure>
<p><a href="https://captainaltcoin.com/now-that-bitcoin-halving-has-happened-whats-next-for-btc-experts-perspectives/" target="_blank" rel="noopener noreferrer nofollow">The Bitcoin halving is now in the rearview mirror</a>, and it appears the crypto market is experiencing its first post-halving run. An encouraging sign for meme coin enthusiasts is that these highly speculative assets are spearheading the current rally.</p>
<h2 class="wp-block-heading" id="shib-s-rise-above-the-descending-channel">SHIB’s Rise Above the Descending Channel</h2>
<p>Taking a look at the SHIB/USDT chart, we can see that Shiba Inu’s price action has been particularly interesting. With today’s impressive pump, SHIB has managed to break out of the descending channel where it had been rangebound trading since early March (blue lines on the chart below).</p>
<p>This descending channel had kept SHIB’s price suppressed for over a month following the meme coin frenzy of late February and early March. During that prior run up, SHIB exploded over 300% to reach yearly highs of around $0.000044.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="437" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-972-1024x437.png" alt="" class="wp-image-478469" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-972-1024x437.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-972-300x128.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-972-766x327.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-972-1536x656.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-972-2048x875.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-972-351x150.png 351w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-972-100x43.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-972-820x350.png 820w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-972-788x336.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-972.png 1775w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Source: <a href="https://captainaltcoin.com/go/tradingview-3/" rel="noopener noreferrer nofollow">TradingView</a>, SHIB/TetherUS chart
 </figcaption>
</figure>
<p>By breaking out of the channel to the upside, SHIB has now entered “price discovery” mode. This means the meme coin could potentially revisit and even surpass those early March highs in the near future if the buying momentum continues. At the current price of around $0.000027, SHIB would need to rally another 63% to hit its 2024 peak.</p>
<h2 class="wp-block-heading" id="the-role-of-shibarium">The Role of Shibarium</h2>
<p>One potential catalyst for SHIB’s weekend price pump could be the recent growth seen on Shibarium, the <a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="Shiba Inu" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> ecosystem’s layer-2 network. <a href="https://www.shibariumscan.io/stats" target="_blank" rel="noopener noreferrer nofollow">Key Shibarium metrics</a> have been on the rise throughout April so far.</p>
<p>On April 14th, Shibarium hit a new milestone by exceeding 25,000 active accounts – a record high for the Shiba Inu layer-2 solution. The previous day, April 13th, saw over 13,000 new accounts created on Shibarium.</p>
<p>Transaction activity has also been booming, with nearly 1 million new transactions taking place on April 15th alone. As Shibarium continues to gain traction, it could be driving increased interest and demand for SHIB, the ecosystem’s native asset and designated gas token.</p>
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<p>Whether this weekend’s meme coin pumping is a fleeting trend or the start of a larger revival remains to be seen. However, Shiba Inu’s strong performance and the growth of its Shibarium ecosystem suggest that this memecoin still has a dedicated community behind it.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-shiba-inu-shib-meme-coin-price-pumping-these-shibarium-stats-played-a-role/" rel="noopener noreferrer nofollow">Why is Shiba Inu (SHIB) Meme Coin Price Pumping? These Shibarium Stats Played a Role</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why is Shiba Inu (SHIB) Meme Coin Price Pumping? These Shibarium Stats Played a Role

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