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Cryptocurrency News Articles
FLOKI, Shiba Inu (SHIB), PEPE, and BONK Lead Memecoin Ecosystem Rebound
Sep 28, 2024 at 03:25 pm
After weeks of relatively stagnant movement, these tokens are now in a breakout mode. While their memecoin status marks the common denominator, their respective appeal lies in their ecosystem.
Memecoins are rallying once again, and FLOKI, Shiba Inu (SHIB), PEPE, and BONK are leading the charge. These tokens have seen their prices skyrocket in recent days, and they are now outperforming the broader crypto market.
The rally in memecoins is being driven by a number of factors, including the strong performance of Bitcoin and other major altcoins. As the crypto market continues to rally, investors are rotating out of the blue-chip tokens and into riskier assets, like memecoins.
Shiba Inu (SHIB) price rallied 18.26% in 24 hours to $0.00002022. This marked the highest level over the past month by a very large margin, as the token dropped as low as $0.00001238 within this time. SHIB began the week at $0.0000182.
Shiba Inu price saw a sharp uptrend last week after kicking off at $0.000013 on Monday morning. From there, SHIB price rallied as high as $0.0000204 by Wednesday morning before dropping to $0.0000178 on Thursday morning.
Afterward, SHIB price rallied once more and reached $0.0000232 on Friday morning. The dog-themed memecoin began the weekend with a morning price of $0.0000212 before rallying to evening highs of $0.0000239.
Shiba Inu price then dropped as low as $0.0000202 by Monday morning. However, SHIB price recovered throughout the morning and afternoon to reach highs of $0.0000224 before dropping again.
Shiba Inu price then rallied once more and reached evening highs of $0.0000234. The memecoin dropped again throughout the late evening and early morning on Tuesday to reach lows of $0.0000208.
Afterward, SHIB price recovered throughout the morning and afternoon to reach highs of $0.0000228 before dropping once again. Shiba Inu price rallied again on Wednesday morning, reaching highs of $0.0000238.
However, SHIB price dropped throughout the late morning and afternoon to reach lows of $0.0000218 before recovering again. Shiba Inu price then dropped once more on Thursday morning, reaching lows of $0.0000198.
Afterward, SHIB price recovered throughout the morning and afternoon to reach highs of $0.0000222 before dropping once again. Shiba Inu price then rallied on Friday morning, reaching highs of $0.0000234.
However, SHIB price dropped throughout the late morning and afternoon to reach lows of $0.0000208 before recovering again. Shiba Inu price then dropped once more on Saturday morning, reaching lows of $0.0000192.
Afterward, SHIB price recovered throughout the morning and afternoon to reach highs of $0.0000218 before dropping once again. Shiba Inu price then rallied on Sunday morning, reaching highs of $0.0000238.
However, SHIB price dropped throughout the late morning and afternoon to reach lows of $0.0000208 before recovering once again.
Shiba Inu appears to be preparing for the launch of its highly anticipated layer-2 solution, Shibarium. According to recent updates from Unfolded, a crypto data analysis platform, Shiba Inu realized a significant uptick in its burn rate over the past 24 hours.
The burn rate for SHIB increased by 1,230.65% with 16,083,833 tokens burned from the circulating supply. Notably, the burn rate for SHIB also surged by 6,300% over the past week.
Shiba Inu is currently ranked 14th on CoinMarketCap, with a market capitalization of $14,000,040,804.
Disclaimer:info@kdj.com
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