|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Shiba Inu (SHIB) Surges +43% in the Past 9 Days, Whale Activity Spikes with Million-Dollar Transactions Increasing
Sep 28, 2024 at 01:42 am
Shiba Inu (SHIB) has experienced a substantial surge over the past nine days, driven by increased on-chain activities that have fueled bullish sentiment in the market.
Shiba Inu (CRYPTO: SHIB) has seen a substantial surge over the past nine days, with increased on-chain activities fueling bullish sentiment in the market.
The meme coin has hit 10-week highs, surpassing other popular meme coins and grabbing the attention of traders and investors.
Shiba Inu Price Surges 43% in 9 Days: Here's What Drove the Meme Coin Rally Shiba Inu (CRYPTO: SHIB) has seen a substantial surge over the past nine days, with increased on-chain activities fueling bullish sentiment in the market.
The meme coin has hit 10-week highs, surpassing other popular meme coins and grabbing the attention of traders and investors.
Shiba Inu's price has been on a roll, rising 43% in the past nine days and 23% within the last day. The surge pushed SHIB to $0.000019, marking its highest level in ten weeks and highlighting the token's strong performance within the meme coin sector.
For instance, SHIB surged over 43% in a week, while the second-best performer among the top 10 meme coins by market cap, Doge (CRYPTO: DOGE), rose by 27.4%.
The recent price hike has also played a part in a broader bull run in the crypto market, with another driving force being increased trading volume and other on-chain metrics, suggesting that the surge is indeed getting attention.
As reported by Santiment, trading volumes for SHIB surged to 1.19 billion SHIB on September 26, with traders looking to capitalize on the rising trend.
😺📈 Shiba Inu has surged +43% in the past 9 days with on-chain activity notably surging compared to altcoin alternatives and other meme coins. In addition to volume, circulation, and whale transactions spiking to 10-week highs, social dominance is up as well. This indicates that… pic.twitter.com/w13pdr4r7K
— Santiment (@santimentfeed) September 26, 2024
Whale Activity Surges As Million-Dollar Transactions Increase: Shiba Inu's on-chain transactions have seen a major surge, with鲸鱼活动也大幅增加.
On September 26 and 27, transactions on the SHIB network above $1 million were recorded for the second time in two months.
This rise in high-value transactions suggests that large investors, often referred to as 'whales,' are participating in the current market rally and adding further momentum to SHIB's price surge.
Additionally, the amount of unique SHIB tokens traded on the platform surged as the total SHIB in circulation reached around 5.7 trillion on September 26. The uptick in activity within the Shiba Inu network, driven by rising market interest and continuous developments, likely contributed to the increase in circulation.
Other factors that have fueled the positive sentiment include the integration of liquid staking into the Shibarium network and a higher SHIB burn rate.
In a single day, the Shiba Inu ecosystem added $3.3 billion to its market capitalization, indicating that the project's rapid development and market performance are continuing to attract investment.
Experts Caution On Potential FOMO, Short-Term Price Fluctuations: While SHIB's price and on-chain transactions have both seen a substantial surge recently, experts have cautioned investors against getting carried away.
Santiment's analysis suggests that the current surge in SHIB's price could lead to FOMO sentiment among investors, which may result in short-term fluctuations in SHIB's price as the market finds its footing.
However, several challenges remain in the market today, even as the market continues to grow strongly.
Demand for Shiba Inu to reach $1 would require an astronomical increase in trading volume and investor attention.
The analysis also notes that a cooling-off period may be needed to sustain the bullish narrative and prevent sudden market reversals.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Sybil Airdrop Farmers Target Free Tokens as Crypto Points Market Explodes
- Sep 28, 2024 at 05:05 am
- Airdrops are seeing a surge in popularity, with crypto projects distributing $26.6 billion worth of tokens in just three years since the first airdrop.
-
- Pendle Crypto’s Biggest Cheerleader, Arthur Hayes, Just Sold Many of His Shares
- Sep 28, 2024 at 05:05 am
- For over a year, Hayes, who served as an advisor to Pendle and asset manager Blackrock, has been the two biggest players investing in Pendle crypto
-
- Chiliz (CHZ) Enters a New Era in the Blockchain Realm with a New Independent Subsidiary, Chiliz Sports
- Sep 28, 2024 at 05:05 am
- The popular sports-focused blockchain Chiliz (CHZ) is entering a new era in the blockchain realm with a new independent subsidiary.
-
- Moo Deng Takes the Crypto Spotlight
- Sep 28, 2024 at 05:05 am
- According to recent data, the Solana-powered meme token moo deng (MOODENG) has jumped 98% in the past 24 hours and shot up a stunning 1,398% over the last week.
-
- Bitcoin ETF Options: A Turning Point in Institutional Adoption
- Sep 28, 2024 at 05:05 am
- The SEC's decision to approve Bitcoin ETF options has long been awaited by market watchers. The move is expected to dramatically reshape how institutional investors approach Bitcoin.
-
- Economist Godfred Bokpin Insists Ghana Gold Coin Not a Viable Solution to Cedi Depreciation
- Sep 28, 2024 at 05:05 am
- Economist Prof. Godfred Bokpin has stated that the Ghana Gold Coin is not a viable solution to the depreciation of the cedi. On Friday, the Bank of Ghana
-
- Polygon (POL) Bulls Charge After Ahmedabad Hardfork, but Exchange Inflows Raise Caution
- Sep 28, 2024 at 04:45 am
- Polygon's [POL] recent upgrade, the Ahmedabad hardfork, is creating excitement as it successfully launched on the mainnet. With the implementation of
-
- Popo (FROP) Token Launches on MEXC on September 30th: Here's What You Need to Know
- Sep 28, 2024 at 04:45 am
- Popo's goal is clear: to outperform Pepe. The new cryptocurrency, which will launch on September 30, wants to be the next major force in the crypto industry.
-
- Stand With Crypto PAC Backs XRP Lawyer John Deaton in Massachusetts Senate Race
- Sep 28, 2024 at 04:45 am
- Deaton's legal battles with the SEC, especially his defense of the XRP community, have solidified his reputation as a key figure in the fight against