Shiba Inu Aiming For The Second Peak Of The Week

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Shiba Inu is leading the crypto market with a hype of 170% and aiming for the week’s second-biggest peak. After suffering from the bearish zone for one and a half years, SHIB is finally lifting on the charts. Will Shiba Inu succeed in breaking the barrier of dips or succeed this time? Let’s discuss that in this blog. 

Overview Of Shiba Inu Growth 

Shiba Inu was launched in August 2020 as a direct competition of Dogecoin, the most prominent meme coin in the market. With the nickname Dog-Killer, SHIB is known for its explicit competitiveness in the market and holding a more prominent value than the other meme coins.

For almost two and half years, SHIB hasn’t reached anywhere near its ATH of $0.00008845. These two and half years, SHIB has maintained a value of around an average of $0.00001. 

At the start of 2024, some minute price growth did occur for this coin. It formed a peak by mid-February. Shiba Inu is trading at $0.00003544, with an impressive hike of 170% this week. It has hiked more than 15% from its value from yesterday and is ranking 10th on the Conmarketcap based on the market cap value, which comes to $20,895,749,053 after a hike of 15%. 

With all the positive hikes, the trading volume has seen a significant drop of 7%, maintaining the value at around $3,914,478,938. Earlier this week, SHIB peaked at $0.00004317 and a 24-hour volume of $11.68 Billion, almost four times than what it is now. 

Meme Coins Have Risen Up

Meme coins are popular because of their lower values with a high maximum supply. It does distort the meme coins image as a good investment, which isn’t true. Some of the meme coins do have the potential to grow soon. 

In the ongoing meme coin rally, coins like Pepe Coin, BONK, and dogwifhat are among the altcoins that have crossed their ATH value. PEPE’s weekly data indicates a 135% hike in the last few days. At the same time, it has hiked more than 800% from its value a month ago. It is currently trading at $0.000008432 with a 27% hike from yesterday and a trading volume of $2.17B after a surge of 16%. 

BONK has risen by 19% within a day, settling around $0.00003317 for now. BONK initiated its peak around 26 February, and in the last week increased by 39%. 

Dogwifhat has crossed a milestone of $2.27 ATH and is currently trading at $2.20, with a hike of 25% within the last 24 hours. Compared to its one-month-old data, it has hiked 912%, which is impressive for a coin launched recently. Additionally, Floki Inu and Dogecoin have also surged significantly. 

Based on this, the analysts have called this a “meme season” where the meme coins are at their full potential to move ahead of other altcoins.

Conclusion

Shiba Inu is approaching the second peak of the week and might develop even higher to cross the years of stagnant value. SHIB is currently trading at $0.00003544 with a market cap of  $20,895,749,053. Along with SHIB, other meme coins like PEPE, BONK, and dogwifhat are also trending with their new ATH high value. Read more about meme coin’s weekly trading volume surge of 3000%.

The post Shiba Inu Aiming For The Second Peak Of The Week appeared first on CoinGape.

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