In a remarkable turn of events, Shiba Inu (SHIB) experienced a significant surge in price, propelled by a staggering 30,000% increase in burn rate within just 24 hours. This memecoin rally is not exclusive to SHIB, as other memecoins such as Dogecoin (DOGE) and Dogwifhat (WIF) join the celebration.
Key Highlights:
- Shiba Inu witnesses a 30,000% surge in burn rate, triggering a robust price rally.
- Lucie, a Shiba Inu insider, predicts an 800% rally within the next week.
- Dogecoin (DOGE) and Dogwifhat (WIF) contribute to the overall memecoin price rally.
With the broader cryptocurrency market rallying, the memecoin sector experiences a strong upswing. Shiba Inu leads the charge with an impressive 52% gain in the last 24 hours, closely followed by Dogecoin’s 18% surge. Shiba Inu is currently trading at $0.00002.
Shiba Inu (SHIB) Price Rally Details:
- Shiba Inu (SHIB) price increases by 52.85%, reaching $0.00001976, with a market cap of $11.65 billion.
- The daily trading volume for SHIB sees a remarkable 93% surge, approaching $4 billion.
The surge in SHIB price is attributed to notable whale activity. Following a substantial sale of PEPE tokens, a whale shifted focus to Shiba Inu, acquiring 75.9 billion SHIB tokens valued at $893,000.
A significant contributor to the SHIB price rally is the unprecedented 30,000% surge in burn rate recorded on March 1st. Over the past 24 hours, 3.75 million SHIB tokens have been burned, reducing the meme coin’s supply and generating increased optimism in the global crypto community. The total burnt tokens from Shiba Inu’s initial supply now stand at around 410.70 trillion SHIB, leaving a circulating supply of 581.65 billion coins.
Lucie, a Shiba Inu ecosystem marketing specialist, anticipates an 800% surge in SHIB price, drawing parallels with the 2021 bull run. This forecast is particularly noteworthy as it envisions a substantial increase within a week, even in the absence of documented burns.
The Memecoin Festival Unfolds:
- Shiba Inu joins the ranks of memecoins experiencing a surge, following the trends set by Dogecoin, Bonk, Floki, and Pepe, according to on-chain data provider Santiment.
- Dogecoin (DOGE) continues its rally with an additional 18% gain, surpassing $0.15. Over the past week, DOGE has surged by an impressive 66%.
- Solana-based Dogwifhat (WIF) emerges as another major player, witnessing a 35% surge in the last 24 hours, reaching $1.25. This extends Dogwifhat’s weekly rally to an astonishing 311%.
I am Pawan Kashyap currently living in Amritsar. I always try to grab new things from the cryptocurrency market. From my observations and trends in the market, I always try to provide the best and accurate information in the form of articles from this blog. Follow us on Facebook, Instagram, and Twitter to join us.
