Shiba Inu, the beloved dogecoin rival, is buzzing with excitement! A marketing specialist within the Shiba Inu ecosystem, Lucie, just dropped some intriguing hints suggesting a potential surge. Could this be the start of another epic rally for SHIB?
Buckle up and dive in to find out!
Shiba Inu (SHIB) spearheads the memecoin rally as its price skyrockets by a whopping 52%. The surge follows a jaw-dropping 30,000% increase in its burn rate within just 24 hours, shaking the crypto market with its unexpected move. Lucie, a Shiba Inu expert, predicts an 800% price surge, drawing parallels from the 2021 bull run where $SHIB jumped 800% in a week, even without any burns.
Based on historical data and recent price movement, there’s excitement about a potential 800% rally for SHIB. Lookonchain’s data revealed a significant whale event, with a massive sell-off of PEPE tokens worth $6.07 million, followed by the acquisition of 75.9 billion SHIB tokens valued at $893,000. Meanwhile, the surge in SHIB’s burn rate, leading to the destruction of 3.75 million tokens, turned heads towards the emerging meme coin. This surge brings the total burnt tokens to approximately 410.70 trillion SHIB, significantly reducing the circulating supply to 581.65 billion coins.
Shiba Inu joins the party with Dogecoin, Bonk, Floki, and Pepe in the ongoing memecoin rally, as observed by on-chain data provider Santiment. These fluctuations in social dominance are pivotal in predicting peak moments as the week progresses, hinting at a possible surge in memecoin values. Dogecoin (DOGE) sustains its rally with an additional 18% gain, breaching the $0.15 mark. Similarly, Solana-based Dogwifhat (WIF) witnessed a remarkable 35% surge in the last 24 hours, extending its weekly rally to 311%.
The broader cryptocurrency market rides on the wave of the memecoin rally, with strong undercurrents indicating bullish sentiment. Shiba Inu’s surge, alongside other memecoins like Dogecoin and Dogwifhat, underscores the growing influence of meme currencies in the crypto sphere. In the meanwhile, Shiba Inu’s climb to $0.00002 faces a hurdle at $0.000014, eagerly watched by traders for a breakthrough.
A rising RSI hints at more gains, especially if it hits overbought levels, sparking a buying frenzy. The MACD signals ongoing momentum, buoying optimism alongside recent buy signals. But, a rollercoaster burn rate, soaring one day and vanishing the next, adds uncertainty despite a recent 63% drop.
As the week progresses, all eyes remain glued to the memecoin market, anticipating further price surges and potential peak moments.
As crypto eyes another bull run heading into 2025, investors are on the hunt for…
XRP is taking a breather after a volatile few weeks. Despite a sharp rally followed…
The crypto market continues to gain traction, adding 0.76% to reach a $3.89 trillion market…
Bitcoin is holding steady above $118,000 despite the recent ups and downs in the market.…
Could XRP really reach $1,000? While this may sound far-fetched to many, Jake Claver, director…
The crypto market is starting to go more mainstream, especially after the new GENIUS Act…
