Analysis

SHIB surged 23% followed by many other memecoins gaining

Shiba Inu has long been at the forefront of trends when it comes to memecoins, and together with Dogecoin, these two cryptocurrencies have set the tone for an entirely new market that cannot be ignored. .

The entire market has been in the green for the past 24 hours as Bitcoin price touched $43,000 in a series of interesting events.

However, Shiba Inu surprised the market today with a sharp increase of up to 23%.

This brings the cryptocurrency’s overall gain over the past 7 days to over 34% and it is currently trading around $0.00002797.

Source: TradingView

The last time the cryptocurrency traded at these prices was on January 18 of this year.

It is also interesting that the massive rise of SHIB in the last 24 hours has also led to many other memecoins.

Dogecoin is up about 6.5% and is 3 spots ahead of SHIB in terms of total market cap and ranks 11th.

Teddy Doge (TEDDY) — one of the most searched coins on CoinMarketCap — is up 38% at the time of writing.

Floki Inu (FLOKI) is up 14%, as is Floki One.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.