Why is the Shiba Inu (SHIB) Price Up Today?
Release: 2024/09/26 15:54 Reading: 845
TL;DR
Shiba Inu (SHIB) has surged over 10%, reaching a two-month high with a market capitalization of $9.7 billion.
Shiba Inu's Resurgence
Shiba Inu (SHIB), a popular meme coin, has emerged as one of the top-performing cryptocurrencies today, September 26th. Its price has jumped by over 10%, currently trading at approximately $0.00001634 (as per CoinGecko's data). This marks a near two-month high for SHIB. Its market capitalization has soared to $9.7 billion, a level last seen in late July.
Factors Contributing to SHIB's Rise
Several bullish factors have likely contributed to SHIB's recent price increase. These include:
- Shibarium's Progress: The advancement of Shibarium, a layer-2 scaling solution, has been a significant driver. Recently, the processed blocks on the network surpassed 7 million.
- Accelerated Burn Rate: SHIB's burn rate has surged by 640% daily, resulting in approximately 5.5 million tokens being sent to a null address. This mechanism aims to reduce the circulating supply, potentially leading to a price rally through increased scarcity.
Analysts' Predictions
Some analysts are optimistic about SHIB's future price potential. X users JAVON MARKS believes it could surge towards $0.000081, while pepa predicts a substantial 10,000% increase. However, it's important to note that the latter scenario would require SHIB's market capitalization to expand significantly, reaching approximately $800 billion.
Conclusion
Shiba Inu's recent price increase is a testament to its popularity and the ongoing enthusiasm within the meme coin niche. With Shibarium's progress and the accelerated burn rate, SHIB may continue to attract investors looking for potential growth opportunities.
Recent news
More>- 60.9 Billion Dogecoin (DOGE) in 24 Hours, What's Happening? 11-27
- Historic Milestones: Bitcoin approaching $100,000 and Pepe Unchained secures over $52 million in presale 11-27
- UK’s financial regulator to implement final crypto rules by 2026 11-27
- Dogecoin’s Dogebox Will Revolutionize Everyday Transactions in 2025 11-27
- From Dogecoin to Dogen: The 10,000% Rally Everyone Is Talking About! 11-27
- Bets.io – one of the most wonderful and safe online crypto-casinos 11-27
- This week’s crypto opportunities: Buy signals for XRP, LINK, and XYZ 11-26
- Trump’s Pet Pepe (TRUMPEPE) Solana Memecoin Will Rally 18,000% Before Exchange Listings, As Shiba Inu and DOGE Lag 11-26
- Analyst Predicts This Layer-2 Meme Coin Could Surge 150X at Launch 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com