Shiba Inu (SHIB) holders have some to cheer as meme coins have recorded an increase in the last 24 hours, indicating a bullish possibility. This development helped Shiv turn over two other assets and charge 16th place in terms of market capitalization rankings.
Shiba Inu regains the ground despite rival profits
Shib has grown by 3.09% over the past 24 hours to $0.00001,255, bringing its market capitalization to $73.9 billion, according to data from Coinmarketcap.
Within the same time, Hedera (HBAR) surged 5.23% to $0.1694, bringing its market capitalization to $7.15 billion. Similarly, SUI (SUI) traded at $2.23 after a price rise of 6.77%, bringing its market capitalization to $7.26 billion.
Despite the higher percentages in HBAR and SUI, staying ahead of Shiba Inu was not enough. This put the two assets in 18th and 17th place, respectively.
Shib’s recent surge came when dog-themed Meme Coin bouncing back support towards a $0.00001280 level. However, before settling at current prices, it faced resistance after reaching $0.00001279.
Nevertheless, Shiv’s future price outlook is promising as investors’ profits surges are accompanied by an increase. As of reporting time, trading volumes rose 52.52% to $147.11 million.
Is Shibu Manten strong?
As reported by U.Today, if the current positive momentum remains, Shib could lose even more zeros. In particular, rising prices and new interest from holders could support Meme Coin’s upward movement in the long term.
Additionally, the community has recently increased its burn activity, with an astounding 3,277% increase. This led to the recent incineration of 881.35 million S.S. via the Shiv Torch Protocol.
The move marks the awakening of community members who have decided to rebound by Shiv.
Marketwatchers believe that Shiv has risen to two locations up the crypto market rankings. I’ll know for the next few days.
