Shiba Inu, in particular, has made a surprising move in the market by experiencing a significant increase in its market capitalization value. It soared above the $6.3 billion mark, propelling this canine-themed cryptocurrency to the 11th position on CoinMarketCap’s list. Within the span of the past 24 hours, the price of Shiba Inu has surged by more than, 13%, although there has been a subsequent 3% decrease. Nonetheless, SHIB has made a remarkable climb up the ranks of leading cryptocurrencies and has even managed to shed one zero from its price.
As of the time of writing this news, Shiba Inu is being traded at $0.00001087 on the Binance exchange. This significant overnight surge can be attributed to a sudden surge in traders’ interest in SHIB. The increased attention is likely due to the anticipation surrounding the upcoming launch of the Layer-2 blockchain Shibarium on the mainnet, which is scheduled to take place next week.
These developments indicate a growing bullish sentiment for Shiba Inu, Pepe, and XRP, as evidenced by their prominent positions on CoinMarketCap’s trending cryptocurrency list. The market has witnessed notable price movements and increased investor attention, particularly in the case of Shiba Inu, as it prepares for the launch of Shibarium.
Source: UTODAY
