Notable Surge in SHIB Price Reflects Positive Momentum in Meme Coin Sector
There has been a significant increase in the trading price of SHIB, reaching $0.00009335, marking a 3.3% surge. The meme-based cryptocurrency currently holds the 19th position in terms of market capitalization.
Over the past 24 hours, the trading range has remained relatively stable, fluctuating between $0.00008947 and $0.00009398.
The current market value of the second-largest meme coin stands at $5.5 billion, with a modest 24-hour trading volume of $145 million.
Zero Eradication Sign For the Shiba Inu community, the possibility of “zero eradication” remains a notable indicator. This term refers to the price moving above the decimal point, representing a symbolic achievement for any cryptocurrency, particularly for those with low unit prices like SHIB.
Despite the recent surge, it’s crucial to note that SHIB is still down by 89% from its all-time high of $0.00008616 achieved on October 28, 2021, over two years ago.
The current upward trend is positive for the meme coin, but it has yet to reach its previous glory.
Top-Performing Meme Coins As of Tuesday, the performance of the top meme coins in terms of market capitalization depicts a diverse scene. Dogecoin (DOGE), the leader in this category, is ranked 11th with a price of $0.08128. It experienced a slight 0.1% decrease in the past hour but saw a 3.0% increase over the last seven days, with a market value of $11,617,888,656.
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Shiba Inu (SHIB) holds the 19th position, closely following with a 3.1% weekly gain.
Other notable players include Bonk (BONK) at 97th place, showing a significant 12.1% increase over the week, and CorgiAI (CORGIAI) at 126th place, displaying more modest weekly growth of 0.6%.
The meme coin market exhibits varied trends, reflecting its dynamic and often unpredictable nature in this market sector.
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