{"id":590699,"date":"2024-02-29T16:00:19","date_gmt":"2024-02-29T16:00:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=590699"},"modified":"2024-06-11T07:57:16","modified_gmt":"2024-06-11T07:57:16","slug":"shiba-inu-shib-price-skyrockets-by-28-4-key-reasons","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-shib-price-skyrockets-by-28-4-key-reasons\/","title":{"rendered":"Shiba Inu (SHIB) Price Skyrockets By 28%: 4 Key Reasons"},"content":{"rendered":"

The price of Shiba Inu (SHIB) has surged by 28% in the last 24 hours and 45% in the last seven days. Today\u2019s surge can be attributed to a confluence of factors, including a rekindling meme coin frenzy, actions by crypto whales, a favorable chart setup, and significant partnerships and ecosystem expansions. Here’s an in-depth look at these pivotal elements fueling SHIB’s impressive rally.<\/p>\n

#1 Meme Coin Frenzy<\/b><\/h2>\n
In the wake of yesterday’s significant Bitcoin surge, there’s seemingly a noticeable resurgence of interest in higher-risk investments within the crypto sphere. An examination of the most recent 24-hour performance data reveals that the top three performers among the top 100 cryptocurrencies, measured by market capitalization, are all meme coins.<\/p>\n
Leading the pack is BONK<\/a> with an impressive 52% gain, followed by Dogecoin<\/a> with a 33% increase, and SHIB rounding out the trio with a 25% rise. This trend suggests that we may be on the cusp of another meme coin rally.<\/p>\n
$\"Meme$
Top-3 gainers in the last 24 hours | Source: Coinmarketcap<\/figcaption><\/figure>\n
Crypto analyst Rekt Capital has contributed to this narrative by sharing a chart depicting the total market capitalization of altcoins, excluding the top 10. His analysis, encapsulated by the remark, “ALTS Altcoin Market Cap is on the right track,” highlights a breakthrough past a significant resistance level. The market is now poised to target a $315.57 billion valuation, currently standing at approximately $272 billion.<\/p>\n
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$ALTS<\/a> <\/p>\n
Altcoin Market Cap is on the right track #BTC<\/a> #Crypto<\/a> #Bitcoin<\/a> pic.twitter.com\/wNJ7grLbFl<\/a><\/p>\n
— Rekt Capital (@rektcapital) February 29, 2024<\/a><\/p><\/blockquote>\n