đđ Bitcoin lovers, let's talk about Shiba Inu (SHIB)! This meme coin has been making waves, with a 16% daily rise, and a market cap of $16.9 billion, making it the 11th largest cryptocurrency! đ
SHIB, the self-proclaimed Dogecoin-killer, has been outperforming other meme coins with its trading volume in the past 24 hours reaching nearly $1.9 billion! đžđž
But what's driving this surge? Two key factors: the projectâs burning mechanism and the advancement of its layer-2 scaling solution â Shibarium. The burn rate exploded by almost 600% a week ago, resulting in almost 10 million tokens destroyed, making SHIB scarcer and potentially more valuable! đ„
Shibarium, aiming to lower transaction fees and improve speed, has made great strides since its launch last summer, surpassing the 400 million mark in terms of total transactions. đ
Despite the surge, SHIB remains the second-biggest meme coin, trailing behind Dogecoin (DOGE), which has a market capitalization of over $24 billion. So, while we're all about the BTC, it's worth keeping an eye on these meme coins! đ§đ§
