Shiba Inu (SHIB) is a digital currency inspired by popular dog memes. Its value has soared recently, taking the rally train that Dogecoin, Bonk, Floki and Pepe have already boarded in the hype around memecoin.
For your reference, since the beginning of this year, investors still do not seem to have glimpsed the memecoin industry due to the spotlight around GameFi tokens and blockchain coins (such as SEI, SUI) and second-tier coins.
Shiba Inu
Santiment emphasizes the importance of tracking the surge in social dominance in these memes, which shows that these indicators are essential for accurately determining investment decisions.
Tweets from JD, a respected crypto analyst in the Philippines, add to the excitement surrounding the rise of Shiba Inu, indicating that SHIB is withdrawing from its wedge pattern that has declined for many years.
These observations are very worth mentioning, because the non-logarithmic scale is used to evaluate the true value of measurable moving targets, which provides a new perspective on the potential of SHIB.
JD’s excitement about the future of SHIB is obvious, because he expressed his intention to fill in the withdrawal of any calculation, which shows that he is confident in the future performance of this memecoin.
Previously, the dog-themed meme Bonk Inu, which operated on the Solana network, proved the strength of the meme field that was thrown out and abandoned.
In the past seven days alone, Bonk has recorded an amazing price increase of 102%, and a similar increase of 103% in the past month.
This incredible rise marks a three-month high in the trading price of BONK, which is currently in the range of $0.00002,510. Its market value has also increased significantly, reaching $1.6 billion, which is impressive.
This phenomenon highlights the growing traction and interest of the crypto market in meme coins, which shows that despite fluctuations, the market segment still has significant growth potential.$
