Will Shiba Inu (SHIB) Lead The Memecoin Bull Run?

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Shiba Inu (SHIB) has built momentum this week following an increase in burn rates and whale transactions amid other factors.

Shiba Inu (SHIB) is igniting bullish interest in the cryptocurrency market following a wave of positive on-chain factors spurring price growth.

At press time, SHIB trades at 0.0000227, an 8% increase this week despite facing slight short-term corrections.

The uphill rally in SHIB and memecoins has been tipped by multiple traders on social media spaces as ushering in the next market bull phase. Shiba Inu’s market capitalization stands over $13.4 billion with daily trading volumes almost at $400 million.

Shiba Inu recorded surging transactions alongside its price uptick. The memecoin notched an increase in daily volumes and new active accounts on the back of network upgrades.

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