đđBuckle up, Bitcoin enthusiasts! Shiba Inu (SHIB), the second-largest meme coin by market cap, is making waves! đđ Its transaction volume has skyrocketed by a whopping 2,300%, reaching $223 million in daily volume for transactions exceeding $100,000. đđ°
This surge coincides with a price rally for SHIB, which has seen a 7% increase in the past 24 hours. đđ Other meme coins have also experienced significant gains, including PEPE (23%), POPCAT (27%), TRUMP (22%), FLOKI (12%), and more. đđ
What's fueling this resurgence? đ„đ„ The SHIB team has burned over 200 million tokens in the past week, reducing the circulating supply and potentially making the coin more valuable over time. đžđž Plus, the layer-2 scaling solution Shibarium has undergone two major upgrades, improving user experience and compatibility with popular wallets. đ ïžđ ïž
And let's not forget adoption! đ€đ€ CoinGate, a blockchain payment processor, has embraced SHIB as a payment method, further enhancing its exposure in the crypto market. đđ So, while we remain neutral on the market, it's hard not to be optimistic about Bitcoin's playful cousin, SHIB! đđđđ