8.3 Trillion Shiba Inu Traded in 24 Hours, SHIB Poised to Erase a Zero🤯💥📈
Shiba Inu (SHIB) captured significant market attention today by surpassing Cardano (ADA) in market capitalization, experiencing a 12.7% surge in the past 24 hours to $0.00002799. This impressive feat, initially intended to only outpace Avalanche, highlights SHIB's potential for further growth.
As of now, SHIB's trading volume has skyrocketed by over 139%, reaching $2,384,774,823 overnight. This volume translates to 8.3 trillion SHIB traded in the last 24 hours, positioning the meme coin for more potential growth.
Shiba Inu has seen relatively bearish performance for much of the month, dropping to $0.00002071 at its lowest. However, the recent surge confirms sustained investor interest. With this resurgence to its highest level since mid-April, SHIB is now eyeing the possibility of erasing a zero in its price.
Several ecosystem fundamentals have contributed to SHIB's recent success and will influence its future trajectory. Continuous Shiba Inu burning is creating a supply crunch, positively impacting price sentiments. Additionally, community hype, fueled by cryptic messages from lead developer Shytoshi Kusama and anticipation of new utilities, is a key factor driving SHIB's popularity.
Furthermore, as the market gradually decouples from Bitcoin following spot Ethereum ETF approvals, Shiba Inu, an Ethereum-based token, is likely to benefit from the expected influx of liquidity. The potential utility of Shibarium and significant SHIB whale transactions could also aid in erasing a zero from its price soon.
