Now Shibainu Coin is on the rise and gaining momentum again, up more than 40% over the past seven trading days.
September26, #Shibarium Coin made an amazing comeback, reaching its highest price since July 27. The second largest meme coin, Shibainu Coin, jumped to $0000017 as blockchain data showed that Shibarium fees #rose to $438, well above the low reached earlier this month at 27.
Shibarium, the Tier 2 network developed by the Shibarium team, has seen increased activity, with Shibariumscan data showing that new transactions rose to 8,025 on Sept. 26, up from a low of 2,186.
The increase in fees is particularly notable because a portion of the revenue generated by BONE is converted into SHIBs for burning.
According to #Shiba Inu, the number of Shiba Inu tokens burned in the last 24 hours has increased by 640% to 5,555,360 tokens.
Mog Coin is up 7.5%, while Mog Coin is up 14%. Popcat has also risen 15% over the past week, with a market capitalization of over $1 billion.
According to Nansen, Shiba Inu experienced a net outflow of 41 million tokens last week, leaving the exchange with only 25.48% of its total supply.
This outflow is considered bullish, as it indicates that many investors prefer to keep their tokens in their personal wallets.
Shiba Inu's recent rally was supported by positive technical indicators, including the formation of a double-bottom pattern above the $0.000016 neckline, the highest since August 24th.
Moreover, the #SHIB broke above the downtrend line connecting the highest prices since July 16. The Relative Strength Index (RSI) is also rising, indicating that the momentum is strengthening. This price movement suggests that the SHIB may continue its uptrend, and the bulls will target the key resistance level of $0.00002, the highest price reached in July.
Market News Today - Shiba Inu Coin rises again, gaining momentum.
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