Shiba Inu 36.5% Soars: Market Cap Hits $8B, Outpaces ADA, LINK, & LTC – Aiming 800% Surge in a Week!
The post Shiba Inu 36.5% Soars: Market Cap Hits $8B, Outpaces ADA, LINK, & LTC – Aiming 800% Surge in a Week! appeared first on Coinpedia Fintech News
Amidst the recent Bitcoin (BTC) surge, Shiba Inu stands out, marking an impressive 36.5% gain in the past 24 hours, surpassing the growth seen in other assets. In the meantime, Shiba Inu’s market cap has now exceeded $8 billion, and its trading volume is outpacing major altcoins like ADA, LINK, and LTC.
However, the coin’s robust volume metrics fuel new speculations, hinting at a potential 800% surge in the coming week, similar to its remarkable performance recorded during the 2021 bull run.
Shib Outpass ADA, LINK, LTC
The price of Shiba Inu went up by more than 36.6% in the past 24 hours, riding a positive trend in the overall cryptocurrency market.
Notably, Shiba Inu’s recent price surge has also seen it break above the $8 billion market cap, its highest level since May 2023. For context, the latest milestone means that Shiba Inu has now doubled its market cap from its most recent lows in November.
Precisely, the trading volume for Shiba Inu has soared to around $1.5 billion in the past 24 hours. However, Shiba Inu’s figures top that of other altcoins, especially a handful that have a higher market capitalization.
For instance, 8th placed Cardano has $1.38 billion, and Chainlink (ranked 12th) has $1.33 billion. Meanwhile, the much older cryptocurrency Litecoin (ranked 19th) has around $1 billion.
800% Surge in a Week
In a recent tweet, Lucie, a Shiba Inu ecosystem marketing specialist, recently called attention to a possible rise in SHIB’s price, citing historical data. She mentioned how $SHIB made a huge leap of 800% in just one week back in 2021.
$SHIB surged 800% in a week without any burns in 2021.
Eager to see the outcome in 2024.
Slow burns and steady demand are essential.$SHIB is poised for growth and waits for no one.
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO
(@LucieSHIB) February 28, 2024
However, at that time SHIB hit an all-time high of $0.00008845 in October 2021 during a recovery. Well, Lucie is now curious to see what happens in 2024, emphasizing the importance of slow burns and steady demand for $SHIB’s growth.
As of now, Shiba Inu’s price is $0.00001340. If it surges 800%, it could reach $0.0001206, getting rid of one zero. This would be the new highest price, and past data suggests it could happen in the upcoming weeks.
