Is the meme coin season back? It could be, especially looking at how Shiba Inu
Price
Trading volume in 24h
Last 7d price movement
(SHIB) has performed in the past 24 hours amid significant SHIB price gains.
The meme coin, one of the first successful projects after Dogecoin, rose 16% in 24 hours, pushing weekly gains to over 30%, looking at Coingecko data.
SHIB Rising, Outperforms Dogecoin: Here’s Why
It is not every day that this happens. If anything, SHIB has been under immense selling pressure.
After peaking in early March, the token is now down -60% since, even after factoring in recent gains.
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However, there is hope. As SHIB buyers flow back, the odds of the meme coin extending gains and printing new H2 2024 highs remain.
A look at the top meme coin by market cap tracker shows that Dogecoin, though still the most valuable with a market cap of over $17.9 billion, is struggling against SHIB and PEPE over the last 24 hours and the previous week.
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If yesterday’s gains are confirmed, then SHIB could narrow the gap with the most valuable meme coin, cementing its place in the industry and even cracking the top 10.
As crypto prices recover from Q3 2024 lows, SHIB may find the much-needed tailwinds to unwind losses.
Shiba Inu On-Chain Activity Soars: A Glimpse Into Growth
What’s more?
Santiment data reveals that there has been a spike in on-chain volume, whale activity, and circulation.
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The resulting FOMO, especially after recent gains, has also increased Shiba Inu’s social media dominance.
This uptick follows the recent integration of liquid staking to Shibarium, the Ethereum layer-2 platform built by Shiba Inu.
Crypto All-Stars, The Perfect Meme Coin Alpha?
Although prices are racing higher, the bearish trend dominates. Accordingly, there is a possibility that prices may cool off. Subsequently, traders and investors are diversifying, considering Crypto All-Stars.
The Crypto All-Stars presale is ongoing, raising over $1.8 million.
Each STARS, the native token, is trading for $0.0014652.
Interest in the Crypto All-Stars meme coin is due to its incorporation of DeFi features. Top of the list is that the platform will introduce MemeVault, a unified staking protocol, allowing meme coin holders to lock up their assets and earn rewards.
Some of the top meme coins supported are SHIB and Dogecoin.
Rewards will be distributed in STARS, and receivers can stake them for even more rewards.
The current yield stands at 889%, attracting over 828 million STARS.
Crypto All-Stars will also remain transparent, and all its code, which complies with the ERC-1155 standard, has been audited by SolidProof.
YouTube analysts believe STARS is undervalued at spot rates, and those who invest now may reap high benefits in the coming weeks after the DEX listing.
EXPLORE: 10 Best No KYC Crypto Exchanges for 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
