shiba inus (CRYPTO:SHIB) jumped 17.3% to $0.0000096 this morning, gaining alongside other well-known meme tokens, including Dogecoin (CRYPTO:DOGE), which recorded +6.1%. and Solana.
SHIB Performance
Period
% change (+/-)
at 24 hours
+ 17.5%
at 24 hours against the BTC
+ 18.4%
at 24 hours against ETH
+ 17.3%
at 7 days
+21.8%
at 30 days
– 19.9%
since the beginning of the year
– 72%
Recovery
SHIB is among the most mentioned coins on Twitter, according to data from Cointrendz, after Bitcoin, Ethereum and Solana.
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It was also trending with retail investors on Stocktwits at the time of this article’s publication, not going unnoticed on CoinGecko either.
Overnight trading volume soared 615.7% to $1.7 billion, CoinMarketCap reports.
Coinglass says $5.44 million worth of SHIB liquidated in 24 hours as Ethereum-based token’s price soars
Why ?
The main developer of SHIB, Shytoshi Kusamasaid in a recent tweet that “things are moving pretty well on all fronts.”
Lastly, things are moving quite well on all fronts and over the next few weeks you will begin to see the things we’ve been working on come to fruition at, what looks to be, when Shib (and the world) needs it most.
“In a few weeks, you will see the new things we have been working on come to life, when the Shib (and the rest of the world) need them most”.
A consequence of the burning?
Shibburn.com noticed that a total of 580.64 million SHIB tokens were burned in 24 hours, across 51 transactions.
In the past 24 hours, there have been a total of 580,638,304 $SHIB tokens burned and 51 transactions. Visit to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
The SHIB and DOGE rallies run in parallel. On Tuesday, the CEO of Tesla Inc. (NASDAQ:TSLA), Elon Musk, reiterated his support for the latter.
“Tesla accepts DOGE as payment for the purchase of certain goods, and SpaceX will do the same. I intend to personally support Dogecoin,” he asserted at the Qatar Economic Forum in Doha.
What the web thinks
The rise in SHIB’s price did not go unnoticed on crypto-Twitter, where supporters of the token shared memes.
