While the crypto market generally shows a bearish trend, Shiba Inu (SHIB) reached its weekly high, challenging the market. SHIB, which did not make a big leap like other meme coins in March, made investors curious about their expectations.
Price Fluctuations and Market Value
SHIB is trading at $0.00003004 with a 17% increase. It maintains its 11th place with a market cap of $17.8 billion and a 24-hour trading volume of $1,767,054,670. Market value shows a slight increase while trading volume fluctuates.
Increase in On-Chain Activity
The rally seen in Bitcoin exceeding $70,000 and altcoins in the general market paved the way for an increase in meme coin values. According to IntoTheBlock data, Shiba Inu recorded a significant increase in on-chain activity and the number of large transactions.
This increase led to a 516% increase in the number of transactions and an increase from 4.79 trillion to 7.23 trillion. It was observed that 539 transactions worth over 62 million dollars were moved to an anonymous wallet associated with Kucoin.
The 210% increase in the last 30 days represents one of the best values in a short time and keeps investors’ hopes alive. The continuity of the rise and the general vitality in the market creates optimism for SHIB’s future.
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