As a seasoned researcher with extensive experience in the cryptocurrency market, I’ve observed that Shiba Inu (SHIB) is no exception to the volatility that has gripped the crypto markets over the past 24 hours. Yesterday, SHIB saw a significant drop of approximately 6.4%, as reported by CryptoPotato. However, much like other altcoins, it’s currently in the process of recovery, with a 3% gain compared to yesterday’s price.
The volatile crypto market conditions over the last 24 hours impacted Shiba Inu (SHIB) as well.
As CryptoPotato reported, at one point, the popular meme coin was down by about 6.4% yesterday.
SHIB, similar to many other alternative cryptocurrencies, has experienced a 3% rise in value since the previous day’s pricing.
At present, the trading activity for SHIB on CoinMarketCap has experienced a substantial increase of approximately 140% within the last 24 hours.
Over the last 24 hours, the destruction of SHIB tokens outpaced new supply, resulting in a net loss of approximately 0.49%. Specifically, 10 million SHIB were eliminated from circulation. The burn rate, which represents this ongoing process, continues to show a deficit.
The meme coin market as a whole has bounced back after experiencing turbulence the previous day. As reported by CoinGecko, this sector has seen a rise of 4.8% over the last 24 hours.
In simpler terms, among the notable cryptocurrencies with significant gains, WIF has risen by 18.4%, BONK by 15%, and FLOKI by 12%. Unfortunately, SHIB falls short in comparison to these three.
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2024-06-25 07:54