Naris - Cryptocurrency Enthusiast
Shiba Coin (SHIB), a prominent meme coin, has emerged as the top crypto gainer amidst the dull altcoin market, captivating investors' attention. Ranking first among 4880 altcoins on LunarCrush's social analytics platform, SHIB's remarkable increase in social volume has triggered a surge in its price, distancing itself from its yearly low.
In recent weeks, SHIB has experienced an impressive 51% surge, with diminished seller activity indicated by a low exchange supply, hinting at a positive market sentiment. The withdrawal of a massive 3.3 trillion SHIB from major cryptocurrency exchange platforms in July further reinforces this positive outlook.
The Shiba Inu team's relentless efforts in developing their layer2 solution have set them apart from other meme coins, showcasing their commitment to delivering innovative products.
Shytoshi Kusama, the leader of Shiba Inu, expressed enthusiasm for the coin's future and extended gratitude to the supportive community, elevating confidence in SHIB.
Regular Shiba Coin burns have been instrumental in boosting its value, with 304,764,835 SHIB tokens burned in the past seven days. Experts predict that monthly burns could reach a staggering $40 million if Shibarium gains attention during the testnet phase.
As long as the price holds steady around $0.0000096-95, short-term upward momentum is expected to persist, with an initial target of $0.000012.
Investors are keeping a close eye on Shiba Coin's promising growth trajectory, making it a top choice in the ever-evolving cryptocurrency landscape. With its impressive performance, SHIB has become a valuable addition to any crypto portfolio. Those looking to invest in this meme coin can find it on secure cryptocurrency exchanges or buy it from any reputable cryptobroker.