Shiba Inu ($SHIB) has experienced an impressive surge of 43% over the past nine days, showcasing a significant increase in on-chain activity that outpaces many altcoins and other meme coins.
Key indicators such as trading volume, circulation, and whale transactions have all hit ten-week highs, reflecting heightened interest and fear of missing out (FOMO) among investors.
Additionally, SHIB’s social dominance has risen, suggesting that the buzz around the token is considerable, potentially signaling an approaching local top.
😺📈 Shiba Inu has surged +43% in the past 9 days with on-chain activity notably surging compared to altcoin alternatives and other meme coins. In addition to volume, circulation, and whale transactions spiking to 10-week highs, social dominance is up as well. This indicates that… pic.twitter.com/w13pdr4r7K
— Santiment (@santimentfeed) September 26, 2024
To break its year-high of $0.000043, reached in February, traders may need to exercise patience and wait for the current bullish momentum to settle down a bit.
A noteworthy transaction involved a new address, 0x9d9…Eb2d6, which had previously amassed $11.07 million worth of $SHIB in June and July. This address recently withdrew 546.7 billion SHIB from Coinone, valued at around $1.04 million.
The Wallet Now Holds A Profit Of About $1.45 Million
Originally acquiring the tokens at approximately $0.00001727, this address has since realized a profit of about $1.45 million, with the current price at $0.00001955. It now holds a total of 695.6 billion tokens, worth approximately $12.11 million.
这个在六七月囤积 1107 万美金 $SHIB 的新地址 0x9d9…Eb2d6，时隔两个月再次从 #Coinone 提出 5467 亿枚 SHIB，约 104 万美金！🐶
该地址六七月的成本价约 $0.00001727，已浮盈 145 万美金（现价 $0.00001955)；目前共持有 6956 亿枚代币，价值 1211 万美金
这波 Meme 行情 SHIB 七天也涨了 37%📈 https://t.co/MOlmRc53ND pic.twitter.com/I58EpUxljw
— Ai 姨 (@ai_9684xtpa) September 27, 2024
During this meme coin resurgence, SHIB has also gained 37% over the past week. Today, it added nearly $3 billion to its market capitalization and is up nearly 25% in the last 24 hours. This bullish momentum is a positive sign for all memecoin holders, as typically, when a leading coin like SHIB rallies, it tends to lift the entire market.
$SHIB has added nearly $3B to its MCap today
It's up nearly 25% in the last 24 hours.
For those who are holding memecoins, this is a good sign, as when the leader moves, the market goes even higher.
How many of you hold $SHIB? pic.twitter.com/BsJnyFER2G
— Wise Advice (@wiseadvicesumit) September 27, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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