Shiba Inu Barks At Bears With 25% Gains, But Social Media Continues To Trend Dogecoin

Leading altcoins like Shiba Inu saw decent gains as the global crypto market value rose past $1.71 trillion on the strength of Bitcoin’s climb above $42,000. Meme coins, on the other hand, still had the hearts of the crypto audiences, with Shiba Inu recording the largest market gains and Dogecoin, the top dog coin, remaining the most talked about crypto in social media after BTC. Interest Surge In Shiba Inu On Monday, the memecoin surged to $0.00002961, its highest level since January 18, as the cryptocurrency market saw fresh buying interest. SHIB’s price has plummeted by nearly 80% from its all-time high of $0.00008870 prior to the retracement. Daily increases of near to 25% and weekly gains of more than 36% were recorded by the meme token. SHIB also saw a remarkable surge in trading volumes, with almost $2.8 billion traded at press time, a 244% increase. The 24 hours price chart of SHIB/USDT. Source: Tradingview SHIB was the sixth most traded cryptocurrency by Coin Market Cap at the time of publication, following Tether, Bitcoin, Ethereum, Bitcoin Cash, and Binance USD. According to Ishan Arora, Partner at Tykhe Block Ventures, a crypto hedge fund, the general crypto markets have been given a relief rally after weeks of persistent downtrend. Ishan noted: “Bitcoin and Etherum both bouncing off the lows have again given investors confidence in other coins such as Shiba Inu which have also bounced off weeks o...