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A trio of meme coins, Shiba Inu (SHIB), Floki (FLOKI), and Dogwifhat (WIF), are capturing attention in the cryptocurrency market with significant price surges and exciting developments.
Shiba Inu Price Surge
Following Bitcoin’s recent surge past $64,000, Shiba Inu saw its price skyrocket to a multi-month high on March 2. The SHIB price surged by 68.5% to $0.00002196, marking a weekly increase of 122.8%. This surge was accompanied by a 407% increase in 24-hour trading volume, totaling $7.389 billion.
The surge in price and activity was fueled by a massive whale transaction involving the transfer of 3.02 trillion SHIB. Additionally, large holder inflows increased by 700% since Feb. 25, with a significant rise in SHIB holdings.
Developments in the Shiba Inu Community
Amidst the price surge, the Shiba Inu community has seen several developments, including the launch of SHEboshi, the upcoming KNINE launch, and Sharbi’s FETCH bridge. The burn rate of SHIB also witnessed a significant increase, with 3.75 million SHIB destroyed in the past 24 hours, leading to a decrease in the coin’s supply.
Technical indicators and derivatives data support a bullish outlook for Shiba Inu, although caution is advised due to the overbought condition signaled by the Relative Strength Index (RSI).
Floki and Dogwifhat Price Surge
Floki, another meme coin, has seen a price increase of nearly 80% in the last 24 hours, trading at $0.0001126. The coin’s 24-hour trading volumes surged by almost 890%, reaching $1.277 billion. Dogwifhat (WIF) has also experienced a rapid ascent in the market, with a 21% price increase to $1.26 and a 41.90% surge in trading volume.
With significant whale activity and positive sentiment surrounding Dogwifhat, both Floki and Dogwifhat are attracting attention from investors and traders.
Excitement continues to grow around these meme coins, with the potential for significant gains in the near future. Stay updated on the latest news and developments in the cryptocurrency market on Global Crypto News.
