The price of Shiba Inu rose today to $0.000007, driven by a 2,807% increase in its token burn rate over 24 hours. The sudden increase in burn volume has sparked renewed optimism in the SHIB community, suggesting greater scarcity and long-term potential.
SHIB has gained 1% in the last 24 hours following a slight rebound after a week of consolidation. This comes as major cryptocurrencies, such as Bitcoin, Ethereum, Solana, and XRP, seek to recover after a week of corrections.
The broader meme coin market has also been steadily evolving, reaching a total market capitalization of 44.5 billion, representing a 5% increase in the last 24 hours. Other significant meme coins, such as Dogecoin, Pepe, and Pump.fun, have shown a slight recovery during this period.
Meanwhile, U.S. stock markets recorded slight gains today as investors cautiously await key indicators from the impending Federal Reserve meeting.
SHIB
0.0₅756
-3.81%
DOGE
0.12122
-4.46%
PEPE
0.0₅48
-5.69%