SHIB Explosion: Shiba Inu Cryptocurrency Soars 183% in One Week

The bullish rally in memecoins continues to reach impressive heights. Meme cryptocurrencies experienced another week with significant increases in their price given the increase in the market and the upward trend of most cryptocurrencies. Meme coins stood out in the bull market with impressive growth.

One of the highlights in this bullish scenario is the Shiba Inu memecoin (SHIB), which has been showing an impressive price increase in recent days.

The SHIB token has been demonstrating strength and quite remarkable recovery power, rising 183.9% in the last seven days, in a movement that surprised the cryptocurrency community. The 12th largest asset in the cryptocurrency market recently achieved a major recovery in its price, reaching $0.00002597, a level last seen in 2022.

At the time of publication, the Shiba Inu price was quoted at US$0.00002731, up 28.3% in the last 24 hours. During this period, the meme cryptocurrency had a trading volume of US$4,686,918,554.

When analyzing the Shiba Inu’s impressive increase, it is worth noting that the price recorded greater growth in the month than in a year. In the last 30 days, SHIB has appreciated by 198.7%, while its growth in the last year was 139.0%.

High memecoins rally

Recently, meme cryptocurrencies have seen a price increase of over 500% and a nearly 3,000% increase in their trading volume, according to data shared by cryptocurrency analytics platform, Santiment, on March 4.

The survey highlighted that the memecoins Shiba Inu (SHIB), Pepe (PEPE), Floki (FLOKI) and Bonk (BONK) experienced a volume increase of 3,000% last week.

“Memecoins, especially those that were trending last week, have skyrocketed in trading volume due to rising prices and increased public interest. On average, $SHIB, $PEPE, $FLOKI, and $BONK saw +3,000% volume increase last week,” the platform noted.

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