As a seasoned crypto investor with a knack for spotting trends and a portfolio that has weathered more than a few market cycles, I must admit that the recent surge of meme coins like Shiba Inu (SHIB) has caught my attention. The 21.2% price spike in just 24 hours is certainly impressive, especially considering it’s the only cryptocurrency in the top 100 to do so.
Right now, the meme-based cryptocurrency Shiba Inu (SHIB) is significantly outdoing all the tokens within the top 100 list, as indicated by data gathered from the analytics tool CoinGecko.
In the past day, Shiba Inu (SHIB) has amazed its community with a significant 21.2% surge in price. At the moment, it’s being traded at approximately $0.000019.
Remarkably, Shiba Inu (SHIB) stands out as the only cryptocurrency that has seen a surge of over 20% within the last day.
The token used within the Conflux network, known as CFX, has experienced a significant price increase of approximately 17.6%. However, it’s important to note that this growth places it in the second position when compared to other tokens in its category.
Despite the significant increase in price, the bulls have a considerable amount of effort ahead to eliminate another decimal point. Shiba Inu (SHIB) nearly attained this feat back in October 2021, reaching an all-time high of $0.000086. However, at present, the meme coin has plunged 77.7% from its maximum value.
Meme coin dominance
SHIB is far from being the only meme coin that recently showed stellar performance.
In fact, the CoinGecko top 100 is currently being absolutely dominated by this sector of the cryptocurrency market.
Currently, the meme coin on the Solana network, Bonk (BONK), has surged approximately 17%, positioning it as the third highest performing cryptocurrency within the top 100.
These digital currencies – Brett (BRETT), FLOKI (FLOKI), Pepe (PEPE), and Dogecoin (DOGE) – have each experienced double-figure percentage increases in value.
Even though dogwifhat (WIF) fell short of joining the double-digit club, it still saw a respectable 9% price spike. This puts it ahead of virtually any cryptocurrency project in the top 10.
Bitcoin reclaims $65,000
In the meantime, Bitcoin has reclaimed the $65,000 level, currently changing hands at $65,142.
The flagship cryptocurrency has managed to defy the odds since it is on track to end this September in the green despite the fact that it tends to be the worst-performing month for Bitcoin.
Currently, the cryptocurrency world is looking forward to what’s being called “Uptober.” Historically, the crypto market has shown stronger performance during the last quarter of the year.
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2024-09-27 09:32