As an experienced analyst, I’ve closely watched the crypto market’s dynamics for years. The recent recovery of the market, led by Shiba Inu (SHIB), is a fascinating development that warrants attention. SHIB’s impressive double-digit gains within 24 hours, making it the best-performing cryptocurrency among the top 20 and sixth best in the top 100, is noteworthy.
Shiba Inu (SHIB), the second-largest meme digital currency, spearheaded the crypto market resurgence, recording impressive double-digit growths.
As a cryptocurrency analyst, I’ve observed that SHIB has managed to add a noteworthy 7% to its value in the last 24 hours based on CoinGecko’s latest data. This places it atop the list of gains among the leading twenty cryptocurrencies.
Among the top 100 cryptocurrencies, SHIB ranks as the sixth best performer. Five other coins – Notcoin (NOT), Arbitrum (ARB), Optimism (OP), MANTRA (OM), and Celestia (TIA) – have outperformed SHIB in terms of growth.
Certainly, SHIB has significantly outpaced its meme crypto counterparts in recent hours. For instance, Dogecoin has managed to increase by just 2.3% during this period. Most other coins have also recorded modest growth. On the other hand, Dogwifhat (WIF) has experienced a notable decline of nearly 6%, making it one of the poorest performers among cryptocurrencies with market caps above $1 billion.
card
As a crypto investor, I’ve been keeping an eye on the market and following the insights of industry experts. Recently, Murad Mahmudov, a former Goldman Sachs analyst, has shared his perspective that we may witness another round of meme coin mania in the crypto space. In the past, he recommended focusing solely on investing in meme cryptocurrencies.
In April, Mahmudov expressed his belief that the market value of Pepe (PEPE) would surpass both Shiba Inu (SHIB) and Dogecoin (DOGE) by the end of the month. Additionally, he predicted in May that WIF would surpass SHIB in terms of market capitalization.
card
Although SHIB has dropped over 81% from its peak value, it presently holds a market capitalization of $9.6 billion, ranking it as the 14th largest cryptocurrency. Meanwhile, PEPE and WIF trail significantly behind in the market cap rankings, occupying the 27th and 50th positions, respectively.
Read More
- USD ZAR PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- USD PHP PREDICTION
- USD COP PREDICTION
- USD PEN PREDICTION
- OXT PREDICTION. OXT cryptocurrency
- 1INCH PREDICTION. 1INCH cryptocurrency
2024-07-07 14:19