ShibaInu sees a 5% price spike in 24 hours, outpacing major altcoins
, a popular meme cryptocurrency, saw its value spike 5% over the last 24 hours. With the most recent price spike, it has managed to outperform most other major altcoins, according to data from CoinGecko.competitor is currently ranked 15th by market capitalization. Other major altcoins have seen little volatility over the past 24 hours.
Shiba Inu's market cap stands at approximately $5 billion, with 24-hour trading volume reaching $240 million. Despite this recent uptick, the coin's value remains significantly lower than its peak in 2021. Overall, the crypto market appears to be in a state of flux, with a few coins showing significant short-term changes, while others remain relatively stable.Speculation is rife that the sudden price surge is linked to anticipation around Shiba Inu's forthcoming blockchain project, Shibarium. The Shiba Inu team has been fanning the flames of the so-called"Summer of Shibarium," even as it has yet to announce a definitive launch date for the project.
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