Shiba Inu & Dogecoin to the Moon, Will it Continue?

  • Shiba Inu ($SHIB) surged by over 15% in the last 24 hours.
  • Dogecoin ($DOGE) climbed by around 11% in just 7 days.

Since the start of 2023, the global crypto market encountering bullish momentum. Also, social media was buzzing with dog-themed cryptocurrencies. The Shiba Inu ($SHIB) community, known as the ‘SHIB Army,’ has been waiting for the beta version of the Layer-2 scaling solution, “Shibarium”, which is designed for the SHIB ecosystem. 

On January 16, the Shiba Inu community alerted crypto enthusiasts through the memecoin’s official Twitter account that the SHIB community will get access to the ‘Shibarium as soon as possible’.  As a result, $SHIB and $BONE token values have dramatically soared. In addition, Shiba Inu’s rival Dogecoin ($DOGE) also witnessed massive price surges. 

Meme Tokens Surging Massively

The market’s adoration of all things Shiba Inu is still getting strong and evidenced significant rises. According to CoinGecko, Shiba Inu ($SHIB) surged by over 15% in the last 24 hours with a trading volume of $1 billion. At the time of writing, Shiba Inu traded at $0.085970, up 31% in 7 days and 48.5% in just 14 days. $SHIB has a market cap of $7 billion. 

Also, the Shibaswap ecosystem’s governance token Bone ShibaSwap ($BONE) price has risen approximately more than 25% over the last week and by over 64% in the last 14 days. However, prior to release, the Doge killer Shiba Inu ranked as the “second most safe crypto project” in the blockchain industry with a Skynet Trust Score of 95, as per CertiK. 

Meme cryptocurrency price chart (Source: CoinGecko)

Further, the first and largest meme cryptocurrency, Dogecoin ($DOGE) climbed by around 11% in just 7 days and 22% in the past two weeks with a market cap of over $11 billion. $DOGE traded at $0.00001207 with 24 hours trading volume of $680 million, which increased by over 67%.

Moreover, prominent cryptocurrencies such as Bitcoin ($BTC) and Ethereum ($ETH) also beholds greens in their price chart. $BTC increased by around 21% and $ETH surged by 18% in the last week. 

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A journalism graduate who is passionate about writing loves to dance and travel currently starts exploring blockchain technology.