Shiba Inu (SHIB) Explodes 22% Daily, Other Memecoins Follow

Shiba Inu (SHIB) has long been a trendsetter when it comes to memecoins, and alongside Dogecoin, the two cryptocurrencies set the tone for a whole new market that can no longer be ignored.

• The whole market is in the green throughout the past 24 hours as Bitcoin’s price taps $43K in an interesting turn of events as of late.
• Shiba Inu (SHIB), however, surprised the market today with a massive surge upwards of 22%.
• This brings the total gains of the cryptocurrency to more than 34% for the past seven days, and it is now trading at around $0.00002764.

SHIB/USDT. Source: TradingView

• The last time the cryptocurrency traded at these prices was back on January 18th this year.
• Another interesting thing to note is that SHIB’s meteoric rise over the past 24 hours also brought many other memecoins up.
• Dogecoin is up about 6.5% and is ahead by three spots by means of total market capitalization, sitting at number 11.
• Teddy Doge (TEDDY) – one of the trending searches on CoinMarketCap – is up 31% at the time of this writing.
• Floki Inu (FLOKI) is up 14%, which is the same as another copycat – Floki One.