TL;DR
The global cryptocurrency market capitalization has surged, with leading cryptocurrencies and meme coins experiencing significant gains.
Shiba Inu’s price spiked, improving profitability for the majority of its holders.
The cryptocurrency sector has headed north in the past few hours, with the global market capitalization surging above $2.75 trillion and leading digital assets such as Bitcoin (BTC), Ethereum (ETH), Solana, and Binance Coin (BNB) being well in the green.
The meme coin niche experienced a boost, too, and Shiba Inu (SHIB) is among the best performers. The price of the self-proclaimed Dogecoin-killer spiked by 7% in the past hour (per CoinGecko’s data), while its market capitalization exceeded $17 billion.
The latest surge puts over 63% of the coin’s holders into profitable territory (at least on paper). In comparison, over 90% of SHIB investors were underwater in September last year when the valuation was struggling to take off.
Some analysts believe Shiba Inu is yet to experience a significant pump, with SHIB KNIGHT and JAVON MARKS envisioning triple-digit increases in the near future.
The asset is not the only meme coin witnessing substantial gains today (March 25). Dogecoin (DOGE) is up 4.5% on a 24-hour scale, Pepe Coin (PEPE) has jumped by 9%, whereas dogwifhat (WIF) has soared by 20%.
The post Shiba Inu Explodes 7% in an Hour: Is the SHIB Bull Run Back? appeared first on CryptoPotato.
