Shiba Inu ($SHIB) Price Plummets Amid Market Correction 😢
Hey, crypto enthusiast! Shiba Inu ($SHIB) has taken a hit recently, with its price dropping by 19% in the last seven days as part of a broader market correction. This decline has pushed SHIB out of the top 10 cryptocurrencies by market capitalization. Let’s take a closer look at what’s been happening with this meme-inspired token.
Avalanche ($AVAX) Overtakes SHIB in Market Capitalization 📉
- SHIB’s current market capitalization stands at $16.8 billion, down from its previous highs.
- Avalanche ($AVAX) has surged ahead with a total market capitalization of $19.4 billion, marking an 18% increase in the past week.
Shibarium Hits New Milestones 🎉
- Earlier this month, Shiba Inu’s layer-2 scaling solution, Shibarium, achieved a significant feat by surpassing the 400 million transaction mark.
- In January of this year, Shibarium had reached the 300 million transaction mark, showing continued growth and adoption.
SHIB Ecosystem Activity Surges 🚀
- On-chain data indicates a surge in daily active addresses for the SHIB token since the beginning of March.
- March’s daily active addresses hit a peak of 21,000, a substantial increase compared to February’s levels.
- This spike represents a nearly 2,000% surge from the previous month’s average.
Hot Take: What’s Next for SHIB Holders? 🤔
- On-chain data indicates a surge in daily active addresses for the SHIB token since the beginning of March.
- March’s daily active addresses hit a peak of 21,000, a substantial increase compared to February’s levels.
- This spike represents a nearly 2,000% surge from the previous month’s average.
Hot Take: What’s Next for SHIB Holders? 🤔
As a crypto investor, it’s essential to stay informed about market movements and trends. While Shiba Inu may be facing challenges in the short term, the cryptocurrency market is known for its volatility. Keep an eye on SHIB’s performance in the coming days to make informed decisions about your investment strategy.
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