According to CryptoPotato, Shiba Inu (SHIB) has experienced a 17% price drop in a week, but important indicators related to its ecosystem have surged by triple digits, hinting at increased investor interest and rising adoption. IntoTheBlock reports that SHIB's aggregated daily volume has neared the $600 million mark, a 200% surge compared to the figures observed on March 11. In comparison, Dogecoin (DOGE) has witnessed a more modest increase of approximately 92%. The gap between the two leading meme coins dropped to less than $5 billion earlier this month.
The impressive rally of the self-proclaimed Dogecoin-killer has led some to suggest that a flippening might be on the horizon. ChatGPT and Perplexity have both outlined their estimations about such a scenario. SHIB’s 250% price ascent in the past month has benefited investors who joined the ecosystem in its early days. One savvy trader made a profit of over $1.5 million after purchasing 50 billion tokens in 2021. Another meme coin that has experienced an exponential price surge is the Solana-based dogwifhat (WIF), with one individual making a profit of $4.8 million after buying more than 2.5 million assets at the end of 2023 for just $310. However, dealing with meme coins amidst the current market revival may lead to significant losses due to their notorious instability.
