Shiba Inu and other meme coins are experiencing a market resurgence, with Shiba Inu showing a significant 6.4% gain in 24 hours.
Points
- Shiba Inu’s price saw an increase between $0.00001596 and $0.0000171, ending at $0.00001698.
- The 24-hour trading volume for Shiba Inu reached $217.8 million.
- Other meme coins like Brett and PEPE also showed significant movement.
- Despite short-term gains, Shiba Inu experienced a 21% decrease over the past 30 days.
The meme coin market has seen a notable revival, with Shiba Inu leading the charge with a 6.4% gain in the last 24 hours. Shiba Inu’s price fluctuated between $0.00001596 and $0.0000171, eventually stabilizing at $0.00001698. This surge was accompanied by a significant 24-hour trading volume of $217.8 million.
Shiba Inu 24-hour price chart | Source: CoinGecko
In addition to Shiba Inu, other meme coins like Brett and PEPE have shown considerable movement. Brett, ranked #72 in terms of market cap among all cryptocurrencies and #7 among meme coins, faced a tough month, losing over 22% of its value. After hitting its all-time high of $0.1933 on June 9, Brett’s price declined to as low as $0.1079, currently sitting 40% lower than its ATH.
Brett 24-hour price chart | Source: CoinGecko
Similarly, PEPE experienced a drop of 4.5% over the past week, underperforming in the global crypto market, which is up 2.6%. Despite these declines, the overall trend in meme coins suggests potential volatility and opportunities for traders.
Pepe 24-hour price chart | Source: CoinGecko
解説
- Market Volatility: Meme coins like Shiba Inu, Brett, and PEPE show significant price fluctuations, indicative of the highly volatile nature of this segment of the cryptocurrency market.
- Trading Volume: High trading volumes, such as Shiba Inu’s $217.8 million in 24 hours, suggest strong investor interest and market activity.
- Price Trends: Despite short-term gains, long-term trends indicate substantial depreciation, with Shiba Inu losing 21% of its value over the past 30 days.
- Market Performance: Comparison with the broader crypto market performance （up 2.6%） shows meme coins’ underperformance, emphasizing the need for cautious trading strategies.