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July 19, 2024
Market Analysis

SHIB, WIF, BONK Post Significant Gains

Over the previous 24 hours, a number of meme cash, together with Shiba Inu and Floki Inu, have skilled a major surge in worth, boasting positive factors exceeding 50%.

Certainly, this exceptional value efficiency has propelled many traders to substantial income, underscoring meme tokens’ rising curiosity and potential profitability.

SHIB Takes Centre Stage in Meme Coin Rally

In keeping with pricing information from BeInCrypto, SHIB has surged by a formidable 69% up to now 24 hours. This upswing in Shiba Inu’s worth marks a continuation of a optimistic development, with the token having gained 128% over the past week.

“Shiba Inu is the most recent meme coin surging in worth after Dogecoin, Bonk, Floki, and Pepe have all taken their turns within the solar because the work week attracts to an in depth,” blockchain analytical agency Santiment said.

These substantial positive factors have prompted many holders to capitalize on their SHIB investments, resulting in some promoting off their holdings.

Certainly, a crypto whale just lately pocketed over $2.5 million in income after depositing 365.36 billion SHIB to Binance. This crypto whale initially withdrew the funds from Binance when it amounted to $3.24 million between November 17 and December 27, 2023, as reported by on-chain analytics agency Lookonchain.

Learn extra: 7 Scorching Meme Cash and Altcoins which can be Trending in 2024

Meme Cash Social Dominance. Supply: Santiment

The cryptocurrency market has additionally seen a meteoric rise in different meme cash. Over the previous week, a number of cryptocurrencies like PEPE, WIF, BONK, DOGE, and FLOKI have all witnessed important surges.

For example, WIF, a meme coin constructed on the Solana blockchain, has soared by 32% within the final 24 hours. It marks a staggering 319% improve up to now week. This distinctive efficiency has propelled each early and late traders into substantial income.

Lookonchain additionally reported {that a} single crypto whale holds an unrealized revenue of roughly $1.35 million after buying 673,394 WIF for 7,059 SOL, equal to $918,000. This whale has acquired a complete of two.82 million WIF tokens at a median value of $0.71 for 16,857 SOL, value $2 million.

Learn extra: 6 Finest Platforms To Purchase Shiba Inu (SHIB) in 2024

Equally, BONK, one other Solana-based meme coin, has surged 11% up to now 24 hours. This introduced its accrued positive factors for the week to greater than 100% and its market capitalization to $1.65 billion. In the meantime, Dogecoin has skilled a notable uptick of 16.7%, culminating in a weekly achieve of 66.6%, and PEPE has resurged by a formidable 250%.


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