SHIB Surges 17% Amidst Ongoing Memecoins Rally

Krutika Adani

In the last 24 hours, Shiba Inu has surged 17% from $0.00002475 to $0.00002933 with a trading volume of $2.38 billion.

However, the crypto soon cooled down to $0.00002768.

For a short moment, Shiba Inu flipped Cardano to become the 10th largest crypto by market cap.

The memecoin gains from a lot of positive developments such as strong network growth and a high burn rate.

Analysts expect the crypto to reach its 0.1 cent target very soon.