Important Shiba Inu (SHIB) Metric Skyrockets Amid Market Volatility
The broader meme coin sector has managed to recover following yesterday’s bloodbath.
Shiba Inu (SHIB) was also affected by the volatility in the crypto markets during the past 24 hours.
As CryptoPotato reported , at one point, the popular meme coin was down by about 6.4% yesterday.
Like most other altcoins, SHIB is currently recovering, trading at a 3% gain compared to yesterday’s price.
Data from CoinMarketCap reveals that the trading volume for SHIB over the past 24 hours alone skyrocketed by a massive 140% at the time of this writing.
Meanwhile, the burn rate remains in negative territory. According to Shibburn, it declined by 0.49% over the past day. Only 10 million SHIB was destroyed.
The overall meme coin sector has recovered following yesterday’s turbulence. According to CoinGecko, the category is up 4.8% in the past 24 hours.
Some of the more notable winners include WIF, which is up 18.4%, BONK, up 15%, and FLOKI, up 12%. By this metric, SHIB also lags behind.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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