Shiba Inu (SHIB) Bounces Back With 300% Rise in Transaction Volume

• The global market cap has seen an effective surge of a 4.77% over the previous day.
• The market price of Shiba Inu stands at $0.000008007.

One of the most trending memecoins, Shiba Inu (SHIB) achieved a stabilized market value with a price surge over the last 24 hours. It is noted that the SHIB transactions have increased by 300% following the market growth as per data from CMC.

The rapid surge in the overall crypto market cap has created an impact on the prices and volumes apart. Several enthusiasts are excited to jump on the bullish momentum with FOMO playing a major role.

Impacts of SHIB Price Surge

Earlier this Friday, the global market capitalization has seen an effective surge of a 4.77% over the previous day. This was following the historic decision in Ripple vs SEC case. As other cryptocurrencies are skyrocketing to their respective milestones, Shiba Inu has also gained its market cap rising to 6.35%. 

(Source: CoinMarketCap)

Moreover, the trading volume has surged 244.49% worth $252M at the time of analysis. The market capitalization accounts for an increase of 9.17% worth $4,900,878,882. The favorable bullish momentum has prompted the crypto community to trade in large amounts, especially whales and dolphins. Also, the burn rate has decreased a bit.

According to CoinMarketCap, the current market price is at a 13.22% increase and ranges at $0.000008308 over the 7 days statistical results.  Meanwhile, the transaction volume seems to continue as the traders resemble the bullish momentum. The altcoin season perceives over the day whereas SHIB ranks the 17th position in overall market capitalization. 

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