Meme coins seemed to have a good weekend as the top 2 most popular memecoins Shiba Inu (SHIB) and Dogecoin (DOGE) both had unexpected spikes yesterday. Shiba Inu has increased by more than 30% from 0.00001516 USD in the early morning to 0.00001774 USD. SHIB’s trading volume reached $3.41 billion in the last 24 hours, the highest level since May. At the time of writing, SHIB is trading around $0.00001584.
Since Shiba Inu founder Ryoshi left the project, the SHIB community leaders have vowed to carry on, with or without Ryoshi. The project has created a new ShibBurn portal wherein users can participate in burning their SHIB tokens and get rewarded for doing so. A Doggy DAO was also launched to empower the $SHIB community and launch its own metaverse project.
Shiba Inu also announced plans to release a stablecoin, a rewarded token, and a collectible card game last month. Despite the market crash, Shiba Inu still attracted 20,000 new users in June.
With those achievements, SHIB has officially overtaken AVACX to become the 12th largest cryptocurrency by market cap. Meanwhile, the biggest rival of Shiba Inu, Dogecoin, has also increased 8% from $0.0771 to $0.0838 over the same period. The last time DOGE traded above $0.08 was at the beginning of June. In its heyday last year, DOGE used to trade at $0.34.
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