Crypto: Shiba Inu's Transaction Volume is Exploding Despite Market Turbulence

In a context of high volatility in the crypto market, Shiba Inu (SHIB) stands out with a spectacular increase in its transaction volume. This surprising development comes as the memecoin sector experiences a rebound after a significant correction.

A resurgence of interest in SHIB despite turmoil in the crypto sphere

The crypto market has gone through a tumultuous period in the last 24 hours, with notable drops for many assets. Shiba Inu was not exempt from this trend, recording a 6.4% decrease at its lowest point.

However, the resilience of SHIB quickly manifested, with the token now showing a 3% gain compared to the previous day.

The most striking element remains the explosion in transaction volume for SHIB. According to CoinMarketCap data, this surged by 140% over a 24-hour period. This massive increase reflects renewed investor interest in the memecoin, despite an uncertain market context.

Nonetheless, SHIB’s burn rate remains in negative territory. The Shibburn platform reports a 0.49% decrease in the last day, with only 10 million tokens destroyed. This destruction mechanism, aimed at reducing the circulating supply and supporting the price, seems to be temporarily stalling.

The memecoin sector in full swing

Shiba Inu’s recovery is part of a broader rebound in the memecoin sector. According to CoinGecko, this category shows an overall increase of 4.8% in the last 24 hours. Some cryptos stand out particularly, such as WIF (+18.4%), BONK (+15%), and FLOKI (+12%).

It is worth noting that despite its popularity, SHIB lags behind these performances. This situation could be explained by a certain caution among investors regarding the most established memecoins, in favor of newcomers that are more volatile but potentially more lucrative in the short term.

The crypto market continues to demonstrate its unpredictable nature. The surge in Shiba Inu’s transaction volume, coupled with the overall rebound of memecoins, illustrates the resilience and dynamism of this sector in the face of fluctuations.