Shiba Inu Coin surges 70% and ranks as the 11th largest token! Ecological BONE and LEASH both increased

This site (120bTC.coM): As Bitcoin continues to fluctuate at a high of $62,000, dog Meme coins led by Dogecoin (DOGE) have experienced strong gains recently. But there was no stopping.

SHIB rose more than 70% in a single day

According to Binance spot data, SHIB has risen for the eighth consecutive day today, soaring 72% in the past 24 hours and more than 130% in the past week. It is now quoted at $0.00002256, the highest since May 2020. SHIB's market capitalization also exceeded US$12.3 billion in one fell swoop, ranking 11th among all cryptocurrencies in terms of market capitalization, surpassing TRX and LINK.

The rapid rise in the market may be related to the official announcement six days ago that it would conduct experimental testing of the DN404 standard. This decision is related to their launch of DN404 project SHEB. It is reported that the DN404 standard is improved on the basis of the recently received attention ERC404. The standard was developed by Cygaar and Vectorized, the founders of ERC721A, as well as several other well-known developers. The release of this news triggered an overall rally in the market, causing the market to show a strong upward trend.

SHIB open interest on Binance exceeded $85 million

At the same time, Coinglass data showed that the open interest of SHIB futures contracts on Binance exchange rose to $85 million that day, reaching reached the highest level since August last year.

One data worth paying attention to is that it is found in historical statistics that whenever the open interest of the SHIB contract surges, it happens almost at the same time as Bitcoin reaches the top. Whether this situation will be repeated this time will require further time to verify.

Shiba’s open interest exceeded 100 million US dollars

BONE and LEASH rose by more than 18% and 22% respectively

Although SHIB initially It is regarded as a Meme coin, but it has been committed to getting rid of the Meme label and working hard to carry out other constructions.

In August 2023, Shib officially launched its own Ethereum L2 solution Shibarium, using the new ERC20 token Bone Shiba Swap (BONE) as Gas fee, and focusing on the Metaverse and GameFi fields.

Recently, Shibarium’s TVL has rebounded to the level on the first day of listing, exceeding US$1.32 million. The BONE token has also experienced huge gains. According to CoinGecko data, the price of BONE has increased by 18.4% in the past 24 hours and 36% in the past week. The price was temporarily reported at $0.8156 before the deadline.

In addition, the DEX Shibaswap launched by Shib in July 2021 also issued Doge Killer (LEASH) as a liquidity token. The current price has also increased by 22.4% in the past 24 hours and 35.8% in the past week. The price was tentatively reported at US$393.61 before the deadline.

Dog Meme coins are rising

Among other dog Meme coins, Doge, the Meme coin with the largest market value, has risen 20.4% in the past 24 hours, with the price exceeding 0.14 The US dollar has reached the 9th largest currency in terms of market capitalization.

Among them, the one with the most astonishing rise is Floki, which is a Meme coin project with the same name as Musk’s pet dog. It surged by 102% in a single day and 238% in the past seven days. It was temporarily trading at US$0.0001167 at the time of writing. .

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