Crypto: Shiba Inu trading volume explodes despite market turbulence

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

Renewed interest in SHIB despite turbulence in the crypto sphere

The crypto market has gone through a turbulent period over the past 24 hours, with notable declines for many assets. Shiba Inu was no exception to this trend, recording a 6.4% decline at its lowest level.

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

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

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

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The booming memecoin sector

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

It should be noted that despite its popularity, SHIB still lags behind this performance. This situation could be explained by a certain caution on the part of investors towards the most established memecoins, in favor of new entrants who 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 trading volume, coupled with the general rebound of memecoins, illustrates the resilience and dynamism of this sector in the face of fluctuations.

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