Shiba Inu saw significant buying within hours
According to data from CoinMarketCap, the 24-hour Shiba Inu trading volume shows a sharp increase of 114%. Similarly, the market valuation of the Shiba Inu has increased by 7% to 7.68 billion. The latest increase may suggest that over $490 million in SHIB market capitalization has flown in over the past 24 hours.
In the previous 24 hours, new money has also poured into the “doggone doggerel” economy, which has reported a slight 4% increase in market value. This class of dog-themed cryptocurrencies is currently valued at $17.35 billion, according to data from CoinMarketCap.
This asset class also saw a 88% increase in trading volume, indicating continued interest in the Doge-themed cryptocurrency.
As reported by U.Today, Shiba Inu saw significant buying within hours, printing two massive green hourly candles before retreating slightly at the time of publication. The buying pressure could partly be traced to whales or large investors who are taking advantage of the present market conditions to accumulate at a discount.
According to data from WhaleStats, the Shiba Inu was among the top 10 in terms of trading volume in the 100 largest ETH whales over the past 24 hours. At the time of publication, the Shiba Inu was up 7% at $0.0000014.
BONE is also up 10.95%
Notably, Shiba Inu’s ecosystem BONE was up 10.95% in the last 24 hours at $0.91. The Shiba Inu governance token was also being actively traded, with 24-hour trading volumes rising 62.3%.
Bone’s market valuation was also up 10% within the same time frame. With less than 10 lakh bones left for cultivation, there is excitement about the property.
In June, the Shiba Inu community overwhelmingly voted in favor of halting all BONE farming upon reaching 230 million minted tokens. The remaining 20 million tokens were intended to be saved for Shibarium validators. Given this, the maximum supply for BONE remains at 250 million.
As U.Today reports, the Sheba Eternity game was showcased at the world’s biggest gaming event by sports legend William Volk, who attended the event.
