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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

SHIB Profitability Pumps As Meme Coins Continue To Rally

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Shiba Inu

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The SHIB token has been on an incredible rally recently, pumping more than 18% in just the past week. This growth can be attributed to the current increase in the crypto market as a whole. SHIB, much like other meme coins, has a high degree of volatility, but it nevertheless manages to draw an engaged community of investors. 

SHIB Pumps On Profitability

According to data from IntoTheBlock, a blockchain and cryptocurrency market analysis website, the number of holders making money off the current market price of SHIB is currently ranging at its highest point in many months. 

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PEPE

PEPE Surges By 34% Amid General Market Recovery

1 year ago

The price of SHIB, the self-proclaimed “Dogecoin Killer,” skyrocketed from $0.000007 to $0.0000084 at a point today, propelling the number of holders in profit to almost 50%. This metric has since calmed down to 20% with SHIB now trading at $0.000007854. However, this figure is likely to climb back up as the current crypto sentiment continues.

Shiba Inu

14% of SHIB holders in profit | Source: IntoTheBlock

SHIB started as just another dog-themed meme coin, but it has gained real popularity and value. SHIB is now the 17th biggest cryptocurrency and second largest meme coin with a market cap of over $4.6 billion. According to data from Coinmarketcap, the meme coin’s price has had an 18.87% increase in the past week and an increase of 178% in trading volume in the past 24 hours.

Meme Coins Rally As Crypto Sentiment Improves

SHIB is not the only meme coin pumping right now and the meme coin rally shows no signs of slowing down any time soon. Other meme coins have also skyrocketed in value to a total market cap of $15.6 billion, and PEPE is leading the charge. 

Shiba Inu (SHIB) price chart from TradingView.com

SHIB price trending above $0.000007 | Source: SHIBUSD on TradingView.com

The frog-themed meme coin which rose to popularity this year is up more than a massive 84% in the past 7 days. The meme coin is currently the biggest gainer among the top 100 crypto assets because of this surge and is currently trading at a price of $0.000001651.

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SHIB Jumps By 14% In A Single Day, As Shiba Inu “Worldpaper” Gets Closer

1 year ago

DOGE, the original meme coin and still the most well-known, has spiked over 9% in the past week. At the time of writing, DOGE is trading at $0.06637, up from $0.060 just a few days ago.

Other meme coins like FLOKI (FLOKI) and Dogelon Mars (ELON) have also pumped double-digits in the past few days. This surge can be attributed to a rise in the wider crypto market over the past 24 hours.

Featured image from Times Tabloid, chart from TradingView.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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