After charting impressive gains and recording new all-time highs, Bitcoin’s price has violently retraced to a weekly low of $67,000, dragging altcoins like Dogecoin and Shiba Inu down with it, leading to nearly $700 million in liquidated trader positions within the past 24 hours.
As the recent memecoin mania that propelled Shiba Inu (SHIB) to new highs cools off, the SHIB team has launched a critical product – SHIB Names, an Ethereum ENS competitor – which could drive renewed bullish momentum and push SHIB’s market cap above $30 billion.
Shiba Inu ecosystem saw over 24-hour trading volume topping $1.1B to surpass Cardano and other larger market cap coins alongside triple-digit returns for SHIB, BONE, and TREAT tokens.
