Shiba Inu Surges 28% as Meme Coin Market Capitalization Climbs

The meme coin market has experienced a notable upswing over the past day, with its total market capitalization rising approximately 2.56% to reach $23.73 billion.

Shiba Inu (SHIB) emerged as one of the strongest performers among the group, posting gains that far exceeded those of its peers.

The token's price rose roughly 8.90% over the past 24 hours to reach $0.000005347, pushing its seven-day gain to an impressive 28%.

This surge has drawn attention from traders and analysts alike, as SHIB's trading volume surged to its highest level in months, with technical indicators signaling potential near-term risks.