Despite Market Dip, SHIB Price Delivers Impressive 121% Profits, Securing Shiba Inu’s Spot in the Top 10

Shiba Inu (SHIB) continues to capture investors’ attention amidst recent market volatility, as they remain committed to the long-term prospects of the cryptocurrency. Over the past two weeks, SHIB has witnessed a significant price surge of 378%, propelling its market capitalization to new heights.

Although SHIB experienced a recent dip, it still boasts a remarkable 121% gain over the past week, a statistic that has investors closely monitoring its performance.

Cryptocurrency enthusiasts are particularly interested in Shiba Inu (SHIB) as they anticipate a potential surge, fueled by insights from Santiment, especially in light of the current market challenges.

Following Bitcoin’s historic peak of over $69,000 on March 5, the entire crypto market faced obstacles, and Shiba Inu was no exception to this trend. Within a short span of time, SHIB witnessed a 40% drop, falling from $0.00004218 to a low of $0.00002555, making it difficult to reclaim its desired price of $0.00003.

Despite this setback, Santiment’s data reveals that traders remain optimistic about Shiba Inu’s recovery. Even with the market correction, traders believe SHIB has the resilience to bounce back, garnering attention alongside other meme coins like Dogwifhat (WIF).

During the market adjustment, meme coins took center stage, with WIF, a companion in the meme coin trend, experiencing an astounding surge of 640% from $0.3068 on February 23 to a record high of $2.27 on March 6. Shiba Inu followed suit with an impressive 378% surge during the same period, riding the wave of excitement surrounding meme coins.

Discussions surrounding “SHIB” flooded the crypto scene, owing to Santiment’s AI summary. According to Santiment, the excitement stems from discussions about acquiring Shiba Inu and holding it for the long term.

Santiment highlights that the main reason behind the buzz surrounding SHIB is its recent remarkable performance. From February 23 to March 6, the value of Shiba Inu soared by a staggering 378%, causing a stir within the crypto community.

Furthermore, Shiba Inu’s market capitalization reached a new high of $20.96 billion, its highest point since December 2021. This achievement propelled SHIB into the top 10, a significant feat considering its modest market cap of $5.22 billion just a month prior.

Despite a recent 15% drop, with SHIB trading at $0.00003137 in the last 24 hours, the cryptocurrency has still managed to maintain an impressive 121% gain over the past week. Investors are closely observing Shiba Inu’s resilience amidst market fluctuations, contemplating its potential for a rebound.

If you’re interested in meme coins, here are some top choices that have the potential to make you a millionaire in this bullish market.