The most profitable cryptocurrency of the past day has been named

For the first time in a long time, the cryptocurrency Shiba Inu (SHIB) has become the leader of the day in terms of profitability. on June 18, the meme token’s quotes jumped by 5.9%, which was the highest among the top 100 cryptocurrencies by market capitalization.

According to CoinGecko, SHIB $0.00002455 Shiba Inu -0.57% Market capitalization $14.54 billion VOL. 24 hours $0.22 billion grew by 8.9% over the past week, and the total capitalization of Shiba Inu is $ 4.24 billion. As for the trading volume, it reached $ 230 million in 24 hours.

The owners of Shiba Inu expect further growth of the token after the long-awaited launch of the second level network Shibarium. The project team has been working on the blockchain for two years. At the moment, a test network called Puppynet is available to users: the number of addresses interacting with it exceeds 16 million, and the volume of transactions has exceeded 22 million. Although the exact date of Shibarium’s launch is still unknown, many expect it to happen in the coming months.

Shibburn’s data showed that over the past 24 hours, the token burn rate increased by 281% to 1.3 million tokens. This can definitely be considered good news for the Shiba Inu ecosystem, as the rate had dropped sharply the week before.

Maintaining a high SHIB burn rate is one of the community’s priorities as it helps to reduce the circulating supply of SHIB. Investors believe that an increase in the burn rate will have a positive impact on the price of the remaining tokens in circulation.