In the last 24 hours, a few meme coins, notably Shiba Inu, Floki Inu, and PEPE, have experienced incredible surges, achieving gains exceeding 50%. Indeed, this astonishing price performance that emerged in the past two days has once again highlighted the incredible interest in meme coins and their potential profitability, yielding significant profits for many investors.
SHIB Takes Center Stage in Meme Coin Rally
According to the pricing data obtained, SHIB led the market with an incredible price increase of 69% in the last 24 hours. This surge in Shiba Inu’s value, coupled with a 128% gain following its recent upward trend, indicates a continuation of the positive momentum.
A statement by blockchain analytics firm Santiment went as follows:
Shiba Inu is the latest meme coin to increase in value after Dogecoin, Bonk, Floki, and Pepe took their spots in the sun as the workweek came to an end.
These high-yield gains have prompted many to benefit from their SHIB investments, while others have made sales during this period.
For example, a SHIB whale made an incredible profit of over 2.5 million dollars after transferring 365.36 billion SHIB to Binance.
According to data provided by onchain analysis firm Lookonchain, this crypto whale had withdrawn SHIBs worth 3.24 million dollars from Binance exchange between November 17 and December 27, 2023, based on past purchases.
Solana’s Memecoin on the Rise
In addition to SHIB, other meme coins in the crypto world have also seen incredible rises. Throughout the past week, other meme coins such as PEPE, WIF, BONK, DOGE, and FLOKI have also experienced noticeable increases.
For instance, WIF, which emerged on the Solana blockchain, captured all the attention with a 32% increase in the last 24 hours, translating to an incredible 319% rise over the last seven days. As a result of this price movement, both early investors and those who thought they were late have made significant profits.
Lookonchain also noted that a single crypto whale, after purchasing 673,394 WIF for 7,059 SOL, held unrealized profits of 1.35 million dollars, which was equivalent to 918,000 dollars at the time of writing.
