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- Newer memecoins are dominating the crypto market over SHIB.
- In the last 24 hours, 8 million SHIB tokens were transferred to a dead wallet.
In recent times, Shiba Inu (SHIB) tokens have shown strong performance, characterized by a high burn rate and unusual large-scale token transfers. This activity has correspondingly led to a record number of active SHIB holders. Meanwhile, several new memecoins have emerged, experiencing significant price peaks. Notable among these are PEPE, WOJAK, and CHAD.
What’s New in Memecoins?
PEPE, a memecoin featuring a frog, has been gaining substantial popularity in the crypto world. It currently boasts over 10,000 active holders against a maximum total supply of approximately 420 trillion tokens. According to CoinMarketCap, PEPE is valued at $0.0000002716, with a 130.92% increase in trading volume.
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On the other hand, WOJAK is another memecoin that connects users through memes and was launched this week. This Ethereum-based token was listed on Bitget, a major crypto exchange, alongside PEPE. The market price surged immediately upon listing. Currently, WOJAK trades at $0.0001388, reflecting an 11.51% decrease in trading volume.
Additionally, CHAD is another memecoin rallying in the current crypto market, showing extreme bullishness. It is now listed for trading on UniSwap v2 and v3. CHAD has a maximum supply of around 235 billion tokens and is currently priced at $0.00001516, with a 4.45% increase in trading volume, according to CoinMarketCap.
The rise of various memecoins with strong support and opportunities may be contributing to SHIB’s current price decline. As per CoinMarketCap, SHIB is trading around $0.0000109, while 8 million tokens were transferred to a dead wallet in the last 24 hours.
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