Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Shiba Inu (SHIB) Price Explodes 130% in a Week: Here’s How Many Holders are Currently in Profit

Shiba Inu (SHIB) Price Explodes 130% in a Week: Here’s How Many Holders are Currently in Profit

Cryptopotato2024/03/03 07:32
By: Dimitar DzhondzhorovMore posts by this author
BTC+0.73%MATIC0.00%SHIB-0.80%
Shiba Inu’s market capitalization briefly spiked above the staggering $13.5 billion mark.

TL;DR

  • Shiba Inu experienced a substantial price increase, outperforming major cryptocurrencies and bringing profits to a majority of its holders (at least on paper).
  • Its market cap rose notably, making it one of the top digital assets, but the token remains a risky investment due to its volatility.

Shiba Inu’s Massive Resurgence

The second-largest meme coin – Shiba Inu – was not among the best-performing cryptocurrencies last week when the market started booming. However, it quickly caught up with the gains recorded by Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and other digital assets and even outperformed them on a weekly scale.

SHIB currently trades at approximately $0.00002119 (per CoinGecko’s data), a 130% price increase for the past seven days.

Hitting a fresh 23-month high has benefited hundreds of thousands of Shiba Inu holders who have previously invested in the token. According to IntoTheBlock, more than 63% of those with exposure to the meme coin currently  sit  on paper profits. The trend was much different in September last year when around 90% of holders  were underwater .

SHIB’s price explosion coincides with a considerable spike in some essential metrics related to the coin’s ecosystem. Aggregated daily volume (where each transaction exceeds $100,000) surpassed the $1 billion mark, whereas daily active addresses reached almost 30,000 (a 230% increase compared to the figure observed on March 2).

SHIB Climbs the Crypto Ladder

Shiba Inu’s market capitalization skyrocketed from approximately $6 billion on February 27 to $13.5 billion at the start of March. Currently, the figure hovers at the $12.5 billion level, making SHIB the 12th biggest cryptocurrency

To reach the current spot, it surpassed leading altcoins, such as Bitcoin Cash (BCH), Polygon (MATIC), Polkadot (DOT), TRON (TRX), and more. 

Despite the triple-digit price increase in a matter of days and the chance of making substantial profits, investing in Shiba Inu and meme coins remains dangerous due to the infamous volatility of the realm, meaning investors should be extra cautious when diving in.

Those willing to deeply explore the niche, find out which are the biggest tokens, and the risks associated with them could take a look at our dedicated video below:

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!
Bitget Announcement2025/09/12 07:46
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
New spot margin trading pair — LINEA/USDT!
Bitget Announcement2025/09/11 10:04

Trending news

More
1
New spot margin trading pair — HOLO/USDT!
2
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

Crypto prices

More
Bitcoin
Bitcoin
BTC
$116,246.69
+0.40%
Ethereum
Ethereum
ETH
$4,637.53
-0.57%
XRP
XRP
XRP
$3.03
-1.78%
Tether USDt
Tether USDt
USDT
$1
-0.01%
Solana
Solana
SOL
$241.2
-2.21%
BNB
BNB
BNB
$928.63
-1.22%
USDC
USDC
USDC
$0.9998
+0.00%
Dogecoin
Dogecoin
DOGE
$0.2757
-4.56%
TRON
TRON
TRX
$0.3504
-0.12%
Cardano
Cardano
ADA
$0.8895
-2.94%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter