The popular Shiba Inu memtoken has risen in price by more than 20% over the past week. This allowed it to actively become the most efficient digital asset in the top 100 by market capitalization. It is noteworthy that the daily trading volume has grown over the past day by $326 million, which is quite impressive.
OKB (OKB) is in 2nd place, adding 14% within 7 days. This is followed by ThorChain, which gained 12% and DyDx, which gained 11%. According to many analysts, Shiba Inu’s apparent surge is due to a combination of factors, among which the high activity of developers in the SHIB ecosystem stands out in particular. According to representatives of the analytical company Kaiko, the upcoming global update of Shibarium also has a significant impact.
This is a long-awaited update for the community that has the potential to bring many strategic benefits to the Shiba Inu ecosystem in the future. These include faster and more cost-effective transactions, increased scalability, and an advanced network security standard. Most experts agree that the Shibarium update will have a positive impact on the dynamics of the memtoken itself.
At the moment, the asset is trading near the $0.00001004 mark, having risen in price over the past day by more than 3.2%. Analysts also note that in anticipation of the launch of Shibarium, the volatility of the asset can seriously increase, and therefore it is necessary to act carefully.