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The rally of Shiba Inu (SHIB), seems to be continuing strongly. The price of SHIB has skyrocketed today (March 4) with an increase of 30% in the last 24 hours and 180% in the last seven days.
Moreover, SHIB's market capitalization has exceeded $16 billion for the first time in two years, making it the 12th largest cryptocurrency.
The impressive performance surrounding the second-largest memecoin does not end here. According to data from CoinGecko, SHIB's daily trading volume has reached $5.4 billion, surpassing some of the top 10 altcoins.
Solana's SOL has a trading volume of about $3.2 billion during the same period, Ripple's XRP has reached $2.1 billion, while Cardano (ADA) lags behind with $1.2 billion.
Shiba Inu's gains coincide with the spike in numerous indicators related to the ecosystem. As CryptoPotato reported, SHIB's burn mechanism exploded by 30,000% last week, while the total number of transactions on Shibarium comes close to 400 million.