Shiba Inu's SHIB/USD 72% monthly gain and its active coin-burning mechanism continue to fuel optimism among traders.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Shiba Inu SHIB/USD | $0.00002905 | $17.1 Billion | +1.6% | +21% |
| Dogecoin DOGE/USD | $0.4164 | $61.2 Billion | +1.7% | +10.2% |
| Pepe PEPE/USD | $0.00002025 | $8.5 Billion | +1.1% | +12% |
Trader Notes: Crypto trader Bluntz Capital expects meme coin enthusiasm to reignite retail interest in projects like Dogecoin, Shiba Inu and Floki.
Trader Astekz says Shiba Inu is consolidating and could start a new uptrend before Dogecoin.
Statistics: Shibburn data shows a single transaction burned 2.02 billion SHIB tokens, propelling the daily burn rate up by 3,454.2%.
IntoTheBlock data shows despite a 2.3% rise in large transactions, daily active addresses fell by 24.4%.
High-value transactions above $100,000 dropped from 1,776 to 892 within 24 hours.
Daily transactions remained stable at 4.74 million, consistently exceeding the 4 million mark for over a month.
Analytics firm Santiment posted data showing strong network growth for SHIB, with 7,548 new wallets added on Dec. 1, reflecting heightened community engagement.
The on-chain analytics platform emphasized that while short-term price volatility may occur due to increased retail activity, the long-term trajectory points to growing utility on Shiba Inu’s blockchain.
Community News: The Shibarium team announced a pivotal hard fork scheduled for late Dec. 2 to address scalability challenges.
The upgrade aims to enhance network performance, enabling seamless handling of more transactions during peak periods.
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