"Crypto fans of this dog still have hope, maybe it's the burning method that can raise the price of SHIB."
As investors gain confidence in the cryptocurrency market, the second largest memecoin Shiba Inu (SHIB) has finally surged 23% in the past 7 days beating Dogecoin (DOGE) which only gained around 20%.
In addition to DOGE, SHIB also took the position of Wrapped Bitcoin (WBTC) as the most traded digital asset among the top 100 Ethereum (ETH) whales and the top 10 cryptos bought by the largest ETH whales.
The report reached its conclusion according to SHIB's trading volume, where whales have so far held $81 million of the memecoin.
In the meantime, the SHIB community nicknamed the SHIBArmy which wants to increase its price aggressively has burned a large amount of the memecoin recently.
The proof is that SHIB jumped by 500% in the last 24 hours when SHIBArmy burned almost 11.8 million memecoins.
The community believes that SHIB will see success in the near future following the development of its growing ecosystem.
As of this writing, the price of SHIIB has managed to climb over 12% to $0.000010 in the last 24 hours with its trading volume up around 81% at $640 million.
