SHIB (Shiba Inu) rose 3.31% in 24 hours.

Gate News Bot reports, on September 9, according to CoinMarketCap, as of the time of writing, SHIB (Shiba Inu) is currently priced at $0.0000128452, with a rise of 3.31% in the last 24 hours, reaching a high of $0.0000129236 and a low of $0.0000120212. The 24-hour volume has reached $253 million. The current market capitalization is approximately $7.569 billion, an increase of $243 million compared to yesterday. Currently, SHIB ranks 23rd in global Crypto Assets market capitalization.

Shiba Inu (SHIB) is a token based on Ethereum, launched in 2020, and is a globally decentralized community-driven currency. SHIB is the core token of the SHIB ecosystem, which can be used in many places either through third parties or directly. The SHIB ecosystem also includes the governance token BONE and the reward token LEASH. In addition, the SHIB ecosystem has launched a Layer 2 network called Shibarium, as well as the NFT project Shiboshis.

Important recent news about SHIB:

1️⃣ SHIB token burn volume surges

Recently, the amount of SHIB token burn surged by 1047%, totaling 158,727,357 SHIB tokens destroyed. This large-scale token burn helps to reduce the circulating supply of SHIB, which may have a positive impact on its price.

2️⃣ The SHIB ecosystem continues to expand

The SHIB ecosystem is continually evolving, comprising not only the core token SHIB but also the governance token BONE and the reward token LEASH. At the same time, the launch of the Shibarium Layer 2 network and the development of the NFT project Shiboshis further enrich the application scenarios and value propositions of SHIB.

3️⃣ Market sentiment warms up, SHIB performs actively

As the overall Crypto Assets market sentiment warms up, the price and trading activity of SHIB have also become active. A rise of 3.31% and a volume of $253 million within 24 hours indicate that investor interest in SHIB is on the rise.

From a technical perspective, the current price of SHIB has broken through recent resistance levels and may continue to maintain an upward momentum in the short term. However, considering the high volatility of the Crypto Assets market, investors should still be cautious about potential retracement risks.

This message is not an investment advice, and investors should pay attention to market volatility risks.