Shiba Inu Explodes 7% in an Hour: Is the SHIB Bull Run Back?

TL;DR

• The global cryptocurrency market capitalization has surged, with leading cryptocurrencies and meme coins experiencing significant gains.
• Shiba Inu’s price spiked, improving profitability for the majority of its holders.

The cryptocurrency sector has headed north in the past few hours, with the global market capitalization surging above $2.75 trillion and leading digital assets such as Bitcoin (BTC), Ethereum (ETH), Solana, and Binance Coin (BNB) being well in the green.

The meme coin niche experienced a boost, too, and Shiba Inu (SHIB) is among the best performers. The price of the self-proclaimed Dogecoin-killer spiked by 7% in the past hour (per CoinGecko’s data), while its market capitalization exceeded $17 billion.

The latest surge  puts  over 63% of the coin’s holders into profitable territory (at least on paper). In comparison, over 90% of SHIB investors were underwater in September last year when the valuation was struggling to take off.

Some analysts believe Shiba Inu is yet to experience a significant pump, with SHIB KNIGHT and JAVON MARKS envisioning triple-digit increases in the near future.

The asset is not the only meme coin witnessing substantial gains today (March 25). Dogecoin (DOGE) is up 4.5% on a 24-hour scale, Pepe Coin (PEPE) has jumped by 9%, whereas dogwifhat (WIF) has soared by 20%.