{"id":196506,"date":"2024-03-05T15:05:53","date_gmt":"2024-03-05T15:05:53","guid":{"rendered":"https:\/\/www.techopedia.com\/?p=196506"},"modified":"2024-03-07T12:39:40","modified_gmt":"2024-03-07T12:39:40","slug":"shiba-inu-pumps-2x-are-you-late-to-the-shib-rally","status":"publish","type":"post","link":"https:\/\/www.techopedia.com\/shiba-inu-doubles-in-value-why-is-shib-pumping","title":{"rendered":"Shiba Inu Pumps 2X: Are You Late to the $SHIB Rally?"},"content":{"rendered":"<p>Last week, it was <a href=\"https:\/\/www.techopedia.com\/pepe-leads-meme-coin-frenzy-as-investors-search-for-the-next-dogecoin\">PEPE<\/a> sparking the <a href=\"https:\/\/www.techopedia.com\/definition\/meme-coin-memecoin#:~:text=On%20the%20technical%20side%2C%20meme,the%20blockchain%20ledger%20as%20usual.\">meme coin<\/a> market frenzy. This week, the second-largest meme coin <a href=\"https:\/\/www.techopedia.com\/shiba-inu-shib\">Shiba Inu<\/a> (SHIB) is leading the pack.<\/p>\n<p>Over the past seven days, as of March 5, 2024, dog-themed $SHIB gained nearly 280% to cement its place in the top 10 most valuable cryptocurrencies and one of the <a href=\"https:\/\/www.techopedia.com\/cryptocurrency\/best-meme-coins\">most prominent meme coins<\/a> as well as one of <a href=\"https:\/\/www.techopedia.com\/cryptocurrency\/best-shitcoins\">the most popular shitcoins<\/a> in the world.<\/p>\n<p>In this article, we analyze Shiba Inu\u2019s price movement and decipher whether it is too late to profit from the high-flying SHIB token.<\/p>\n<div class=\"su-note\"  style=\"border-color:#e5e54c;border-radius:\u201c3\u201dpx;-moz-border-radius:\u201c3\u201dpx;-webkit-border-radius:\u201c3\u201dpx;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#FFFF66;border-color:#ffffff;color:#333333;border-radius:\u201c3\u201dpx;-moz-border-radius:\u201c3\u201dpx;-webkit-border-radius:\u201c3\u201dpx;\">\n<h2><span id=\"key_takeaways\">Key Takeaways<\/span><\/h2>\n<ul>\n<li>Shiba Inu enters the list of the top 10 cryptocurrencies by market capitalization with a 280% gain in a week.<\/li>\n<li>Meme coins have outperformed the rest of the crypto market over the last 30 days.<\/li>\n<li>SHIB rose as investors changed positions from PEPE to SHIB in early March.<\/li>\n<li>On-chain data showed traders booking profits from their SHIB positions.<\/li>\n<li>\u201cSmart money\u201d flows out of SHIB to other meme coins.<\/li>\n<\/ul>\n<\/div><\/div>\n<div>\n    <section class=\"toc-sticky w-100 bg-white \">\n        <div class=\"toc-sticky__container container\">\n            <div class=\"toc-sticky__open d-flex align-items-end\" data-bs-toggle=\"collapse\"\n                 aria-controls=\"multiCollapse1\"\n                 data-bs-target=\"#multiCollapse1\">\n                <button\n                        class=\"btn btn-primary collapse-action-btn p-1 rounded-circle\"\n                        type=\"button\"\n                >\n                    <i class=\"icon-chevron-up\"><\/i>\n                <\/button>\n                <span id=\"toc-current-title\" class=\"d-flex align-items-center\">\n                    Table of Contents\n                <\/span>\n                <span class=\"toc-main-title-permanent\">Table of Contents<\/span>\n            <\/div>\n            <div\n                    class=\"collapse my-3\"\n                    id=\"multiCollapse1\"\n            >\n                <ol class=\"StepProgress\">\n                                                                        <li class=\"StepProgress-item current\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"key_takeaways\"\n                               onclick=handleScrollToTitle(\"key_takeaways\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Key Takeaways<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"meme_coin_market_frenzy_the_perfect_speculative_asset\"\n                               onclick=handleScrollToTitle(\"meme_coin_market_frenzy_the_perfect_speculative_asset\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Meme Coin Market Frenzy: The Perfect Speculative Asset?<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"shib_token_price_analysis_funds_move_from_pepe_to_shib\"\n                               onclick=handleScrollToTitle(\"shib_token_price_analysis_funds_move_from_pepe_to_shib\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Shib Token Price Analysis: Funds Move From Pepe to Shib<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"shiba_inu_outlook_are_you_late_to_the_shib_party\"\n                               onclick=handleScrollToTitle(\"shiba_inu_outlook_are_you_late_to_the_shib_party\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Shiba Inu Outlook: Are You Late to the Shib Party?<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"the_bottom_line\"\n                               onclick=handleScrollToTitle(\"the_bottom_line\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">The Bottom Line<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                    <\/ol>\n                <div class=\"toc-sticky__container__disperse\"><\/div>\n                <div class=\"toc-sticky__btn-top justify-content-center\">\n                    <button class=\"btn btn-link d-flex align-items-center\" onclick={btnTop()}><p>Show Full Guide<\/p><img decoding=\"async\"\n                                src=\"\/wp-content\/plugins\/table-of-contents\/assets\/images\/arrow-up-circle.svg\"\n                                alt=\"arrow-up-circle\">\n                    <\/button>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/section>\n    <div class=\"toc-sticky-list\">\n        <div class=\"toc-sticky__container container\">\n            <div class=\"toc-sticky__open d-flex align-items-end\" data-bs-toggle=\"collapse\" aria-controls=\"multiCollapse2\" data-bs-target=\"#multiCollapse2\">\n                <button class=\"btn btn-primary collapse-action-btn p-1 rounded-circle\"\n                        type=\"button\">\n                    <i class=\"icon-chevron-up up\"><\/i>\n                <\/button>\n                <span id=\"toc-current-title\" class=\"d-flex align-items-center\">\n                    Table of Contents\n                <\/span>\n            <\/div>\n            <div  class=\"collapse my-3\" id=\"multiCollapse2\">\n                <ol class=\"StepProgress\">\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item current \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"key_takeaways\"\n                                   onclick=handleScrollToTitle(\"key_takeaways\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Key Takeaways<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"meme_coin_market_frenzy_the_perfect_speculative_asset\"\n                                   onclick=handleScrollToTitle(\"meme_coin_market_frenzy_the_perfect_speculative_asset\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Meme Coin Market Frenzy: The Perfect Speculative Asset?<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"shib_token_price_analysis_funds_move_from_pepe_to_shib\"\n                                   onclick=handleScrollToTitle(\"shib_token_price_analysis_funds_move_from_pepe_to_shib\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Shib Token Price Analysis: Funds Move From Pepe to Shib<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t\n\t\t\t\t\t\t <span class=\"show_moretoc\">Show Full Guide<\/span>\n\t\t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"shiba_inu_outlook_are_you_late_to_the_shib_party\"\n                                   onclick=handleScrollToTitle(\"shiba_inu_outlook_are_you_late_to_the_shib_party\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Shiba Inu Outlook: Are You Late to the Shib Party?<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"the_bottom_line\"\n                                   onclick=handleScrollToTitle(\"the_bottom_line\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">The Bottom Line<\/a>\n                                                          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}\n<\/script>\n\n<h2><span id=\"meme_coin_market_frenzy_the_perfect_speculative_asset\">Meme Coin Market Frenzy: The Perfect Speculative Asset?<\/span><\/h2>\n<p><a href=\"https:\/\/www.techopedia.com\/definition\/27193\/bitcoin-btc\">Bitcoin<\/a> (BTC) may be grabbing the news headlines lately with its <a href=\"https:\/\/www.techopedia.com\/bitcoin-bull-run-2024\">move towards all-time highs<\/a>, but it\u2019s meme coins that are capturing retail investor attention due to their potential to provide outsized gains in a short period of time.<\/p>\n<p>Take a look at the price action of various cryptocurrencies in the past 30 days for reference, according to CoinMarketCap as of March 5, 2024:<\/p>\n<p class=\"p1\"><div class=\"su-table su-table-responsive su-table-alternate\">\n<table>\n<tbody>\n<tr>\n<td><strong>Token<\/strong><\/td>\n<td><strong>Returns in the Last 30 Days<\/strong><\/td>\n<td><strong>Category<\/strong><\/td>\n<td><strong>Market Cap<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Bitcoin (BTC)<\/strong><\/td>\n<td>+57%<\/td>\n<td>Store-of-value<\/td>\n<td>$1.32 trillion<\/td>\n<\/tr>\n<tr>\n<td><strong>Ether (ETH)<\/strong><\/td>\n<td>+61%<\/td>\n<td>Smart contract platform<\/td>\n<td>$446.8 billion<\/td>\n<\/tr>\n<tr>\n<td><strong>Solana (SOL)<\/strong><\/td>\n<td>+35%<\/td>\n<td>Smart contract platform<\/td>\n<td>$58.1 billion<\/td>\n<\/tr>\n<tr>\n<td><strong>Dogecoin (DOGE)<\/strong><\/td>\n<td>+133%<\/td>\n<td>Meme coin<\/td>\n<td>$26.3 billion<\/td>\n<\/tr>\n<tr>\n<td><strong>Shiba Inu (SHIB)<\/strong><\/td>\n<td>+348%<\/td>\n<td>Meme coin<\/td>\n<td>$23.62 billion<\/td>\n<\/tr>\n<tr>\n<td><strong>Pepe (PEPE)<\/strong><\/td>\n<td>+748%<\/td>\n<td>Meme coin<\/td>\n<td>$3.22 billion<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"p1\"><\/div>\n<p>The table above shows that the top three meme coins have outperformed big crypto names like BTC, <a href=\"https:\/\/www.techopedia.com\/definition\/32571\/ethereum-cryptocurrency#:~:text=Techopedia%20Explains%20Ethereum&amp;text=The%20Ethereum%20foundation%20documents%20many,use%20and%20implementation%20of%20Ethereum.\">ETH<\/a> and <a href=\"https:\/\/www.techopedia.com\/definition\/solana-sol\">SOL<\/a> by a wide margin over the last month. Arguably, there is no financial asset in this world that can post absurd returns in such short periods of time as meme coins.<\/p>\n<p>PEPE\u2019s mouth-watering 748% gains in the last one-month period were borderline ludicrous. No wonder many crypto traders are flocking to meme coins to make a quick buck, well-knowing the high volatility and market risks involved.<\/p>\n<p>A pseudonymous crypto enthusiast called <strong>artchick.eth<\/strong> aptly expressed the meme coin investor viewpoint by calling them \u201cperfect speculative assets.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Memecoins are becoming a crypto liquidity black hole<\/p>\n<p>In previous bull runs capital was over-allocated into all sorts of altcoins as investors craved more risk &#8211; there was even something called Dentacoin that in 2018 went to $1.6B, a coin for dentists or something<\/p>\n<p>This cycle we\u2026<\/p>\n<p>&mdash; artchick.eth \ud83d\udd25\ud83d\udc60 (@digitalartchick) <a href=\"https:\/\/twitter.com\/digitalartchick\/status\/1763995160113725476?ref_src=twsrc%5Etfw\" target=\"_blank\">March 2, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span id=\"shib_token_price_analysis_funds_move_from_pepe_to_shib\">Shib Token Price Analysis: Funds Move From Pepe to Shib<\/span><\/h2>\n<p>When PEPE ushered in the meme coin frenzy in February 2024, it was outperforming older, bigger meme coins <a href=\"https:\/\/www.techopedia.com\/definition\/33147\/dogecoin#:~:text=Techopedia%20Explains%20Dogecoin,the%20letter%20%E2%80%9CD%E2%80%9D%20superimposed.\">Dogecoin<\/a> (DOGE) and Shiba Inu by a large margin. For reference, PEPE posted a monthly gain of 197% in February 2024, Binance data showed, while DOGE and SHIB posted gains of 49% and 40%, respectively, during the same period.<\/p>\n<p>However, as the month of February 2024 closed, we saw crypto whales with large exposures to PEPE take profits and change their position to then-underperforming SHIB.<\/p>\n<p>According to blockchain data firm Lookonchain, a whale<a href=\"https:\/\/x.com\/lookonchain\/status\/1763393410126532931?s=20\" target=\"_blank\"> sold<\/a> their entire PEPE holding worth $6.07 million on February 29, 2024. The whale later bought SHIB worth $893K the same day using their PEPE winnings.<\/p>\n<p>The same whale used the rest of their PEPE profits to gain exposure to other tokens, including <a href=\"https:\/\/www.techopedia.com\/definition\/decentraland-mana\">Decentraland\u2019s<\/a> MANA, The Sandbox\u2019s SAND, and GALA.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A smart whale changed his position from <a href=\"https:\/\/twitter.com\/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$PEPE<\/a> to <a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$SHIB<\/a>, <a href=\"https:\/\/twitter.com\/search?q=%24MANA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$MANA<\/a>, <a href=\"https:\/\/twitter.com\/search?q=%24SAND&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$SAND<\/a>, and <a href=\"https:\/\/twitter.com\/search?q=%24GALA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$GALA<\/a>.<\/p>\n<p>The whale sold all 1.97T <a href=\"https:\/\/twitter.com\/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$PEPE<\/a>($6.07M) and made a profit of $3.49M.<\/p>\n<p>Then bought 75.9B <a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$SHIB<\/a>($893K), 1.6M <a href=\"https:\/\/twitter.com\/search?q=%24MANA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$MANA<\/a>($1.07M), 2.43M <a href=\"https:\/\/twitter.com\/search?q=%24SAND&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$SAND<\/a>($1.48M) and 36.88M <a href=\"https:\/\/twitter.com\/search?q=%24GALA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$GALA<\/a>($1.46M).<a href=\"https:\/\/t.co\/TsQgABvjIt\" target=\"_blank\">https:\/\/t.co\/TsQgABvjIt<\/a> <a href=\"https:\/\/t.co\/PbWGVtOVOZ\" target=\"_blank\">pic.twitter.com\/PbWGVtOVOZ<\/a><\/p>\n<p>&mdash; Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1763393410126532931?ref_src=twsrc%5Etfw\" target=\"_blank\">March 1, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The shift of capital into Shiba Inu, its reputation as a popular meme coin that surged in the 2021 bull run and its token listing across major crypto exchanges, including <a href=\"https:\/\/www.techopedia.com\/cryptocurrency\/coinbase-review\">Coinbase<\/a> and Robinhood has helped the SHIB token more than double its price in the first five days of March 2024.<\/p>\n<p>Now, the price surge has prompted investors to take profits from their SHIB trade. Among the SHIB profit takers was the <a href=\"https:\/\/www.techopedia.com\/top-10-shiba-inu-owners\">top Shiba Inu holder<\/a> and <a href=\"https:\/\/www.techopedia.com\/definition\/tron-trx\">Tron<\/a> (TRX) blockchain founder <a href=\"https:\/\/www.techopedia.com\/definition\/justin-sun#:~:text=Justin%20Sun%20is%20a%20Chinese%20tech%20and%20crypto%20mogul%20best,and%20numerous%20investments%20and%20partnerships.\">Justin Sun<\/a>, who sold SHIB tokens worth over $600K over the three days, <a href=\"https:\/\/x.com\/lookonchain\/status\/1764885457979228340?s=20\" target=\"_blank\">on-chain data showed<\/a>.<\/p>\n<p>Meanwhile, a crypto trader <a href=\"https:\/\/x.com\/lookonchain\/status\/1764885457979228340?s=20\" target=\"_blank\">withdrew<\/a> $1.93 million worth of SHIB tokens that had been staked for over two-and-a-half years. The trader deposited their entire SHIB holding on Coinbase on March 5, 2024, suggesting that he could book profits on it soon.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This trader spent only 1.51 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$ETH<\/a>($2,521) to buy 49.8B <a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$SHIB<\/a>($1.93M currently) in 2021!<\/p>\n<p>After 2.6 years of staking, he withdrew all 40.5B <a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$SHIB<\/a>($1.58M) and deposited it into <a href=\"https:\/\/twitter.com\/hashtag\/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">#Coinbase<\/a> 30 mins ago.<\/p>\n<p>If he sells, he will make ~$1.58M, a gain of 628x!<a href=\"https:\/\/t.co\/oE4sETZwa4\" target=\"_blank\">https:\/\/t.co\/oE4sETZwa4<\/a> <a href=\"https:\/\/t.co\/4O7cxM6PRB\" target=\"_blank\">pic.twitter.com\/4O7cxM6PRB<\/a><\/p>\n<p>&mdash; Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1764885457979228340?ref_src=twsrc%5Etfw\" target=\"_blank\">March 5, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span id=\"shiba_inu_outlook_are_you_late_to_the_shib_party\">Shiba Inu Outlook: Are You Late to the Shib Party?<\/span><\/h2>\n<p>There is a common saying in the world of investing: \u201cIf it\u2019s in the news, it&#8217;s too late.\u201d Could it be that you reading this article is a signal that you are too late to profit from the Shiba Inu rally?<\/p>\n<p>Well, the world of crypto investing is erratic and unpredictable. Take PEPE as an example. The frog-themed meme coin scaled a new all-time high on March 4, 2024, despite seeing increased selling pressure at the start of the month.<\/p>\n<p>Could we see SHIB surging higher in the coming days as well?<\/p>\n<p><strong>Tony Severino, a CMT candidate, technical analyst, and the author of the CoinChartist VIP newsletter<\/strong><span>, told Techopedia:<\/span><\/p>\n<blockquote><p>&#8220;SHIB is currently showing its second consecutive week of surging prices. The high volume breakout combined with a growing weekly average directional index suggests the trend is only strengthening further and will continue for near-term future.&#8221;<\/p><\/blockquote>\n<p>Whether the rally continues is yet to be seen, but it doesn\u2019t hurt to <a href=\"https:\/\/www.techopedia.com\/definition\/diversification\">diversify<\/a> and look to other meme coins that could outperform a token that has had a run-up in the market.<\/p>\n<p>Data compiled by crypto analytic firm Nansen suggested that \u201c<a href=\"https:\/\/www.nansen.ai\/guides\/wallet-labels-emojis-what-do-they-mean?utm_source=twitter&amp;utm_medium=bio&amp;utm_campaign=smartmoneyfaq_+\" target=\"_blank\">smart money<\/a>\u201d is moving away from SHIB, as of March 5, 2024.<\/p>\n<p>Nansen labels \u201csmart money\u201d as crypto wallet addresses that have \u201ca proven history of making savvy investment decisions and being one step ahead of the game.\u201d<\/p>\n<p>According to <a href=\"https:\/\/app.nansen.ai\/\" target=\"_blank\" rel=\"noopener\">Nansen<\/a>, SHIB has seen a net \u201csmart money\u201d outflow of $4.37 million over the last 24 hours, as of March 5, 2024. The meme coin has also lost about 2,458 unique holders over the last 24 hours.<\/p>\n<p>But where is the \u201csmart money\u201d flowing to, you ask? According to Nansen, the meme coin projects that have attracted \u201csmart money\u201d over the last 24 hours were:<\/p>\n<p class=\"p1\"><div class=\"su-table su-table-responsive su-table-alternate\">\n<table>\n<tbody>\n<tr>\n<td><strong>Meme coin<\/strong><\/td>\n<td><strong>Nansen Smart Money Inflow (Last 24-hours, as of March 5)<\/strong><\/td>\n<td><strong>30-day gain (as of March 5)<\/strong><\/td>\n<td><strong>Market cap<\/strong><strong><br \/>\n<\/strong><strong>(Source: CoinMarketCap)<\/strong><\/td>\n<td><strong>Crypto Rank by Market Cap<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>TRUMP<\/strong><\/td>\n<td>+$162.9K<\/td>\n<td>615%<\/td>\n<td>$367.6 million<\/td>\n<td>223<\/td>\n<\/tr>\n<tr>\n<td><strong>PORK<\/strong><\/td>\n<td>+$63.8K<\/td>\n<td>-15%<\/td>\n<td>$195.2 million<\/td>\n<td>313<\/td>\n<\/tr>\n<tr>\n<td><strong>WOJAK<\/strong><\/td>\n<td>+30.2K<\/td>\n<td>+136%<\/td>\n<td>$45.9 million<\/td>\n<td>2449<\/td>\n<\/tr>\n<tr>\n<td><strong>BONK<\/strong><\/td>\n<td>+26.8K<\/td>\n<td>+290%<\/td>\n<td>$2.6 billion<\/td>\n<td>49<\/td>\n<\/tr>\n<tr>\n<td><strong>MEME<\/strong><\/td>\n<td>+$25.9K<\/td>\n<td>+116%<\/td>\n<td>$508.3 million<\/td>\n<td>152<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"p1\"><\/div>\n<h2><span id=\"the_bottom_line\">The Bottom Line<\/span><\/h2>\n<p>The main difference between meme coin investing and Bitcoin investing is the lack of a \u201c<a href=\"https:\/\/www.techopedia.com\/definition\/hold-on-for-dear-life-hodl#:~:text=The%20typo%20subsequently%20became%20commonly,HODL%E2%80%9D%20through%20periods%20of%20volatility.\">HODL<\/a>\u201d culture in the former. Meme coin investors are active in the market for the sole purpose of making profits. Therefore, the churn in meme coin token holders is typically high compared to BTC and ETH holders.<\/p>\n<p>In contrast to the harmless appearance of meme coins, the meme coin market is home to rational and cut-throat crypto traders. Newcomers are advised to invest in meme coins with caution. Meme coins are <a href=\"https:\/\/www.techopedia.com\/cryptocurrency\/most-volatile-crypto\">highly volatile and risky cryptocurrencies<\/a>. Most meme coin projects enjoy a short period of fame and may become irrelevant after the market loses interest in them.<\/p>\n<div class=\"su-note\"  style=\"border-color:#e5e54c;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#FFFF66;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<p>Always do your own research before investing, and note that past performance is no guarantee of future results. This article should not be considered investment advice and is for information purposes only.<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Last week, it was PEPE sparking the meme coin market frenzy. This week, the second-largest meme coin Shiba Inu (SHIB) is leading the pack. Over the past seven days, as of March 5, 2024, dog-themed $SHIB gained nearly 280% to cement its place in the top 10 most valuable cryptocurrencies and one of the most [&hellip;]<\/p>\n","protected":false},"author":286557,"featured_media":196519,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"no","_lmt_disable":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[601],"tags":[],"category_partsoff":[],"class_list":["post-196506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shiba Inu Doubles in Value: Why Is $SHIB Pumping Today?<\/title>\n<meta name=\"description\" content=\"Shiba Inu enters the list of top 10 cryptocurrencies with a 280% gain in a week. 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