Shiba Inu Blockchain Shibarium's Meme Coin DAMN Leads Board With 22% Single Day Gains, Active Accounts Spike 1059%
Portfolio Pulse from Khyathi Dalal
Shibarium's meme coin DAMN, also known as 'Sol Killer', reported a 22% increase in trading, with liquidity at $1.2 million and a trading volume of 471,000. This comes as Shiba Inu (SHIB) sees a 5% drop. DAMN's launch on March 18 has significantly increased active accounts on Shibarium, with 44,000 holders now. The coin, created by Woofswap, can be purchased with BONE token or through Gate.io. The surge in DAMN's popularity and trading volume is expected to boost investor confidence in Shibarium and SHIB despite the latter's recent price drop.
March 19, 2024 | 11:15 pm
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NEGATIVE IMPACT
Shiba Inu (SHIB) experienced a 5% drop amidst the overall decline in the meme coin market, despite the success of DAMN on Shibarium.
The introduction of DAMN on Shibarium has brought significant attention and trading volume to the platform, which could potentially boost investor confidence in SHIB. However, the immediate impact on SHIB has been negative, with a 5% drop in its price. This could be due to market dynamics or investors shifting focus to DAMN temporarily. Over the short term, this might lead to increased volatility in SHIB's price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80