2 November 2024
SHIB And MATIC Becomes Top Crypto Gainers Of The Day
Polygon (MATIC) and Shiba Inu were the highest Crypto gainers of the day, where both the coins recorded more than 20% gains in 24 hours for two different reasons. Both coins have outperformed most of the top Cryptocurrencies.
Yesterday, the most popular ETH layer solution, Matic, reached an all-time high at $2.70. Uniswap’s migration to the Polygon network has led to a bullish momentum for altcoin. Earlier today, migration was completed pushing the MATIC and UNI prices to new highs. MATIC has witnessed a minor retrace from $2.70 to $2.60.
While UNI, the native token of decentralized exchange Uniswap, also rose 12% and currently trading at $16.58.
The memecoin Shiba Inu (SHIB) also witnessed a trend reversal or sort after losing $0.00003 key support earlier last week. SHIB has recorded a weekly high of $0.000038 before retracing below $0.000036. Currently, the memecoin is trading at $0.0003544 with a 5% spike in the past 24-hours.
The recent rally of Shiba Inu is attributed to many reasons, especially after a couple of new listings. The longest-running Crypto exchange in Australia, Coinjar, recently listed Shiba Inu and also allowed payments in memecoin.
Additionally, the on-chain metrics have turned green for Shiba Inu again as whales have started buying more SHIB. A few days back, one Ethereum whale purchased 4 Trillion SHIB tokens. Also, the development activity has spiked on the network as SHIB ventures into play2earn (P2E) NFT gaming.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice
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