Shiba Inu Price Soars 35% on a Dull Day as Whale Returns With Massive SHIB Purchase

SHIB is by far the top performer in the past 24 hours. In another relatively boring and uneventful trading day during the weekend, in which most cryptocurrencies have remained sideways, the second-largest meme coin by market cap exploded in a rare reminder of what the niche used to do a few years ago. Some of the potential reasons behind this massive surge seem to be related to a returning whale and other on-chain factors. SHIB’s Big Pump The popular meme coin, once touted as the Dogecoin killer, actually began its ascent yesterday evening. It stood below $0.0000042 before it shot up to $0.0000052 and to $0.0000058 earlier today, posting a massive double-digit surge. The latter became its highest price tag in just over two months. Recall that the token was rejected at $0.0000067 in May, and the subsequent painful correction drove it south toward $0.000004, which translated into a multi-year low. As such, SHIB has now returned to the top 30 alts by market cap as its own has jumped to over $3.3 billion on CoinGecko. Moreover, it has solidified its spot as the second-largest meme coin by that metric, even though a few others have posted impressive gains as well. PEPE is up by 9%, M ha...