Why did large-cap altcoins Shiba Inu, Curve see green surge in past day
Over the weekend, altcoins like Shiba Inu and Curve saw their value rise by over 30% respectively.
With Bitcoin and Ethereum value surging to new heights recently, indications have begun to emerge that other altcoins are also now towing the path of their more famous counterparts in fashioning their own bull runs too.
In previous altcoin seasons, tokens around a specific sector like meme coins or DeFi protocols have their own patch of greens, however, the narrative is currently changing as available information shows that tokens across the entire market, are in fact, performing wonders presently.
Take, for instance, Shiba Inu and Curve, one is a meme coin whose value has surged tremendously within the last seven days while the other is a decentralized exchange for stablecoins that has also seen an improved price-performance recently.
SHIB within the last 24 hours
The popular meme coin which was created last year has had a historic year in terms of its price-performance and popularity. Within the last 30 days alone, its value has risen by over 300% making it one of the highest gainers within the period.
Just recently, we also reported that its trading volume was able to usurp that of Ethereum as it became the third most traded crypto asset across various exchanges.
Per data from CoinMarketCap, the asset is exchanging hands for $0.000058 and is currently the eleventh largest crypto asset by market cap. In the last 24 hours, the “Doge Killer” value has increased by almost 40%.
Curve on a green run too
Curve, renowned for being a decentralized exchange for stablecoins, has seen its native token CRV also perform favorably well in the market though as of press time, it has lost the gains it made over the weekend.
During the weekend, CRV saw its value rise by over 30% to $5.14. However, it is now currently trading for $4.44 after shedding 10% of the gains.
Regardless of this, the DEX token rise in price could be tied to a number of moves it has made in the recent past as it has struck a number of partnerships whilst also being integrated across various crypto ecosystems too.