Shiba Inu (CRYPTO: SHIB) has gained about 2% after becoming the first meme coin listed on Folks Finance, a cross-chain DeFi lending platform.
| Cryptocurrency | Ticker | Price | Market Cap | 7-Day Trend |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001248 | $7.4 billion | -0.4% |
| Dogecoin | (CRYPTO: DOGE) | $0.2176 | $32.8 billion | -1.5% |
| Pepe | (CRYPTO: PEPE) | $0.059829 | $4.1 billion | -2.7% |
Trader Notes: Crypto trader Nebraskangooner flagged that SHIB remains below its daily 99 SMMA, suggesting downside pressure.
He said a reclaim of that resistance is required before any extended rally can unfold.
Meanwhile, Javon Marks pointed to SHIB confirming a bullish pattern with a regular bull divergence on the MACD histogram.
His analysis projects a potential 163% surge into the $0.00003s, with the chance of a much larger breakout -- more than 570% higher toward $0.000081.
Statistics: According to Shibburn, SHIB's burn rate spiked 542.4% in 24 hours, with 455,390 tokens permanently removed from circulation.
On-chain data from Santiment showed that SHIB's top ten wallets hold 62.3% of supply, the highest concentration among Ethereum-based assets.
Community News: Folks Finance announced Shiba Inu being listed as its first meme coin integration for cross-chain lending markets.
Powered by Chainlink CCIP, the feature enables SHIB deposits and borrowing across chains within a unified liquidity pool. Folks Finance also launched incentive rewards for depositors to boost participation.
Read Next:
- Dogecoin, Shiba Inu Go Sideways (Again): Will They Ever See Another Bull Run?
Image: Shutterstock
