The post SHIB Soars as Bitcoin Dominance Peaks: Altcoin Season on the Horizon? appeared first on Coinpedia Fintech News

The cryptocurrency market has been relatively tranquil since Monday, with Bitcoin hovering around the $29.1k mark after briefly touching $30k. While the leading cryptocurrency maintains its stability, some altcoins have been showing interesting outliers, most notably Shiba Inu (SHIB), an Ethereum-based meme coin. SHIB has been on a surge in the past few days, fueled by rumors of an upcoming Shibarium mainnet launch and other key developments, including digital identification.

According to crypto price oracles, SHIB has been trading around $0.00000861, experiencing an approximate 5 percent increase in the last 24 hours.

A Shift towards Altcoins

Michaël van de Poppe, a renowned crypto influencer and analyst, has put forward an intriguing suggestion that Bitcoin dominance may have reached its bear market peak. This development could signal a shift in the market sentiment, potentially leading to increased interest in altcoins.