Leading dog-themed token Shiba Inu (SHIB) is lagging behind memecoins like Dogecoin (DOGE), Pepe (PEPE), and Dogwifhat (WIF) in terms of daily trading volume.
Shiba Inu has the lowest 24-hour volume among the top 4 memecoins by market cap. According to CoinMarketCap, Shiba Inu’s 24-hour volume has fallen 17.73% over the past 24 hours to $256,579,856 ($256.57 million).
In contrast, Pepe saw the highest 24-hour trading volume in the memecoin category at $979,524,916 ($979.52 million). Despite taking the top spot among memecoins with the highest trading volume in the past day, the data still shows that PEPE’s volume is down 12.76%.
Additionally, Dogecoin has seen the second-highest daily volume among the top 4 meme coins by market cap. DOGE boasts a daily volume of $853,530,903 ($853.53 million), down 6.32% from the previous day. Additionally, Dogwifhat closely follows Dogecoin in the rankings, with a daily volume of $451,499,845 ($451.49 million), representing a 24-hour drop of 9.4%.
Memecoin Total Daily Volume
As of 07:22 AM (UTC) today, the memecoin market boasts a 24-hour volume of $4.57 billion. With Shiba Inu’s volume at $256.57 million, SHIB accounts for 5.61% of the total memecoin volume recorded over the past 24 hours.
Similarly, PEPE volume exceeded the total daily volume of the memecoin by 21.43%, while DOGE and WIF volume were 18.67% and 9.87% respectively. Notably, rising volume indicates strong interest in the asset, and vice versa.
SHIB and other memecoin prices are rising
Meanwhile, the development comes at a time when SHIB price rebounded shortly after falling below the $0.000016 threshold. Notably, SHIB fell sharply to a 24-hour low of $0.00001587 in the late hours of yesterday.
It didn’t take long before its price rose above $0.000016. At the time of writing, SHIB price is up 3.41% on the daily charts to $0.00001681.
Similarly, the prices of the other 4 top memecoins in the memecoin category including DOGE, PEPE, and WIF also rose in the range of 1.48% to 4.63% on the daily chart.
While DOGE has gained 4.63% in the last 24 hours, PEPE and WIF prices have jumped 1.48% and 2.32% respectively.
