Shiba Inu (SHIB), the cryptocurrency that started as a meme, has risen to become the fourth most traded cryptocurrency in the global market, according to CoinGecko. data.
Shiba Inu (SHIB), the cryptocurrency that started as a meme, has risen to become the fourth most traded cryptocurrency in the global market, according to CoinGecko. data.
This achievement marks an important milestone for SHIB as it continues to gain traction among investors and traders alike.
Notably, SHIB/USDT has become the second most traded cryptocurrency pair on Binance, only behind the BTC/USDT pair.
The hot meme coin has seen a massive comeback, surging a whopping 111% in the last seven days alone, according to data provided by CoinGecko.
Top currencies by trading volume
In the current trading volume leaderboard, Tether (USDT) maintains its position at the top, with a staggering $52.8 billion in trading. Despite its various controversies, it remains the preferred stablecoin for cryptocurrency traders with a massive market capitalization of approximately $100 billion.
Bitcoin (BTC) and Ethereum (ETH) follow, with $22.1 billion and $12.7 billion in trading volume, respectively.
Shiba Inu (SHIB) trading volume has reached $5.7 billion, a testament to its growing popularity and investor interest.
It has managed to outperform other notable cryptocurrencies such as USDC, Bitcoin Cash (BCH), Dogecoin (DOGE), and Solana (SOL).
Talk about the city
Social media buzz about Shiba Inu has reached unprecedented levels, according to data from LunarCrush. Over the past month, SHIB-related social interactions have skyrocketed by more than 1,520.6%, fueled by what has been dubbed “meme season.”
However, amid this wave of enthusiasm, it is essential to note that SHIB is still 76% below its its highest point.
The popular meme cryptocurrency reached its current all-time high in late October 2021.
