In a whirlwind week for the cryptocurrency market, the rise of meme-inspired tokens has taken center stage, with Shiba Inu (SHIB) leading the way. Amidst crazy trading activity, SHIB emerged as the new contender, surpassing Cardano (ADA) in trading volume.
In a whirlwind week for the cryptocurrency market, the rise of meme-inspired tokens has taken center stage, with Shiba Inu (SHIB) leading the way. Amidst crazy trading activity, SHIB emerged as the new contender, surpassing Cardano (ADA) in trading volume.
The rise in popularity of meme coins such as Dogecoin (DOGE), SHIB, and Pepe Coin (PEPE) has sparked a notable rally, propelling these digital assets to unprecedented heights. SHIB, in particular, has seen remarkable growth, with trading volumes soaring to dizzying heights.
In a surprising turn of events, SHIB has surpassed ADA, a stalwart in the cryptosphere, in terms of trading volume, despite its lower ranking on the list of the largest cryptocurrencies.
In the last 24 hours, SHIB’s trading volume skyrocketed to a staggering $923 million, eclipsing ADA’s volume of $680 million. This important milestone underlines the growing influence of meme coins on the digital asset landscape.
In particular, SHIB has seen a notable rebound in both trading activity and price appreciation. With a staggering 139% increase in trading volume and 11% increase in price, SHIB has reached its highest valuation since December 2023, attracting both attention and interest from investors.
Meme coin mania
The broader meme cryptocurrency sector has also witnessed a notable bullish trend, with its total market capitalization increasing by 8% to reach $26.7 billion. Trading volumes for these digital assets have increased by 90%, underscoring investors’ fervent appetite for meme-inspired tokens.
As meme coins continue to capture investors’ imaginations, SHIB’s rise to surpass ADA in trading volumes marks a major milestone in the current meme coin mania, signaling what may be a paradigm shift in the crypto landscape.
