In a surprising turn of events, the popular Shiba Inu meme token, SHIB, has skyrocketed to claim the coveted second spot on Binance, the world’s largest exchange, according to data analyzed by Crypto Difference. The token’s meteoric rise comes amid a surge of user interest, with SHIB trading volume on Binance now making up a staggering 33% of all Shiba Inu token trading across various crypto platforms.
In a surprising turn of events, the popular Shiba Inu meme token, SHIB, has skyrocketed to claim the coveted second spot on Binance, the world’s largest exchange, according to data analyzed by Crypto Difference. The token’s meteoric rise comes amid a surge of user interest, with SHIB trading volume on Binance now making up a staggering 33% of all Shiba Inu token trading across various crypto platforms.
CoinMarketCap The data reveals that SHIB has solidified its position as the eighth largest exchange on Binance, with a substantial 3% share of the exchange’s mammoth trading volume of $32.13 billion against the USDT pair alone. This rise in SHIB’s prominence reflects its recent price trajectory, which has witnessed a staggering 133% rise over the past week, including a notable 16% rise at the start of this week.
As a result of its remarkable rise, the price of the Shiba Inu token has skyrocketed to levels not seen in over two years, propelling SHIB to 11th place among the largest cryptoassets in terms of capitalization. The data further underlines the changing landscape of user interest in Binance, with SHIB overtaking established cryptocurrencies to claim its place among the top searches.
Surprisingly, the top trending query on Binance remains the ecosystem’s native token BNB black and yellow, closely followed by SHIB in second place. Furthermore, the appearance of Pepe Coin (PEPE) in third place and Bitcoin (BTC) relegated to fourth place in user searches highlights the evolving dynamics within the crypto space.
While Bitcoin maintains its dominance in trading volume on Binance, accounting for more than 28% of the exchange’s transactions compared to USDT and FDUSD, the rise of meme tokens like SHIB indicates a broader shift in investor sentiment toward assets. alternative digital.
