Meme Coin Mania: Shiba Inu Rises To Fourth Spot In Global Crypto Trading Volume

Mar 3, 202415:34 UTC

Meme-inspired cryptocurrency Shiba Inu has recently climbed the ranks to become the fourth most traded cryptocurrency worldwide.

According to data by CoinGecko, this marks a significant achievement for SHIB, highlighting its growing popularity and acceptance among investors and traders.

On the trading platform Binance , the SHIB pair now stands as the second most-traded pair, only surpassed by the leading BTC/USDT pair.

Over the past week, Shiba Inu has seen an impressive surge, increasing by 111% in value, showcasing its strong comeback in the market.

Tether dominates the trading volume leaderboard with a remarkable $52.8 billion trades, maintaining its top spot despite its challenges.

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It is followed by Bitcoin and Ethereum , with trading volumes of $22.1 billion and $12.7 billion, respectively.

SHIB's trading volume has hit $5.7 billion, indicating its escalating popularity and investor interest, surpassing other notable cryptocurrencies like USDC, Bitcoin Cash , Dogecoin and Solana .

However, it's important to note that despite its recent success, SHIB is still 76% below its all-time high reached in late October 2021.

This surge in trading volume underscores Shiba Inu's significant impact on the cryptocurrency market as it continues to attract attention and investment from across the globe.

At the time of writing, SHIB was trading at $0.00002197, up 128% in the last seven days.

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