Shiba Inu’s trading volume inches closer to $3B as traders flock into its market

Sahana Kiran
Shiba Inu
Source – Unsplash

Shiba Inu [SHIB] was seen leading the bullish market. After several days in the brutal bearish arena, the assets in the crypto market witnessed some respite during the weekend. Bitcoin [BTC] moved back above $40k and all the other coins followed suit. SHIB emerged as the clear winner of the latest run and many were seen jumping onto the meme coin wagon.

Despite garnering an array of partnerships over the last couple of weeks, Shiba Inu’s price remained inert. Just as the community began speculating that the Halycon Days of SHIB were over, the meme coin jumped back into action. Alongside its price, the 24-hour trading volume of the meme coin witnessed a massive surge.

Shiba Inu
Source – CoinMarketCap

$3 billion wasn’t too far off for the meme coin.

In the meantime, Shiba Inu’s rival, Dogecoin [DOGE], and other prominent coins like Cardano [ADA], Binance Coin [BNB], Solana [SOL], XRP were all recording trading volumes way lesser than that of SHIB’s.

At press time, the meme coin was soaring by a whopping 22% over the last 24-hours further pushing its price on to $0.00002775. Additionally, the market cap of the altcoin garnered a much-required boost. Shiba Inu now stands as the 14th largest cryptocurrency with a market cap of $15.27 billion.

Furthermore, the SHIB Army’s celebrations of the meme coin’s increase in price certainly paid off. The altcoin topped LunarCrush’s list of top altcoins and stood as the #1 coin among 3530 other coins.

Shiba Inu still the favorite token of ETH whales

Shiba Inu has time and again made news for flipping prominent coins and emerged as the most traded token on the ETH rich list. Earlier today, the meme coin overthrew CRV and took over as the most sought-after token by the 1000 biggest ETH whale wallets. WhaleStats took to Twitter to reveal this movement.

Shiba Inu was on a roll and it seems like the network was prepping to record major milestones.