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Shiba Inu (SHIB) sees a dramatic increase in trading volume, surpassing Ripple (XRP) and Cardano (ADA) as it rallies, with significant growth in market capitalization and transaction metrics.
Shiba Inu Dominates Trading Volume, Surging Past XRP and ADA with Remarkable Metrics
Shiba Inu trading volume has increased over the last 24 hours. According to CoinGecko (via CryptoPotato), the figure has risen above $2.3 billion, outperforming Ripple's XRP ($2.1 billion) and Cardano's ADA ($630 million).
Other SHIB-related metrics that exploded on March 26 are daily transactions on Shibarium (which have surpassed 400,000) and aggregated daily volume (which has increased by 220%).
Shiba Inu is one of many meme coins that are doing well financially. Some popular Solana-based tokens have also taken off, including dogwifhat (WIF) and Bonk Inu (BONK). Due to recent price spikes, these assets have allowed traders to make significant profits.
A SHIB trader, for example, turned $2,500 into more than $1.5 million, whereas a WIF investor made more than $5 million from a $310 initial investment. It is still being determined whether those individuals cashed out their holdings.
A source posted a video to those willing to find the next cryptocurrency that offers the chance of 100x profits.
Shiba Inu Rallies with Shibarium's Success, Leading Meme Coin Market Surge
The cryptocurrency market has resumed its upward trend in recent hours, with Bitcoin (BTC) surpassing $71,000 and Ethereum (ETH) exceeding $3,600.
The situation in the meme coin niche is even more bullish, with Shiba Inu (SHIB) among the top performers. Its price increased by 7% in 24 hours and 20% weekly.
Some key metrics related to the self-proclaimed Dogecoin killer have also risen. Data shows that daily transactions on the layer-2 scaling solution Shibarium have surpassed 400,000, a 500% increase over the figure seen the day before.
Shibarium, launched in August last year, aims to elevate Shiba Inu above its competitors by improving speed and lowering transaction fees. It has reached numerous milestones recently, including exceeding the 400 million mark in total transactions.
Aside from the resurgence of Shibarium, Shiba Inu experienced another triple-digit increase. According to U.Today, SHIB aggregated daily volume (with each transaction worth more than $100,000) has increased by 220%.
Meanwhile, the cryptocurrency market is still pumping as of the time of writing, and it will be interesting to see if Shiba Inu can achieve even more significant gains in the coming days.
Analysts, including X users SHIB KNIGHT and JAVON MARKS, recently predicted that the meme coin's price could skyrocket soon if investors continue accumulating at the same rate.
Photo: Microsoft Bing
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