The trading volume of the Shiba Inu (SHIB) token reached an impressive $13.4 billion, surpassing Solana, XRP, Dogecoin, and BNB. Thus, the cryptocurrency found itself in the top ranking of crpto assets.
Shiba Inu CEO Shitoshi Kusama claimed SHIB's dominance over XRP and Solana, announcing SHIB's unprecedented triumph in terms of trading volume, a game changer in the crypto landscape.
SHIB made it into the top 10 largest cryptocurrencies by capitalization, posting a record 283% growth over the past week. The token saw a staggering rise from $0.00002349 to a high of $0.00004566 overnight. This growth represents 92%.
At the time of writing, SHIB is trading at $0.000003843.
Shitoshi Kusama published a jubilant post on X (Twitter), sharing the triumph of SHIB, which has overtaken the cryptocurrencies XRP and Solana in terms of trading volume.
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According to CoinMarketCap, Shiba Inu surged ahead with a staggering $13.5 billion in trading volume over the past 24 hours, surpassing the trading volumes of XRP, BNB, and Solana, which did not exceed $12 billion. SHIB's market capitalization now exceeds $23 billion.
SHIB's 280% rise over the course of the week has propelled the meme cryptocurrency to the top of the market. SHIB is now the fifth-largest cryptocurrency by trading volume.
Shiba Inu's success has kept the asset in the spotlight of the cryptocommunity, but many traders are questioning the reasons behind this rally and how long it might last.
While most of the leading cryptocurrencies, especially BNB, Solana, and XRP, have consistently demonstrated high trading volumes and constant investor attention, SHIB is on this list for the first time, and it is unclear how long it will last.
Will SHIB be able to maintain its position and keep the momentum in the crypto market among its competitors? Shitoshi Kusama believes that it doesn't matter if Bitcoin reaches $70,000; what matters is that SHIB attracts investors with its outstanding performance. He praised each member of the SHIB community for doing what many thought was impossible.
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