Shiba Inu Climbs to Fourth Most Traded Cryptocurrency Worldwide
Meme-inspired cryptocurrency Shiba Inu (SHIB/USD) has recently made headlines by climbing the ranks to become the fourth most traded cryptocurrency worldwide. According to data by CoinGecko, this achievement marks a significant milestone for SHIB, showcasing its growing popularity and acceptance among investors and traders.
On the trading platform Binance (BTC/USD), 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, demonstrating its strong comeback in the market.
Tether (USDT/USD) continues to dominate the trading volume leaderboard with a remarkable $52.8 billion in trades, maintaining its top spot despite challenges. It is followed by Bitcoin and Ethereum (ETH/USD), 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 (BCH/USD), Dogecoin (DOGE/USD), and Solana (SOL/USD). 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.
Overall, Shiba Inu’s rise to become the fourth most traded cryptocurrency worldwide is a testament to its growing popularity and influence in the digital asset space. As the cryptocurrency market continues to evolve, SHIB’s performance will be one to watch as it navigates the ups and downs of the volatile market.
