On Sunday, Shiba Inu (SHIB) trading volume surpassed that of Ethereum’s (ETH). Although the cryptocurrency has been around for a few years, it recently experienced an enormous surge in interest as well as price.
The Shiba Inu cryptocurrency, which was created by a Japanese company, is now trading volume surpassing that of Ethereum. The novelty comes as the top 20 cryptocurrencies are all below their all time highs.The “shiba inu coin” is a cryptocurrency that has surpassed the Ethereum (ETH) trading volume on Sunday. The project saw an increase of over 30% over the course of the day.
Shiba Inu, a famous meme currency, has reported some fascinating data during its march to a new ATH, leveraging the current green run of the larger crypto market.
More than Ethereum was exchanged by Shiba.
Shiba Inu’s daily trading volume surpassed that of its more renowned competitor, Ethereum, yesterday, according to CoinMarketCap statistics, making it the third most traded asset on two major crypto exchanges, Binance and Coinbase.
According to the statistics, the trading volume of meme coins was over $14.5 billion, while that of Ether was over $14.3 billion. Tether, on the other hand, had a trading volume of $60 billion, while Bitcoin, the most popular digital asset, had a trading volume of roughly $26 billion.
Shiba Inu, on the other hand, hit a new ATH yesterday when its value increased by 50% in only 24 hours. It rose to tenth place on the list of the biggest crypto assets by market size as a result of this, albeit its value has subsequently fallen to $0.000039 as of press time.
Crypto market expert Ben Caselin, speaking on the “Doge Killer’s” spectacular run, linked the asset’s “wild price activity” to speculation.
SHIB has increased by over 40,000,000% in the previous year, and its value has increased by over 435 percent in the last 30 days, making it one of the best-performing digital assets of the year.
Burned 900 million Shiba tokens
Meanwhile, according to statistics from Watcher.Guru, a popular crypto monitoring site, about 900 million Shiba tokens were burned yesterday.
877,949,459 #SHIB tokens were recently burnt from the circulating supply, according to the latest news. pic.twitter.com/HQOFsRM3m6
October 24, 2021 — Watcher.Guru (@WatcherGuru)
Despite the fact that its burning method is quite different from that of other digital assets, it has been able to contribute to the rise in the price of Shiba Inu by burning 1% of the meme coin circulation supply every day.
The meme currency made news earlier this year when it transferred half of its entire supply to Vitalik Buterin, the co-founder of Ethereum, who then donated almost a billion tokens to an Indian nonprofit working to battle the coronavirus.
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The “1 ethereum to usd” is a cryptocurrency that has been trading volume since its release. The shiba inu (SHIB) surpassed the Ethereum (ETH) on Sunday, making it the most popular cryptocurrency in the world.
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