Shiba Inu’s dominance on the crypto market has been thrust into the spotlight as the self-styled Shytoshi Kusama, lead figure behind the Shiba Inu token, took to social media to declare SHIB’s unprecedented trading volume triumph over industry heavyweights XRP and Solana.
According to CoinMarketCap data, Shiba Inu surged ahead with a staggering $13.5 billion trading volume in the last 24 hours. This figure significantly eclipsed the combined trading volumes of XRP, BNB and Solana, which totaled approximately $12 billion during the same period.
TODAY #SHIB has more volume today than Bnb, Solana, and XRP COMBINED… by over a BILLION DOLLARS. pic.twitter.com/YJVxs6z90m
— Shytoshi Kusama™ (@ShytoshiKusama) March 5, 2024
The meteoric rise of SHIB’s trading volume, marking a remarkable 237% increase, has propelled the meme-inspired cryptocurrency to the forefront of the market. Currently occupying the fifth position among all cryptocurrencies in terms of trading volume, SHIB’s ascent is further underscored by its jaw-dropping 380% surge in price over the past week.
While SHIB basks in its momentous achievement, questions linger over its ability to sustain this newfound dominance. Unlike established tokens like BNB, Solana and XRP, which regularly command billions in trading volumes, SHIB’s current position is rather uncharted territory. The challenge now lies in whether SHIB can maintain its momentum and solidify its standing on the fiercely competitive crypto landscape.
As SHIB continues to captivate investors with its remarkable performance, all eyes remain firmly fixed on its future trajectory and whether it can uphold its position amid the evolving dynamics of the crypto market.
