Home Coins Blockchain Bitcoin Ethereum How to Mining NFT Press releases Regulation Most Featured
Coins by Cryptorank

Shiba Inu Dwarfs Doge and Solana as Weekly Volume Surges

Author Avatar
By Brennan Forrest - - 5 Mins Read
Shiba Inu logo, dark red graphic illustration
Shiba Inu | Shutterstock

In a recent relay race kinda event portrayed by coins in the coin market, Shiba Inu outsmarted all other gems in the market with a massive trading volume amid explosive rallies.

Remember Shiba Inu, the Dogecoin doggy-double crypto? Well, move over, Doge, because SHIB is making some serious noise. 

Over the past week, trading for SHIB has gone nuts, leaving even established players like Dogecoin and Solana in the percentages.  This unexpected turn of events has everyone talking about what's driving SHIB and what it means for the future of these fun-based coins.

SHIB: From Underdog to Top Dog?

Launched in 2020, SHIB was a joke, riding the coattails of the Doge meme craze.  But the funny thing is, SHIB has grown a big, devoted following that truly believes in the project.  This strong community is a big reason for SHIB's recent boom.  

More and more people are using ShibaSwap, a trading platform built just for SHIB, which naturally drives up trading activity.

Plus, there's all this buzz about Shibarium, a special project in the works that could make SHIB transactions faster and cheaper. This has investors excited about SHIB's future potential.

Kaiko, a data analytics company, has brought this tendency to the notice of X's users. Kaiko said that meme-inspired digital currency coins have witnessed considerable growth in recent weeks, with weekly trade volume topping $80 billion, a valuation unprecedented in years.


Kaiko claimed that Shiba Inu had a trading volume of $31 billion. Furthermore, the survey stated that SHIB's one-week volume greatly outperformed Dogecoin (DOGE), the meme currency market leader. Specifically, whereas Shiba Inu witnessed $31 billion in trade activity, DOGE saw $8 billion less.

According to the graph accompanying Kaiko's post, Shiba Inu's performance has been unprecedented since 2023 when Dogecoin consistently topped the meme currency market in terms of volume.

Furthermore, Kaiko said that Shiba Inu's market volume over the previous week has overtaken that of more renowned utility-based altcoins such as Solana (SOL). 

Dogecoin? More Like Doze-Off

Meanwhile, Dogecoin, the OG meme coin, is having a bit of a snoozefest.  Sure, it still has its fans, but DOGE hasn't done anything new lately. 

Some folks are moving their money to projects that seem to be developing more. 

Another big player, Solana, has also hit a rough patch with technical glitches.  This has shaken investor confidence and caused trading to slow down.

So, is SHIB here for the long haul?

That's the million-dollar question.  The crypto world is known for its wild swings, and who knows what tomorrow will bring? 

For SHIB to stay on top, it must be more than just a meme.  It needs to prove it can be useful for something real. 

The success of ShibaSwap is a good start, but SHIB needs to find more ways to be valuable.  If Shibarium delivers on its promises, that could be a game-changer for SHIB.

Is Meme Coin Just a Laugh or the Future?

SHIB's recent win has the whole crypto world buzzing about meme coins.  Are they just a silly trend, or are they here to stay?  Some folks think they're just a joke, but others see them as a powerful example of how online communities can unite and make something big happen. 

SHIB's rise shows that meme coins can be more than just a laugh – they can become real forces in the crypto market.

The crypto world is wild, and SHIB's sudden lead might not last forever.  Dogecoin and Solana could easily bounce back, and who knows what new challengers might appear?  But one thing's for sure: SHIB's success is a reminder that anything is possible in the exciting world of crypto.