After Bitcoin: Shiba Inu Becomes 3rd Most Traded Cryptocurrency
The cryptocurrency world is buzzing! 🚀 Shiba Inu has achieved a remarkable feat, becoming the third most traded cryptocurrency globally, trailing only Bitcoin and Ethereum. Data from CoinGecko confirms Shiba Inu's recent surge in trading volume and market cap has propelled it to this impressive position. While there were the regulars on the list like Bitcoin, Shiba Inu outperformed every single one.
Shiba Inu's Meteoric Rise: What's Fueling the Demand?
The influx of new funds into the Shiba Inu ecosystem is a key factor. Shiba Inu emerged as the most traded coin on the WazirX crypto exchange, followed by Bitcoin. The increased interest suggests a growing confidence in the meme coin's potential and long-term viability.
SHIB's Market Cap Soars
SHIB’s market cap is now close to reaching $19.12 billion, with a 24-hour trading volume indicating sustained investor interest. Previously, speculation suggested it might reach $14 billion, but its performance has exceeded expectations.
Bitcoin's Bullish Momentum Continues
While Shiba Inu gains traction, Bitcoin continues its upward trajectory. Bitcoin climbed above the $63,500 mark on Monday and is attracting heavy bullish sentiments in the indices. The overall positive market sentiment benefits the entire cryptocurrency space, including Shiba Inu.
After Bitcoin, What's Next for Shiba Inu?
Can Shiba Inu sustain its position as the third most traded cryptocurrency? The coming weeks will be crucial. Keep an eye on trading volumes, market cap fluctuations, and any major developments within the Shiba Inu ecosystem to understand its long-term potential.