Overview

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According to Coin98 insights, traders exchanged $332 million worth of Shiba Inu on the cryptocurrency market and slightly less DOGE worth around $273 million. There are Shiba Inu has fallen by 7% in the past hour, dropping to $0. as the cryptocurrency market corrects in the wake of some very strong post-election gains. This Earlier today, it was revealed that Shiba Inu and Dogecoin managed to rake over $600 million in trading volume. As per data curated by Coin98 Insights, $332 million worth SHIB/USD on Coinbase reached $13.12 million in trading volume over a 24-hour period, marking an impressive spike amid growing interest in the Shiba Inu ecosystem. Shiba Inu (SHIB), the dog-themed cryptocurrency, has witnessed a remarkable surge in trading activity, escalating by a whopping 110% over the past 24 hours. Discover why Dogecoin and Shiba Inu investors are pivoting to Lightchain AI as DOGE and SHIB volumes crash, marking a shift towards utility-focused cryptocurrencies Data from Kaiko reveals that Shiba Inu’s trading volume has soared to an astonishing $31 billion per week, overshadowing Dogecoin’s $23 billion during the same

Over 600 Million Shiba Inu & Dogecoin Moved: Trading Volume Pro or Con?

Earlier today, it was revealed that Shiba Inu and Dogecoin managed to rake over $600 million in trading volume. But what does this mean for the future of these meme coins? Is this surge in activity a positive sign, or a harbinger of volatility?

Shiba Inu Trading Volume Surges

Shiba Inu (SHIB), the dog-themed cryptocurrency, has witnessed a remarkable surge in trading activity. Data from Kaiko reveals that Shiba Inu’s trading volume has soared to an astonishing $31 billion per week, overshadowing Dogecoin’s $23 billion during the same period.

According to Coin98 insights, traders exchanged $332 million worth of Shiba Inu on the cryptocurrency market and slightly less DOGE worth around $273 million. This substantial volume suggests strong interest, but also carries potential risks.

As per data curated by Coin98 Insights, $332 million worth of SHIB/USD on Coinbase reached $13.12 million in trading volume over a 24-hour period, marking an impressive spike amid growing interest in the Shiba Inu ecosystem. Shiba Inu’s trading volume has escalated by a whopping 110% over the past 24 hours.

Dogecoin Under Pressure?

While both cryptocurrencies experienced significant volume, Dogecoin's performance appears less dramatic compared to Shiba Inu's surge. Some analysts suggest that investors are exploring alternative options within the crypto space.

The Debate: Pro vs. Con

Pro: Increased Liquidity and Awareness. High trading volume can lead to increased liquidity, making it easier to buy and sell SHIB and DOGE. The increased attention can also attract new investors to the cryptocurrency space.

Con: Volatility and Potential Price Swings. Significant trading volume can also lead to increased volatility. Large buy or sell orders can cause rapid price swings, potentially leading to losses for inexperienced traders. Shiba Inu has fallen by 7% in the past hour, dropping to $0. as the cryptocurrency market corrects in the wake of some very strong post-election gains.

Shifting Sands: Investors Exploring Alternatives

Discover why Dogecoin and Shiba Inu investors are pivoting to Lightchain AI as DOGE and SHIB volumes crash, marking a shift towards utility-focused cryptocurrencies. This trend suggests that some investors are seeking projects with more tangible applications and long-term sustainability.

Conclusion: Proceed with Caution

The over $600 million moved in Shiba Inu and Dogecoin trading volume is a noteworthy event. While increased volume can be positive, it also introduces risks. Investors should conduct thorough research and understand the potential for volatility before investing in these meme coins or any cryptocurrency.

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