Popular meme coin Shiba Inu (SHIB) surpassed Ether in trading volume in a paddling rally. The “Dogecoin killer” outshines Bitcoin’s “thunderstorm” with a dazzling rally. Cryptocoin. com, the daily trading volume of the Shiba Inu cryptocurrency has now surpassed $14.5 billion.
SHIB’s show as meme coin
In particular, it surpassed Ether, which recorded a trading volume of $14.3 billion in the last 24 hours. At the time of writing, the Shiba Inu was the third most traded cryptocurrency overall. SHIB dominates spot cryptocurrency trading volumes on the Binance exchange. It is also by far the most traded cryptocurrency on Coinbase. The Shiba Inu has set a new all-time record in the saadollars earlier today for the first time since the beginning of May, catching the attention of the cryptocurrency community. After hitting an ATH of $0.00004432, it has since lost some of the gains.
Meanwhile, Bitcoin has recently dropped below the $60,000 level. The leading cryptocurrency has become vulnerable to a steeper correction after bulls failed to hold onto recent gains. The flagship cryptocurrency is on track to record its first weekly drop since September. Market analyst Ben Caselin said that the main reason behind the crazy price action of the Shiba Inu could be speculation. Recently, the community has been inundated with rumors that Robinhood is listing the Shiba Inu, which is likely to be another catalyst for the ongoing rally. At the time of writing, SHIB is up an astonishing 435% this September.