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- The meme coin market cracked a multi-year file in weekly buying and selling quantity amid explosive rallies.
- Shiba Inu led the meme coin market with a weekly buying and selling quantity of $31 billion.
- Shiba Inu’s buying and selling quantity final week surpassed the DOGE figures and Solana.
New statistics have proven Shiba Inu (SHIB) led the meme coin panorama in buying and selling quantity because the market cracked a multi-year file in weekly buying and selling quantity amid explosive rallies.
In a submit on X, information analytic agency Kaiko just lately known as consideration to this development. Kaiko disclosed that meme-inspired crypto tokens have skilled vital development in latest weeks, with weekly commerce quantity reaching $80 billion, a valuation not seen in years.
Moreover, Kaiko revealed that Shiba Inu witnessed a commanding commerce quantity of $31 billion. Moreover, the report famous that SHIB’s one-week quantity considerably knocked out the meme coin market chief, Dogecoin (DOGE). Specifically, whereas Shiba Inu noticed $31 billion in buying and selling quantity, DOGE recorded $8 billion much less.
The graph accompanying Kaiko’s replace urged that Shiba Inu’s feat marks an unprecedented prevalence since 2023, as Dogecoin has all the time led the meme coin market with quantity. Furthermore, Kaiko disclosed that Shiba Inu’s market quantity for the previous week even surpassed the determine witnessed for extra outstanding utility-based altcoins like Solana (SOL).
Notably, Shiba Inu achieved this feat following a surprising 350% rally from $0.0000094 in below seven days. Following the rally, SHIB cracked the $0.000045 threshold on March 5, a worth level final seen through the peak of the 2021 bull run.
Nonetheless, Shiba Inu has corrected most of those beneficial properties, with its worth sinking to $0.00003388 at press time. Notably, Dogecoin witnessed a comparable worth surge, rallying greater than 130% from $0.08721 in late February to $0.2 on March 5. Nonetheless, at press time, DOGE trades at $0.1854.
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