Leading the meme coin market with a weekly trading volume of $31 billion, Shiba Inu has surpassed both Solana and DogeCoin.
New statistics show that Shiba Inu (SHIB) leads the meme market by breaking a record for weekly trading volume in years amidst explosive price surges.
In a post on X, data analytics firm Kaiko highlighted notable figures. Kaiko revealed that meme-inspired tokens have seen significant growth in recent weeks, with a weekly trading volume reaching $80 billion, an unprecedented valuation for years.
Furthermore, Kaiko revealed that Shiba Inu has witnessed an outstanding trading volume of $31 billion. Additionally, the report notes that SHIB’s weekly trading volume has surpassed the leading meme market coin, Dogecoin (DOGE). Specifically, while Shiba Inu reached a trading volume of $31 billion, DOGE recorded less than $8 billion ($23 billion).
A chart accompanying Kaiko’s update showcases Shiba Inu’s achievement as unprecedented since 2023, as Dogecoin has always led the meme coin market in terms of volume.
Moreover, Kaiko revealed that Shiba Inu’s market volume in the past week even surpassed prominent altcoins like Solana (SOL).
Notably, Shiba Inu achieved this milestone following a staggering 350% increase from $0.0000094 in less than a week. After the price hike, SHIB broke the $0.000045 threshold on March 5, a price last seen during the peak period in 2021.
In addition, Dogecoin saw a similar price increase, surging over 130% from $0.08721 at the end of February to $0.2 on March 5.
However, Shiba Inu has since declined after this significant increase, causing its price to drop to $0.00003199 at the time of writing.
