Shiba Inu, DOGE, And Other Memecoins Witness Over $600M Trading Volume In 24 Hours

Shiba Inu and Dogecoin have seen increased activity since investors are turning to extremely high risks and concerns.

Shiba Inu worth $332 million and somewhat less DOGE worth about $273 million were traded on the cryptocurrency market, according to Coin98 data. Eight additional coins are designated as “meme coins,” although their combined volume is still just approximately $20 million.

Shiba Inu ranks the highest traded among the meme coins

Shiba Inu overthrows DOGE to rank the highest traded in the last 24 hours. It is followed by ELON, BABYDOGE, FLOKI, AKITA, YDOSHI, KISHU, VINU and GOM.

DOGE has performed admirably in the first month of the summer, increasing in value by around 50% as the cryptocurrency market briefly saw a return to purchasing power. DOGE is still one of the most lucrative assets in June.

Unfortunately, the comparatively robust rise of 50% is insufficient to reverse Dogecoin’s severe downturn, which has persisted since November 2021.

Yesterday, Shiba Inu holders surpassed a new milestone. Shiba Inu’s enthusiasm has recently increased, and the number of owners appears to have reached a new high.

According to data from WhaleStats, the number of SHIB holders has surpassed a significant milestone. They found that the number of SHIB holders had surpassed the 1,200,000 mark, standing at 1,200,006.

Shiba Inu has been thriving thanks to its notoriety as current whale interest appears to have increased. The meme coin has a lot of advancements planned for this year, which may be linked to the increase in interest and the new milestone. Leading SHIB developer Shytoshi Kusama has stated the list of developments. One of the reasons for the increase in interest may be due to the developments he provided a sneak peek of.

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