Shiba Inu (SHIB) Rockets With Stunning 59% Volume Jump
The trading volume of popular meme-inspired cryptocurrency Shiba Inu
SHIBUSD
, as reported by CoinMarketCap, has seen a 24% increase over the past 24 hours, reaching $195 million. However, this figure only represents the spot market.
Meanwhile, according to CoinGlass, the volume of trading in SHIB derivatives - perpetual futures, to be exact - grew by nearly 58.9% over the past day, reaching $121.3 million. Thus, we can estimate that the total trading volume of the Shiba Inu token during this period was approximately $398.83 million.
The increase in trading volume indicates increased interest from market participants. However, the ratio of market capitalization to trading volume is currently 5.3%, which is within the normal range of activity.
SHIBUSD
, as reported by CoinMarketCap, has seen a 24% increase over the past 24 hours, reaching $195 million. However, this figure only represents the spot market.
Meanwhile, according to CoinGlass, the volume of trading in SHIB derivatives - perpetual futures, to be exact - grew by nearly 58.9% over the past day, reaching $121.3 million. Thus, we can estimate that the total trading volume of the Shiba Inu token during this period was approximately $398.83 million.
The increase in trading volume indicates increased interest from market participants. However, the ratio of market capitalization to trading volume is currently 5.3%, which is within the normal range of activity.
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