Shiba Inu (SHIB) outperforms Dogecoin (DOGE) in this key parameter: details

TL; DR

SHIB's trading volume indicates that demand is growing despite the price reduction, narrowing the market capitalization gap with DOGE. The high returns of early meme coin investors are compared to the inherent risks of their volatile nature.

While the value of Shiba Inu (SHIB) may be down 17% in a week, some important indicators related to the ecosystem have risen by triple digits, indicating increased investor interest and increased adoption.

According to IntoTheBlock, SHIB has a consolidated daily volume. It is close The $600 million mark is a 200% increase over the figures seen on March 11. In contrast, Dogecoin (DOGE) saw a more modest increase of approximately 92%.

Earlier this month, Shiba Inu outperformed its rivals on other fronts, with the gap between the two leading meme coins dropping below $5 billion.

The impressive rally of the self-proclaimed Dogecoin killer has led some to suggest that a reversal may be on the horizon. Discussion GPT and confusion both listed their assumptions about such a situation. You can read the last answer over here.

In addition to closing in on first place in the meme coin realm, SHIB saw a 250% price increase last month benefiting investors who joined the ecosystem.

Recently as CryptoPotato reportedA savvy trader has made more than $1.5 million (at least on paper) after buying 50 billion tokens in 2021.

Another meme coin that experienced a huge price increase and made a millionaire is Solana-based Dogwifat (WIF). An individual bought over 2.5 million properties by the end of 2023 and spent only $310. At the time of writing these lines, the profit is equal to 4.8 million dollars.

Trading meme coins seems to be an attractive option amid the current market upswing, but it can lead to significant losses due to the perceived volatility of the group. Please watch our latest video to see the most common mistakes that successful traders should avoid when dealing with these types of properties: