740″ height=”557″ src=”https://ambcrypto.b-cdn.net/wp-content/uploads/2024/01/ambcrypto_Shiba_Inu_dog_surrounded_by_bears_d3a9c5d8-bccb-42bd-befb-02843d5b9a84-1024×771.png.webp?quality=50″ alt=”Memecoin WEN crosses SHIB in volume: Should you be concerned?” decoding=”async” fetchpriority=”high”/>
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Reporter
Shiba Inu [SHIB] has actually constantly been among the most popular meme coins in the crypto area. In the previous 24 hours, WEN, a meme coin on the Solana [SOL] network, went beyond the previous in trading volume.
According to SolanaFloor, WEN’s trading volume rose to $115.08 million, while SHIB reported a trading volume of $88.60 million.
This advancement might show a modification in financier interest and trading choices within the meme coin area.
SIMPLY IN: $WEN (@wenwencoin) turns $SHIB in 24-hour trading volume. pic.twitter.com/pZJmRkfgpZ
— SolanaFloor|Powered by Step Finance (@SolanaFloor) January 29, 2024
WEN’s rate likewise increased as an outcome. Regardless, the ever-lasting volatility surrounding meme coins guaranteed that the token quickly experienced a decrease of 9.35% over the previous 24 hours.
Evaluating the effect
Despite the fact that WEN had the ability to exceed SHIB in regards to volume, its brief rise stopped working to have any significant effect on costs.
At press time, the meme coin was trading at $0.000009, and its rate had actually risen by 3.61% in the last 24 hours.
SHIB’s social volume likewise stayed high, suggesting that the frequency at which the token was being talked about on these networks corresponded.
Source: Santiment
The appeal of SHIB on socials media can considerably assist the token see enhancements in regards to cost. Especially, the Weighted Sentiment around the token grew over the last couple of days.
SHIB’s long-lasting possibilities
Regardless of for a moment losing on volume to brand-new entrants, SHIB’s market trajectory continued to follow its popular equivalents, Dogecoin [DOGE] and Bonk [BONK]
Practical or not, here’s SHIB’s market cap in BTC’s terms
AMBCrypto’s Analysis of Santiment’s information exposed that the motion of the marketplace cap of all these meme coins was mainly the very same at the time of composing.
This showed that SHIB has actually planted deep roots in the crypto sector, and it is not likely that it will be impacted by brand-new meme coins that acquire short-lived appeal.
Source: Santiment
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