1200″ height=”904″ alt=”Memecoin WEN crosses SHIB in volume: Should you be concerned?” decoding=”async” fetchpriority=”high” data-old-src=”data:image/svg+xml,%3Csvg%20xmlns=’http://www.w3.org/2000/svg’%20viewBox=’0%200%201200%20904’%3E%3C/svg%3E” src=”https://statics.ambcrypto.com/wp-content/uploads/2024/01/ambcrypto_Shiba_Inu_dog_surrounded_by_bears_d3a9c5d8-bccb-42bd-befb-02843d5b9a84-e1706606045118.png”> < img width="1200" height="904" alt="Memecoin WEN crosses SHIB in volume: Should you be worried?" decoding="async" fetchpriority="high" data-old-src="information: image/svg + xml,%3Csvg%20xmlns ='http://www.w3.org/2000/svg'%20viewBox='0%200%201200%20904'%3E%3C/svg%3E" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/ambcrypto_Shiba_Inu_dog_surrounded_by_bears_d3a9c5d8-bccb-42bd-befb-02843d5b9a84-e1706606045118.png" >
Reporter
- WEN outshined SHIB in regards to volume.
- SHIB’s rate stayed untouched while Sentiment and Social Volume seen development.
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, exceeded 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 (@wenwencointurns $SHIB in 24-hour trading volume. pic.twitter.com/pZJmRkfgpZ
— SolanaFloor|Powered by Step Finance (@SolanaFloor) January 29, 2024
WEN’s cost 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.
Examining the effect
Despite the fact that WEN had the ability to outshine SHIB in regards to volume, its short-term rise stopped working to have any significant influence on rates.
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, indicating that the frequency at which the token was being gone over on these networks corresponded.
The appeal of SHIB on social media networks can considerably assist the token see enhancements in regards to cost. Significantly, the Weighted Sentiment around the token grew over the last couple of days.
SHIB’s long-lasting possibilities
Regardless of for a little while losing on volume to brand-new entrants, SHIB’s market trajectory continued to follow its popular equivalents, Dogecoin [DOGE] and Bonk [BONK]
Reasonable or not, here’sSHIB’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 exact 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 brief appeal.
