CandleFocus Shiba Inu (SHIB) Skyrockets 104% in Volume
2024-09-16
Author: Content Editor
The volume of derivatives trading on the Shiba Inu (SHIB) cryptocurrency has more than doubled in the past 24 hours, according to CoinGlass. The 1000SHIB perpetual futures contract saw a 104% increase in turnover, reaching $87.61 million. Other derivative options on SHIB also experienced significant growth. The total trading volume of SHIB derivatives reached $145.89 million. On the spot market, SHIB trading volume reached $145.5 million with a growth rate of 57.49%. Overall, the trading volume of SHIB reached $291.4 million, indicating a turnover to market cap ratio of 3.75%, which is considered normal. The price of SHIB has shown lower volatility in recent weeks, with an amplitude not exceeding 2.3% during this period. This explains the previously suppressed trading volume.
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