Memecoin dethrones Bitcoin – interest in crypto is increasing

Bitcoin (BTC) was in the spotlight at the start of the week thanks to its massive price rally. After reaching $64,000, the foot was taken off the accelerator and altcoins were given room to shine. Memecoins don’t miss this opportunity and dominate the list of the most traded coins on the Dutch crypto exchange Bitvavo. Bitcoin is even outperformed by Shiba Inu (SHIB).

Bitcoin is being overtaken by Shiba Inu

Normally, Bitcoin is logically traded most often on Bitvavo, the largest exchange in our country. Bitcoin was also by far the most popular cryptocurrency for Bitvavo users last week. Yesterday, the exchange announced on social media platform X that 20 percent of its total trading volume last week went to the world’s largest cryptocurrency.

However, Bitcoin was overtaken by Shiba Inu, the second largest memecoin in the industry, over the past day. SHIB’s 24-hour trading volume is currently almost 78 million euros. This far exceeds the gigantic Bitcoin trading volume of more than 55 million euros.

Shiba Inu is currently enjoying great popularity among Bitvavo users due to the massive price increase. SHIB’s share price is 63 percent higher at the time of writing than it was 24 hours ago, even after a significant correction. At its peak this morning, the price increase was the equivalent of 73 percent.

Shiba Inu’s upward trend, on the other hand, was already initiated at the same time as Bitcoin’s. Since Monday, when the price of Bitcoin skyrocketed, the value of Shiba Inu has more than doubled. To be more precise, the price increased by around 120 percent in just 6 days.

Read Also:  “Bitcoin is rising for reasons few people are talking about”

Meme crypto steals the show

Even more memecoins can be found among the five most traded cryptos of the past day. In third place, behind Bitcoin, is Pepe (PEPE) with a total volume of more than 46 million euros. In addition, floki (FLOKI) is one place lower, which is breathing down PEPE’s neck with a trading volume of 45.8 million euros.

PEPE and FLOKI rose very quickly today, as did SHIB. PEPE has seen an increase of over 38 percent and FLOKI has almost doubled in value today alone.

Memecoins have attracted a lot of attention in the crypto world in recent days. The five biggest rises of the past week consist entirely of memecoins, with increases between 100 and 300 percent.

Dogwifhat (WIF) is the fastest increase in the past week with a rise of 328.09 percent. PEPE and FLOKI are in 2nd and 3rd place with increases of 266.57% and 226.69% respectively. BONK and SHIB are in 4th and 5th place with increases of over 100 percent.

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