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Shiba Inu (SHIB) is consistently seen as one of the most popular meme tokens in the cryptocurrency space, and this digital currency has distinguished itself from its competitors. In the last 24 hours, a meme token called WEN on the Solana (SOL) network has surpassed its rivals in trading volume.
WEN 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 development could indicate a shift in investor interest and trading preferences within the meme token space. Consequently, WEN’s price recorded a significant increase. The constant fluctuation surrounding meme tokens resulted in the token experiencing a 9.35% drop in the last 24 hours. Although WEN performed better than SHIB in terms of volume, its sudden rise did not have a significant impact on prices.
SHIB’s social volume remains high, which could indicate that the frequency of discussions about the token on these networks is consistent. SHIB’s popularity on social networks could significantly help improve its price. In particular, the weighted sentiment around the token has increased in the last few days. Despite temporarily losing volume from new investors, SHIB’s market movements continue to follow its popular competitors Dogecoin (DOGE) and Bonk (BONK).
Current Situation with WEN
An analysis of data from the cryptocurrency analytics firm Santiment revealed that the market value movements of all these meme tokens were largely the same when this article was written. This could indicate that SHIB has established deep roots in the cryptocurrency sector and is less likely to be affected by the instant popularity of new meme tokens.
In conclusion, while Shiba Inu continues to be one of the popular meme tokens in the cryptocurrency space, the WEN meme token on the Solana network has shown an increase in trading volume in the last 24 hours. Although WEN’s trading volume has surpassed SHIB, SHIB continues to have high social popularity and market value. This situation reflects the competition and market dynamics of meme tokens.
