- Centralized exchanges see daily inflow with 42.27M traded SHIB on Binance.
- Crypto.com exchange lists SHIB & DOGE pairs with Cronos memecoin.
- Wednesday’s crypto crash sets SHIB and DOGE back double digits.
Memecoin trading has been on the rise again, as several on-chain signals point to a massive influx of trades on centralized exchanges (CEXs). To illustrate, Shiba Inu is the ninth most popular token on Crypto.com, encompassing $257.84 million in trading volume. Meanwhile, Dogecoin (DOGE) enjoys a $773.23 million trading volume despite crashing by 9.3% in an hour on a gloomy Wednesday afternoon for the crypto markets.
Today, Crypto.com added SHIB and DOGE trading pairs with CorgiAI, running on Crypto.com’s native Cronos blockchain. CorgiAI is a dog-themed memecoin that fetched 187% monthly gains and trades at $0.00187129.
Close to entering the TOP by global market capitalization, CorgiAI token reached its all-time high just ten days ago at $0.00331027, already retracing 40.20% from the milestone. The latest inclusion of DOGE/CORGIAI and SHIB/CORGIAI trading pairs meets the fresh demand for memecoin trading. SHIB also generated a $50 million trading volume on Binance and Coinbase.
SHIB, DOGE Slide Down Despite Volume Surge
Dogecoin plummeted by 10.2% today shortly after the infamous financial analyst and Mad Money TV host Jim Cramer expressed his newly-found love for Bitcoin and the cryptocurrency markets. Inverse Cramer’s curse sent the markets down, with the largest digital assets, BTC and ETH, plunging by 7% in an hour.
Sponsored
At press time, DOGE is changing hands at $0.0832, according to CoinGecko. Its younger sibling, SHIB, took a harder hit from the merciless crypto bears with a 12.9% deficit in the last 24 hours. Currently trading at $0.00000942, SHIB lost the fundamental support line of $0.00001 after hovering above it for two weeks straight.
On the Flipside
- A thread on X, previously known as Twitter, is filled with dissatisfactory comments about Crypto.com’s customer service, including accusations of restraining a customer from withdrawing funds.
Why This Matters
Since last year, dog-themed memecoins have magnified their mass appeal, thus significantly contributing towards retail crypto adoption.
Sponsored
Read DailyCoin’s top crypto news:
Etherscan Acquires Solana’s Solscan.io in Expansion Strategy
Grayscale Bitcoin ETF Bid Questioned Over Amended Filing
