602 Interactions, 6 today
Shiba Inu token is half of the top pairing on Uniswap v3 in terms of both fees produced and total number of trades.
Despite DOGE’s spectacular crash following the widely awaited episode of Saturday Night Live hosted by SpaceX creator and hypothetical Dogecoin CEO, Elon Musk, several dog-tokens that recently rode DOGE’s coat-tails are now up hundreds of percent in just a few weeks after pushing billions in trading volume on Uniswap v3.
After the release of Uniswap v3, the WETH/SHIB pairing has placed first in terms of overall fee production ($2.4 million) and number of trades (nearly 57,000), beating out second-ranked WETH/USDT, which produced $750,000 over nearly 8,500 trades.
WETH/SHIB actually ranks third in terms of overall trade volume on Uniswap v3 with $243.2 billion, trailing WETH/$299 USDT’s billion and WETH/$256.7 USDC’s billion.
Other tokens with little value have risen in popularity as a result of the dog-token trading frenzy, with Akita Inu (AKITA) currently ranked eighth by fee generation, seventh by total number of transactions, and thirteenth by total volume on Uniswap v3. Dogelon Mars (ELON) also had a strong showing on Uniswap, placing sixth in total number of trades and 13th in fee generation.
According to Cointelegraph’s Joseph Young, Dogecoin was also leading the exchange volume rankings, with the DOGE/USDT perpetual deal on Binance Futures surpassing Bitcoin to become the platform’s top trading pairing.
Dogecoin overtook Bitcoin in daily volume on Binance Futures [USDT pair].
What is even going on. pic.twitter.com/DPCpWUNyeL
— Joseph Young (@iamjosephyoung) May 9, 2021
While DOGE has gained approximately 111 percent in the last 14 days, SHIB has gained 973 percent, AKITA has gained 347 percent, and ELON has gained 479 percent.