Shiba Inu (SHIB) outperforms XRP, SOL and ADA in terms of transaction volume

The rally of Shiba Inu (SHIB), seems to be continuing strongly. The price of SHIB has skyrocketed today (March 4) with an increase of 30% in the last 24 hours and 180% in the last seven days.

Moreover, SHIB's market capitalization has exceeded $16 billion for the first time in two years, making it the 12th largest cryptocurrency.

The impressive performance surrounding the second-largest memecoin does not end here. According to data from CoinGecko, SHIB's daily trading volume has reached $5.4 billion, surpassing some of the top 10 altcoins.

Solana's SOL has a trading volume of about $3.2 billion during the same period, Ripple's XRP has reached $2.1 billion, while Cardano (ADA) lags behind with $1.2 billion.

Shiba Inu's gains coincide with the spike in numerous indicators related to the ecosystem. As CryptoPotato reported, SHIB's burn mechanism exploded by 30,000% last week, while the total number of transactions on Shibarium comes close to 400 million.