NEW!Incredible offer for our exclusive subscribers! Read More
Altcoins

SlumDOGE millionaires: Dog tokens dominate Uniswap v3’s rankings

1 Mins read

Despite DOGE’s dramatic crash following the highly anticipated episode of Saturday Night Live hosted by SpaceX founder and hypothetical Dogecoin CEO, Elon Musk, many dog-tokens that recently rode DOGE’s coat-tails are still up several-hundred percent in just a couple of weeks after driving billions in trade volume on Uniswap v3.

cryptonews.net

In spite of its limited utility, the self-described “experiment in decentralized spontaneous community building,” Shiba Inu (SHIB), has dominated Uniswap v3’s rankings since the DEX’s May 5 launch.

Since Uniswap v3’s launch, the WETH/SHIB pairing ranks as the top pairing by both total fee generation with $2.4 million and number of trades with nearly 57,000, beating out second-ranked WETH/USDT with $750,000 generated over nearly 8,500 trades.

WETH/SHIB is currently third by total trade volume on Uniswap v3 with $243.2 billion, ranking behind WETH/USDT’s $299 billion and WETH/USDC’s $256.7 billion.

Other tokens of little utility have similarly surged in popularity amid the dog-token trading craze, with Akita Inu (AKITA) currently ranking eighth by fee generation, fifth by total number of trades, and 13th by total volume on Uniswap v3. Dogelon Mars (ELON) also produced an impressive performance on Uniswap, ranking sixth by total number of trades and 13th by fee generation.

Cointelegraph’s Joseph Young also noted that Dogecoin was also topping the trade volume charts, with the DOGE/USDT perpetual contract on Binance Futures overtaking Bitcoin to rank as the top trading pairing on the platform.

Dogecoin overtook Bitcoin in daily volume on Binance Futures [USDT pair].

$15 billion.

What is even going on. pic.twitter.com/DPCpWUNyeL

— Joseph Young (@iamjosephyoung) May 9, 2021

While DOGE is up roughly 111% over the past 14 days, SHIB has gained 973%, AKITA’s is up 347%, and ELON’s price has increased 479% over the same period.

Related posts
AltcoinsBTCBusinessCryptoETHMiningNewsOtherStock

Binqwix.com collaborates with Stake.com to offer Crypto services for its users

1 Mins read
Binqwix.com has collaborated with Stake.com to give crypto gamblers with a top-tier exchange where they can deposit, sell, and even convert Crypto…
AltcoinsBTCBusinessCryptoETHOther

Tradex-wallet.com staking platform with the best percentages or is it a temporary phenomenon?

1 Mins read
As it became known, tradex-wallet announced the announcement of a new staking program, rewards and large payouts for staking, the platform raffles…
AltcoinsBTCCryptoETHOther

Cryptwex & 15 More Crypto Exchanges Face Ire of South

2 Mins read
Sixteen international crypto exchanges. Including and the Mexican heavyweight MEXC. Have landed in hot water with Cryptwex.com financial regulators. For failing to comply with local guidelines….
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *