Meme-based cryptocurrencies saw a fair amount of trading activity across major crypto exchanges over the last day.
What Happened: Data shared by Jay Hao, CEO of crypto exchange OKX, shows that Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) saw the largest turnover, right behind Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), on spot trading over the last 24 hours.
#Memecoins like $SHIBA and $DOGE ranked only behind $ETH and $BTC with the third and fourth largest turnover on #OKX spot trading in the last 24 hours pic.twitter.com/R9JWHVnwPWSHIB saw a turnover of $128.5 million over the last day, while DOGE saw a turnover of $64.44 million over the same period.— jay_star.okx OKX CEO (@star_okx) August 15, 2022
OKX is one of the 20 largest crypto exchanges measured by trading volume. At the time of writing, it had an average daily trading volume of $1.9 billion, as per data from CoinMarketCap.
Another sign of the surge in retail trading activity for these meme coins is the relatively high level of liquidations seen in both SHIB and DOGE.
Over the last 24 hours, SHIB saw $3.19 million worth of liquidations with DOGE recording $3.26 million in liquidations, as per data from CoinGlass.
See Also: IS SHIBA INU (SHIB) A GOOD INVESTMENT?
SHIB gained close to 40% on Monday, rallying from $0.0000127 to a three-month high of $0.0000177. DOGE rallied 12% from $0.074 to an intraday high of $0.083 on the day.
At press time, SHIB was trading at $0.0000161, down 0.55% over the last 24 hours, as per data from Benzinga Pro. DOGE was trading at $0.08, down 0.66% over the same period.
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