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Record high trading volume for both SHIB and DOGE cryptocurrency

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cryptocurrency: Historically, the two most important meme coins have followed roughly the same curve.

According to data tracking and analysis platform Santiment, Shiba Inu (SHIB) price and trading volume rose immediately after Dogecoin (DOGE) once again.

DOGE’s price has seen a 91% increase in the past seven days, according to Santiment data.

Although SHIB has underperformed Dogecoin, the analytics platform says Shiba Inu has historically followed Dogecoin pumps.

According to CoinMarketCap data, SHIB tracked DOGE’s performance in April and May last year.

The same move almost happened in October 2021 too while Dogecoin saw a price hike of almost 40%, Shiba Inu price rose more than 11 times in less than a month.

The data shows that both memes have seen a massive pump in terms of daily trading volume.

At the start of the week on October 24, SHIB and DOGE traded volumes of nearly $120 million and $201 million, respectively.

With prices rising, the daily trading volume of the two largest memes is around $1.2 billion and $4.7 billion at the time of writing, according to Santiment data.

Dogecoin is currently trading at around $0.115, up 35% in the past 24 hours, according to CMC.

Similarly, Shiba Inu has seen a 13% rise in the past 24 hours and is trading at roughly $0.000012 at the time of writing, according to Coinmarketcap data.

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