Shiba Inu (SHIB) turned over 1.34 billion tokens in fresh trading volume across the past 24 hours, the largest surge in turnover the token has recorded since the market-wide flush, according to COINOTAG. The flush erased more than $1 billion in leveraged open interest across digital assets.

The volume figure captures token turnover across tracked trading venues within a single day, a token-denominated measure that counts the number of SHIB changing hands rather than the dollar value traded. Open interest refers to the total value of derivatives positions that remain open; liquidation cascades of the kind that accompanied the recent flush typically unfold when sharp price movements force leveraged traders out of their positions, unwinding large amounts of contracted exposure in a short window.

Shiba Inu is a dog-themed token launched in 2020 on the Ethereum blockchain that has grown into one of the most widely recognized memecoin projects. Its ecosystem includes the ShibaSwap decentralized exchange, the Shibarium layer-2 network, and companion tokens such as BONE and LEASH. A substantial share of the token's original quadrillion-unit supply has been transferred to burn addresses over time, permanently removing it from circulation.

Memecoin turnover is monitored by market observers because tokens in the sector are known for high volatility, with trading activity frequently intensifying around episodes of broad-market leverage unwinds. The 1.34 billion token tally represents SHIB's largest turnover surge since the flush, according to the report. Because the figure covers a single 24-hour window, subsequent daily readings will show whether turnover holds at this elevated pace or reverts to prior levels.

This content was first published on COINOTAG: https://en.coinotag.com/shiba-inu-shib-trading-volume-1-34-billion-24-hours