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SlumDOGE millionaires: Dog tokens dominate Uniswap v3’s rankings

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SlumDOGE millionaires: Dog tokens dominate Uniswap v3’s rankings

Shiba Inu token is just half of the highest pairing by both charges generated and total number of trades on Uniswap v3.

Regardless of DOGE's dramatic crash following the highly anticipated episode of Saturday Night Live hosted by SpaceX founder and hypothetical Dogecoin CEO, Elon Musk, several 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 quantity on Uniswap v3.

In spite of its limited usefulness, the self-described"experiment in decentralized spontaneous community building," Shiba Inu (SHIB), has dominated Uniswap v3's rankings because the DEX's May 5 launch.

Since Uniswap v3's launching, the WETH/SHIB pairing ranks as the top pairing by the whole fee creation using $2.4 million and number of trades with almost 57,000, beating out second-ranked WETH/USDT with $750,000 created over nearly 8,500 trades.

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

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

Cointelegraph's Joseph Young also noted that Dogecoin was also topping the transaction volume graphs, together with the DOGE/USDT perpetual contract on Binance Futures overtaking Bitcoin to rank as the top trading pairing over the stage.

While DOGE is up approximately 111% over the previous 14 days, SHIB has gained 973%, AKITA's is up 347%, and ELON's cost has increased 479% over the exact same period.

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lxbfYeaa 4 ay ago

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