Shiba’s 24hr volume was $21,895,964,793, basically 2/3 of its total market cap. How is this possible?

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Shiba’s 24 hour volume (according to coingecko) is $21,895,964,793, and its market cap is $32,461,992,755. Does this not mean that 2/3 of all Shiba in existence moved in the last 24 hours?

For comparison, Eth’s 24 hour volume was $30,041,300,300 and its market cap is $473,869,675,360, so less than 10% of it was traded in the last 24 hours, which seems much more reasonable.

What are the ramifications of a coin’s entire (almost) supply moving in one day? Does this kind of action exist in any other market, has any other coin seen this percent of its supply move in one day?!

My brain hurts from looking at those numbers.

submitted by /u/jawanda
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