SHIB's Trading Volume on Coinbase Surges by 1,711%

user avatar

by Giorgi Kostiuk

2 years ago

SHIB trading volume on the American crypto exchange Coinbase has surged by 1,711%, aligning with anticipated changes in the Shiba Inu ecosystem.

Increase in SHIB Trading Volume on Coinbase

The SHIB/USD trading pair on Coinbase reached $13.12 million in the last 24 hours, indicating renewed interest in the token. The Shiba Inu ecosystem is preparing for significant changes in 2025, including the launch of the TREAT token. The community expects this to strengthen SHIB's position in the long term.

Mark your calendars, it’s going to be legendary.Treat

Analysis of SHIB Price Trends

Despite the increased trading volume, SHIB's price remained stable at nearly $0.0000236 over the past 24 hours. The token rose 12% over the week, delivering 50% 'green days' and price volatility at 12.22%. The current technical picture indicates a neutral market sentiment with the Fear & Greed Index at 76, which signals 'extreme greed'.

Shib will do what it does, 'slowly then all at once'—a monster vertical move.$trong

Changes in SHIB Wallet Activity

Market activity has led to changes in SHIB wallet structures. The number of wallets holding between 1 trillion and 10 trillion SHIB decreased by 20%, while the number of addresses with 1 billion to 10 billion SHIB increased by 9%. This could indicate increased interest from retail investors.

SHIB has shown a significant increase in trading volumes on Coinbase, but the price remains stable. The shift in activity from large players to smaller wallets suggests growing retail investor interest, which could impact future price movements.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Canary Staked INJ ETF Now Trading on Nasdaq

The Canary Staked INJ ETF began trading on Nasdaq under the ticker INJC on November 5, offering exposure to the Injective token and staking rewards.

user avatarMohamed Farouk

Nigeria's Central Bank Unveils New Regulations for Virtual Assets

On November 5, 2023, Nigeria's Central Bank announced a new licensing framework for non-security virtual assets, including stablecoins, aimed at enhancing consumer protection and financial system integrity.

user avatarElias Mukuru

US Economy Adds 165,000 Jobs in October

The Bureau of Labor Statistics reported that the US economy added 165,000 jobs in October, with the unemployment rate stable at 4.1%, complicating expectations for quick monetary easing by the Federal Reserve.

user avatarDiego Alvarez

TeraWulf Announces Major Contracts and Future Plans

TeraWulf has secured significant contracts, including a 20-year lease with Anthropic and a credit backstop from Google, signaling strong future revenue potential.

user avatarKenji Takahashi

TeraWulf Reports Significant Shift in Revenue Sources

TeraWulf's third-quarter earnings reveal a major transition towards high-performance computing, with HPC lease revenue making up 83% of total revenue.

user avatarMaria Fernandez

Solana Foundation Reports Major Protocol Changes and Record Asset Value

The Solana Foundation has released its October 2023 ecosystem review, detailing significant protocol changes that went live last month, including a reduction in target slot time to 200 milliseconds and the activation of Alpenglow consensus, highlighting a record value of $5 billion in real-world assets on the network.

user avatarGustavo Mendoza

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.