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

Grayscale's Research Note Explores Crypto and AI Integration

Grayscale's October 23 research note discusses the intersection of cryptocurrency and AI, highlighting various business models and their implications.

user avatarAndrew Smith

Lido Introduces New Community Staking Module for Ethereum Validators

Lido has launched a new Community Staking Module on October 23, allowing Ethereum validators to hold larger effective balances.

user avatarJacob Williams

Understanding Saffron's Vault System

Saffron's current product structure separates upfront payments from uncertain trading fees generated by Uniswap liquidity positions.

user avatarSon Min-ho

Bank Policy Institute Critiques Stablecoin Regulation

The Bank Policy Institute has renewed its criticism of the Office of the Comptroller of the Currency's final stablecoin rule, particularly regarding the treatment of third-party arrangements.

user avatarZainab Kamara

Kraken Introduces SFI Trading on October 23

On October 23, Kraken announced the addition of SFI trading, providing fresh access to a token associated with the Saffron protocol, which has undergone significant changes since its early DeFi days.

user avatarAyman Ben Youssef

Kraken Exchange Announces Withdrawal Phase for 13 Assets

Kraken has officially moved into the withdrawal phase for 13 assets, with trading and deposits set to stop on October 23, 2023. Customers are urged to withdraw their remaining tokens before the exchange begins liquidating balances.

user avatarTando Nkube

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.