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

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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.

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