Tuesday, June 25, 2024

Shiba Inu Became The Most Popular Token On The Coinbase Crypto Exchange

On the largest US cryptocurrency exchange, daily altcoin trade volume surpassed $ 1.3 billion, surpassing Bitcoin ($ 774 million).

The Shiba Inu coin has become the most popular on Coinbase, the largest cryptocurrency exchange in the United States.

The Token cryptocurrency’s daily trading volume surpassed $ 1.3 billion. Bitcoin equivalent indicator is $ 774 million.

Shiba Inu has increased in price by 92 percent in the last day. The cryptocurrency is now trading at $ 0.00001872, Altcoin was ranked 21st in terms of market capitalization ($ 9.2 billion) on the list of the top cryptocurrencies.

One of the largest holders transferred more than $ 83 million worth of Shiba Inu from one address to another when the altcoin’s value skyrocketed. The cost of the transfer was $ 46. At the end of September, this “whale” paid around $ 43.8 million for 6.1 trillion Shiba Inu coins. As a result, he made almost $ 74 million in “paper profit” for the week.

The inventors of the Shiba Inu token have dubbed it the “Dogecoin killer.” According to the project’s website, the project’s primary goal is to outperform Elon Musk’s favored cryptocurrency in terms of market capitalization.

Shiba Inu creators claim to have been inspired by the Reddit forum WallStreetBets, which fraudulently boosted the value of shares in unsuccessful firms such as GameStop, AMC, and others.

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