Shiba Inu, the popular cryptocurrency, has garnered significant attention once again within the crypto community. Lola, a prominent figure in the community, recently shared a post highlighting Shiba Inu’s position on Coinbase, where it was listed as a top asset.
According to the image shared by Lola, Shiba Inu ranks just below USDC on Coinbase’s asset list. This raises the question of whether SHIB is ahead of well-established cryptocurrencies like Bitcoin and Ethereum. However, the parameters used for ranking are unclear, and the list may not be in any particular order.
Nevertheless, Shiba Inu’s presence on Coinbase reflects its growing acceptance and interest among traders. Despite experiencing a 9.03% price drop, as mentioned in Lola’s post, the fact that SHIB is listed speaks volumes about its market presence.
Shiba Inu is not only prominent on Coinbase but also in Grayscale’s crypto asset spotlight. In a post on June 28, Grayscale recognized Shiba Inu as one of the largest crypto projects by market capitalization, alongside Bitcoin and Ethereum. This recognition is noteworthy, considering SHIB’s significant monthly loss of 34.8% between May 26 and June 26. Despite these losses, Shiba Inu maintains a strong market presence.
From a technical standpoint, Shiba Inu continues to demonstrate resilience. Data from IntoTheBlock shows that its market cap is $9.11 billion, with a current price of $0.000017, which represents a 7.45% increase in the last 24 hours. Notably, 52% of SHIB holders are in profit at the current price, indicating positive sentiment. Shiba Inu also has a high concentration of large holders, with 73% of the total. Furthermore, its high price correlation with Bitcoin (0.9) suggests that it closely follows Bitcoin’s market trends.
It is important to note that this content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.