Coinbase’s volume breakdown report for the week ending November 19 reveals the cooling of Shiba Inu investments and the decline in trading. However, SHIB is still ahead of many large-volume altcoin projects. Here are the details…
SHIB can stay in third place despite cooling, according to Coinbase report
According to Coinbase Institutional’s November 19 weekly report, SHIB accounted for 6.72% of the total turnover on the Nasdaq-listed crypto exchange, falling to third place behind Bitcoin and Ethereum. Shiba, also known as the Dogecoin killer, topped Coinbase’s volume rankings in the previous two weeks, contributing 16.6% to total activity in the seven days up to November 11 and 25% to total activity in the seven days through November 5.
However, SHIB is still ahead of leading cryptocurrencies such as Solana and Polkadot, its scaling solution Polygon, and LINK, the native crypto of decentralized oracle network Chainlink. The individual investor-heavy token has consistently been one of the three most traded cryptocurrencies since the second week of October. Coinbase shares the following table in its weekly report dated November 19:
cryptocoin.com SHIB, which we cited in our analysis, caught a strong investor base in the second half of last month after Bitcoin broke new records with its April peak above $64,889. The meme token hit a new ATH of $0.00008894 on Oct. 28, ending the month with a 830% gain. Many analysts interpret the increase in SHIB as a sign of the individual investor frenzy often observed at broader market tops. The dog-themed cryptocurrency’s parabolic run in early May was followed by a market-wide sell-off that saw Bitcoin drop from $58,000 to $30,000 in one week.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.