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Shiba Inu’s Coinbase Trading Volume Skyrockets 1,711%: Reasons
A recent surge in trading volume has sparked excitement among the cryptocurrency community as Shiba Inu (SHIB) saw a staggering 1,711% increase in its trading volume on Coinbase. This rapid rise may be attributed to various factors.
Firstly, the growth of SHIB’s user base and adoption have led to increased trading activity. As more people become aware of this meme-based cryptocurrency, it is not surprising that the number of users participating in the market has also seen a surge.
Secondly, Coinbase’s decision to add SHIB to its platform can be viewed as a significant catalyst for the rise in volume. This listing was long-awaited by investors and traders alike, which may have led to increased buying pressure and subsequent trading activity.
Thirdly, it’s essential to note that these figures are likely affected by the overall cryptocurrency market sentiment. In recent months, there has been a significant shift towards more risk-tolerant investments in various asset classes. As a result, some investors who previously shied away from SHIB may now be reevaluating their stance.
While the future prospects for SHIB’s trading volume are difficult to predict with certainty, we believe that these factors will continue to drive its growth.
Source: u.today
