Coinbase’s Top 5: Shiba Inu’s Surge in Ranking

Shiba Inu (SHIB) is making waves in the crypto world once again. A recent revelation by a community figure, Lola, shed light on SHIB’s surprising rank on Coinbase. In an image shared by Lola, Shiba Inu appears just below USDC on the exchange’s top asset list. This places SHIB ahead of established giants like Bitcoin and Ethereum, though the exact criteria for the ranking remain unclear. Whether or not the list is in a specific order, SHIB’s position highlights its growing popularity.

Coinbase’s acknowledgment of SHIB reflects its increasing acceptance and interest among traders. Despite a recent price drop of 9.03% at the time of Lola’s post, SHIB’s place on the list speaks volumes about its market presence. Alongside SHIB, other cryptocurrencies such as Solana, XRP, and Litecoin also feature, showcasing various market fluctuations. Lola’s post challenges the skepticism seen on Crypto Twitter, which has often underestimated SHIB’s potential.

Shiba Inu and Other Exchanges

Shiba Inu’s prominence isn’t limited to Coinbase. Grayscale’s crypto asset spotlight also featured SHIB among the largest projects by market capitalization. In a post from June 28, Grayscale recognized Shiba Inu alongside giants like Bitcoin and Ethereum. This came despite SHIB experiencing a significant monthly loss of 34.8% between May 26 and June 26. These losses haven’t deterred SHIB from maintaining a strong market presence.

From a technical standpoint, Shiba Inu shows resilience. Data from IntoTheBlock indicates its market cap stands at $9.11 billion, with a current price of $0.000017, marking a 7.45% increase in the last 24 hours. Notably, 52% of SHIB holders are in profit at the current price, reflecting positive sentiment. Additionally, SHIB has a high concentration of large holders (73%). Its high price correlation with Bitcoin (0.9) suggests that SHIB may closely follow Bitcoin’s market trends.

In conclusion, Shiba Inu’s standing on Coinbase and recognition by Grayscale highlight its significant presence in the crypto market. Despite fluctuations and skepticism, SHIB continues to capture attention and maintain a robust market position. Its resilience and growing acceptance suggest that Shiba Inu is a crypto asset to watch closely.