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The latest coin leading the crypto market is Shiba Inu (SHIB).
Up more than 240% in the past 7-days, the SHIB token is currently trading at $0.00002380. Even more exciting is that from its low in late November, SHIB is up a whopping 41,673,167%.
Despite the recent gains, the funding rate on SHIB perpetual contracts is still negative, as per Bybt, which gives hope to an extension of this uptrend.
Just five months back, SHIB had made a new all-time high of $0.00003791 and is currently down 38% from this peak.
Much like in May, the volumes for the crypto asset are seeing a big spike for the last couple of days.
Additionally, much of this trading activity is actually happening on the biggest cryptocurrency exchanges, namely Binance, Coinbase, and Huobi. According to CoinGecko, in the past 24 hours, Binance had recorded $4.2 billion, Coinbase $1.85 billion, and $1.13 billion on Huobi in SHIB volume.
Interestingly, on Coinbase, SHIB is doing more volume than Bitcoin right now. 30.32% of Coinbase’s total volume is currently coming from SHIB against USD and USDT, while Bitcoin, Ethereum, Solana, and Dogecoin account for 18.19%, nearly 12%, 5.22%, and over 4%, respectively.
It was only about last month that Shiba Inu was made available on Coinbase.com and in its Android and iOS apps.
The same as Coinbase, SHIB is leading the activity on Binance as well by accounting for 13.60% of its total volume, with Bitcoin coming in second at less than 10%. Similarly, about 17% of Huobi’s volume is from SHIB/USDT.
There is also a petition to get the SHIB token listed on Robinhood, which has gained 200,952 signatures so far. The petition reads,
“Dogecoin has been a huge success for Robinhood, and its investors. We have all enjoyed the ride. Shiba Inu is a similar meme coin with genuine potential.”
With Robinhood having 18 million accounts and the original meme coin DOGE already a success on the platform, such a listing is not only a lucrative opportunity for SHIB holders but also for the online brokerage company.
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