Good news for the Shiba Inu (SHIB): its popularity is skyrocketing on Coinbase

The media specify that consequently only 8% of traders preferred to sell their Shiba Inu tokens in these 24 hours.

92% of Coinbase users trading Shiba Inu are buying $ SHIB, Exchange data shows #NewsBreak

It should also be noted that the holding period of SHIB tokens has increased on average from 120 days to 152 days. According to the Nasdaq-listed Wall Street trading platform, “increased buying activity can signal that the business is gaining popularity”increasing the length of detention “Signals a tendency towards accumulation”.

Refuse transactions anyway!

The thinning observed on Coinbase at the beginning of the week should not mask the recent difficulties of the SHIB. The token recorded the lowest total of transactions in 15 months last month, with the figure dropping from 209,702 in May to 157,889 in June.

The drop in transactions coincides with a drop in the price of the token, which fell 8% in one month. However, the optimism remains justified on the matter the pricegiven the decommissioning that has already destroyed 4 billion tokens.

Although SHIB’s price is currently around $ 0.000010, several analysts continue to predict good prospects for it. For example, Gov Capital estimates that the price could reach $ 0.000056 by the end of 2022. For Changelly, who is more cautious, if the price of the cryptocurrency increases in the next few years, it is in 2023 that the SHIB is expected to skyrocket to $ 0.00002271, which is significantly higher than the current price.

💎 Get your free Crypto Watch

The “Quickly Done, Well Done” Crypto Clock: Every Friday at 20:00 o’clock, receive our free crypto clock in your inbox. 100% added value, 0% spam!

🔥 Get your Free Guide “Find the Nuggets of the Future” as a Bonus: Learn to analyze cryptocurrencies like a pro, avoiding red flags and scams, to start or continue your adventure in the world of cryptocurrencies.

Leave a Comment