Coinspeaker
Shiba Inu Declines Briefly on Coinbase Following Price Surge of 50%
Shiba Inu (SHIB) enthusiasts experienced a rollercoaster of emotions as the token’s price surged by an impressive 50% within the last 24 hours, only to witness a dramatic drop of the same magnitude on the US exchange Coinbase Global Inc (NASDAQ: COIN).
Shiba Inu’s Sudden 50% Drop on Coinbase
In the early hours of today, Shiba Inu holders were caught off guard as the token’s price plummeted by 50% on Coinbase, from $0.000044 to $0.000022. This sharp decline occurred amidst a broader sell-off triggered by a mild downturn in Bitcoin (BTC) prices.
However, this drop was peculiar, as it was not mirrored on other exchanges such as Bybit and Kraken, where SHIB maintained an average price of $0.000036. Analysts attributed this anomaly to a possible imbalance between sell orders and available liquidity on Coinbase.
Despite the morning sell-off, Shiba Inu quickly bounced back, showcasing its resili
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