Shiba Inu’s Surge In Ranking

Shiba Inu (SHIB) is once again making waves in the crypto world. A recent expose by community celebrity Laura revealed SHIB’s surprising ranking on Coinbase. In the image shared by Laura, Shiba Inu appears just below USDC on the exchange’s list of top assets. This places SHIB above established giants such as Bitcoin and Ethereum, although the exact criteria for the ranking are still unclear. Whether or not the list is in any particular order, SHIB’s position highlights its growing popularity.

Coinbase’s recognition of SHIB reflects its growing acceptance and interest among traders. SHIB’s inclusion on the list speaks to its market presence, despite a 9.03% price drop at the time of Lola’s post. In addition to SHIB, other cryptocurrencies such as Solana, XRP, and Litecoin were also featured, which have seen a range of market volatility. Lola’s post challenges skepticism on Crypto Twitter, which often underestimates SHIB’s potential.

Shiba Inu and other interactions

Shiba Inu’s visibility is not limited to Coinbase. Grayscale’s Crypto Spotlight also featured SHIB as one of the largest projects by market cap. In a June 28 post, Grayscale ranked Shiba Inu alongside giants like Bitcoin and Ethereum. This is despite SHIB experiencing significant monthly losses of 34.8% between May 26 and June 26. These losses have not prevented SHIB from maintaining a strong presence in the market.

From a technical perspective, Shiba Inu has shown resilience. According to data from IntoTheBlock, it has a market cap of $9.11 billion and a current price of $0.000017, up 7.45% in the past 24 hours. Notably, 52% of SHIB holders are profitable 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 track Bitcoin market movements.

In conclusion, Shiba Inu’s status on Coinbase and recognition by Grayscale highlight its significant presence in the crypto asset market. Despite volatility and skepticism, Shiba Inu continues to garner attention and maintain a strong market position. Its resilience and growing acceptance suggest Shiba Inu is a crypto asset to watch.

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