Shiba Inu Becomes Coinbase's Most-Traded Cryptocurrency

Shiba Inu, a Dogecoin clone, has become the most traded cryptocurrency on Coinbase in less than a month after it was launched on the major US platform.


SHIB's 24-hour trade volume is already $1.3 billion, putting it comfortably ahead of Bitcoin, which has $774 million.

The canine currency has re-entered the top 30 biggest cryptocurrencies by market value after surging over 80% in only 24 hours.

In only one day, its daily trade volume increased by a staggering 553 percent.

Shiba Inu is still 52 percent away from recovering its all-time high of $0.00003791, despite its recent comeback.

In May, the cryptocurrency was riding the canine coin wave with Dogecoin. SHIB's rise was fueled even further by Ethereum co-founder Vitalik Buterin's decision to burn 90% of his SHIB tokens. Then, owing to a wider market downturn, the rise came to a crashing stop, with the token's price plummeting 89 percent from its high.

The continuing rebound is said to be fueled by Musk's recent picture of his Shiba Inu dog, as well as speculations of a Robinhood listing.

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