Shiba Inu (SHIB) Rally Loses Momentum

Shiba Inu (SHIB) experienced an astonishing bullish rally this year as the total market cap of the meme coin jumped from a few million dollars to over $50 billion in the first 10 months of 2021. However, the rally has stalled for now.

After touching an all-time high of $0.000087 on 28 October, Shiba Inu saw a gradual decline over the following weeks. The cryptocurrency has lost nearly 40% of its value since then. With a market cap of $28 billion, SHIB is no longer among the top 10 cryptocurrency assets in the world.

Earlier this month, crypto Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Kraken teased the Shiba Inu community with a tweet about the possible listing of SHIB. According to Kraken, the exchange is currently going through a listing review process.

In the meanwhile, Christine Brown, COO of Robinhood Crypto, said that the company is in no rush to list crypto assets like Shiba Inu. "I also think that our strategy is a little bit different than a lot of the other players out there who are just racing to list as many assets as possible right now. We think that the short-term gain we might get is not worth the long-term tradeoff for our users,” Brown told Decrypt's Editor-in-Chief, Dan Roberts.

Shiba Inu Army

Despite the recent drop in the price of SHIB, the digital asset has been trending on social media platforms like Twitter. Shiba Inu Army (the community of SHIB holders) has grown exponentially in the past few months. According to Coinmarketcap, the total number of Shiba Inu holders currently stands at around 942,000. Since 15 August 2021, the total number of SHIB holders has increased by more than 50%.

However, not every Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term is willing to list SHIB. In her latest interview, Brown said that the safety of users is the first priority of Robinhood. "We want to make sure that we're working at assessing everything from a regulatory perspective really well,” Brown added.