SHIBA's Wild Ride: From 3,000% Surge to 84% Plunge

SHIBA's Wild Ride: From 3,000% Surge to 84% Plunge



A new meme-inspired cryptocurrency named Shiba ($SHIBA), which has self-dubbed itself as the “Birth of a New King,” experienced a staggering 3,000% increase in its price earlier this month. However, it has since plummeted, now sitting at an 84% decrease from its all-time high.



Etherscan, the Ethereum blockchain explorer, reveals that although SHIBA is not available on centralized crypto trading platforms such as Coinbase and Binance, it has garnered significant trading volume, reaching almost $250,000 million within a 24-hour span on Uniswap, a well-known decentralized exchange.



CryptoGlobe reported the surge in SHIBA’s price earlier this month, linking the price hike to the token’s low liquidity. Ethereum blockchain data indicates that SHIBA has been part of 28,200 transactions and is held by 2,047 owners.



The cryptocurrency h


Read more about SHIBA's Wild Ride: From 3,000% Surge to 84% Plunge


#Adoption, #Altcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations

Comments

Post a Comment

Popular posts from this blog

Polygon Labs Secures ISO 27001 Certification, Enhancing Blockchain Security Standards

Image
Polygon Labs has successfully obtained the ISO 27001 certification, a prestigious global standard for information security management systems (ISMS), according to a recent announcement on their official blog. The certification process was rigorously conducted by Schellman Compliance, which confirmed Polygon Labs' compliance with the stringent requirements of the ISO standards. ISO 27001 is internationally recognized and outlines comprehensive requirements for establishing, implementing, maintaining, and continually improving an ISMS. This framework assists organizations in managing and protecting their information assets so that they remain safe and secure, ensuring the confidentiality, integrity, and availability of critical data. By acquiring the ISO 27001 certification, Polygon Labs demonstrates a steadfast dedication to the Read more about Polygon Labs Secures ISO 27001 Certification, Enhancing Blockchain Security Standards #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptone
Read more

Tether Achieves Record $4.5 Billion Profit in Q1 2024 Amid Surging Treasury Holdings

Image
Tether, the issuer of the prominent USDT stablecoin, has reported a record-breaking net profit of $4.5 billion for the first quarter of 2024. This financial milestone was confirmed by a BDO assurance opinion, which also highlighted that Tether’s holdings in Treasury bills have surged to over $90 billion. The firm's total net equity has concurrently exceeded $11.3 billion, fueled by its diversified operations. The attestation further reveals that since the final quarter of the previous year, Tether's ownership of U.S. Treasuries and net equity have experienced substantial growth, climbing from approximately $80 billion and $7 billion, respectively. Of the $4.5 billion in net profits reported this quarter, $1 billion originated from operations associated with issuing stablecoins and managing reserves. Primarily, these profits were g Read more about Tether Achieves Record $4.5 Billion Profit in Q1 2024 Amid Surging Treasury Holdings #Blockchain, #Cryptocurrency, #Cryptomarket, #Cr
Read more

Cryptocurrency Market Fluctuates: Fear and Greed Index Drops to Fear Level

Image
The cryptocurrency market has witnessed a notable shift in investor sentiment, with the Crypto Fear and Greed Index retracting to a level of 43, the lowest since the previous October. This decline marks a substantial move from a state of greed to one dominated by fear, suggesting an increase in investor anxiety and a bearish outlook prevailing within the market. Traditionally, a score between 26 and 46 on this index indicates that fear is likely influencing market dynamics, possibly leading to more conservative investor behavior. This shift comes amid a drastic downturn in Bitcoin prices, which has significantly affected the mood among cryptocurrency traders. Only last week, the market sentiment was categorized within the greed zone, highlighting how rapidly investor emotions have changed in response to market conditions. Adding Read more about Cryptocurrency Market Fluctuates: Fear and Greed Index Drops to Fear Level #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewsto
Read more