eToro lists SHIB, the Shiba Inu token a few months after listing Dogecoin and allowing users to trade with the meme token so let’s read more in our latest altcoin news today.
The multi-asset investment platform eToro lists SHIB on its platform with plans to go public later this year and now it has listed the meme token after noticing a substantial demand from customers. Founded in 2006, eToro is an Israeli social trading brokerage company that has offices in a few EU countries as well as the US and Australia. The company announced the listing of SHIB in a press release and the statement read that the addition came due to the strong customer demand.
Users of eToro will be able to interact with the meme coin as Shiba “In millions” which is a lot of one million Shiba Inu units. According to the statement, this will provide customers with a better understanding of the pricing in a regular, two-decimal point format. The company outlined more plans to go public later this year and it will become possible after a merger with the Special Purpose Acquisition Company with a total valuation of over $10 billion. eToro listed the most popular meme coin Dogecoin and right after that, DOGE pumped to an ATH at $0.5.
SHIB saw its record price in mid-May as the popularity surged but it has declined by more than 80% since even though the recently launched ShibaSwap DEX attracted billions in total value locked a few days after the launch. The TVL declined by 80% to around $400 million.
As recently reported, a month ago, Dogecoin and Shiba Inu seem to have burned out during the recent price crash on the market. Reports showed that the trading volume on the market fell over 40% last month and the number taken from top exchanges saw the volume traded in Juen being dramatically lower than that in May. The prices followed the lead of Bitcoin which dropped to the $28,000 threshold the same month. Before then rising back to reclaim over $30,000 and despite the recovery, the damage seemed to have been done. The market was in a two-month-long recovery and continued to suffer price dips. ETH for example saw prices drop below $2000 and after this, the meme coins haven’t been left out of the crash. This opens up the question about why the meme coins seem to have it the worst as top coins fall and meme coins are trading in mid to high range dips.
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