It’s time for Meme coins to have a collective carnival! SHIB plunges 50% on Coinbase

The recent cryptocurrency market has been bullish, and various Meme coins have also followed suit. However, just as Bitcoin's midday gains retreated today, Shiba Inu Coin (SHIB) staged a dramatic 50% plunge on U.S. exchange Coinbase before quickly regaining stability. This price fluctuation triggered market attention and discussion, and many investors began to re-evaluate risks and investment strategies. This incident also reminds people once again of the volatility and uncertainty of the cryptocurrency market, and investors need to remain vigilant and cautious to avoid possible losses.

According to market data, the price of Shiba Inu Coin on the Coinbase trading platform briefly fell to $0.000020 today. This drop was significantly higher than that of other exchanges, such as Bybit, Kraken and other platforms. The average price was $0.000036. .

#This "pin insertion" phenomenon usually occurs when the market depth is insufficient or the exchange has insufficient liquidity. Taking Shiba Inu Coin on Coinbase as an example, the current 2% market depth is between US$1.39 million and US$1.28 million.

More than $1.39 million in Shiba Inu coin transactions occurred on Coinbase, which may have a significant impact on the platform’s currency price.

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