Shiba Inu’s Price Tanks 4% Amid 100B SHIB Moved To Coinbase, What’s Next?

He criticized the SEC for its lack of clarity and insufficient explanation of charges against these exchanges, suggesting that the regulator’s actions may be inconsistent and arbitrary. Coinbase Support took to social media to acknowledge the issue and assure users that they were actively investigating and working towards a solution. She is the three-hundred years old god of the Inus who possesses divine power and intelligence, as well as being capable of understanding and speaking human languages.

Coinbase’s Legal Officer Rallying Binance, Ripple, Uniswap Against SEC’s ‘Gaslighting’

Always do your research before investing, and be prepared for potential losses. Last month, Judge Katherine Polk Failla of the US District Court of the Southern District of New York ruled that the SEC’s lawsuit against Coinbase can proceed. In a research analysis, KBW raised its Coinbase price target from $160 to $230 while maintaining its market performance rating. This is not the first time Coinbase has faced temporary outages. According to a developer guide from Mozilla, this error message commonly indicates that the servers are either undergoing maintenance or experiencing overload.

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You can store coins on exchanges after purchase but we recommend using a dedicated wallet for security and long term storage. They are the best choice for those storing a lot of value or planning to hold long term. This means that this asset is not suited as a new addition to your portfolio as trading in bear markets, especially for less experienced traders, is always harder.

MONONOKE-INU Historical Price

Upon further investigation, it was found that this address had no other token holdings in his wallet. Although the outage duration and the underlying cause have not been specified by Coinbase, the company is expected to provide updates as they work to resolve the issue and restore full functionality to its platform. The number they’ve sent about crypto in recent months is astonishing. It’s hard to imagine that they would (or could) bring so many enforcement actions at once. Coinglass data pointed out a 1.68% decrease in SHIB’s open interest, reaching $57.99 million, followed by a derivatives volume upswing of 46.46% to $84.39 million. The Judge’s decision came after Coinbase filed a motion to dismiss the SEC case, which borders on allegations the exchange operates as an unregistered securities exchange, broker, and clearing agency.

As a result, attempting to visit the Coinbase website currently displays a “503 Service Temporarily Unavailable” error message. There are guides to manage an unofficially supported ERC-20 token on Ledger and Trezor. You will need to connect your Ledger or Trezor to MyEtherWallet or MyCrypto.

  1. Upon further investigation, it was found that this address had no other token holdings in his wallet.
  2. The number they’ve sent about crypto in recent months is astonishing.
  3. Amid this slumping price action, a whale was noted to be moving a whopping 100 billion SHIB to Coinbase, one of the globally leading CEXs.
  4. Against the backdrop of a price correction experienced by Shiba Inu over the past week, the meme coin continued a downside momentum today, May 13, piquing significant investor attention.
  5. There are guides to manage an unofficially supported ERC-20 token on Ledger and Trezor.

Judge Robert Shelby of the federal district court of Utah reportedly condemned the SEC for what he called a “gross abuse” of power in accusing Debt Box of defrauding investors of over $49 million. Coinbase Chief Legal Officer Paul Grewal strongly criticized the US Securities and Exchange Commission (SEC) on May 14 regarding the Debt Box case. He also called on other crypto exchanges to query the SEC’s previous actions, considering the far-reaching implications for the sector.

Coinbase, one of the leading cryptocurrency exchanges in the United States, is grappling with a “system-wide outage” that has rendered its services inaccessible to users on both desktop and mobile platforms. According to data from the on-chain tracker ‘The Data Nerd,’ the whale address 0x462 made a deposit of 100 billion SHIB to Coinbase today. It’s important to note that this doesn’t necessarily indicate a sell transaction. However, given the current plunge in SHIB’s price, speculations about the implications of this transfer persist. The trading volume of Mononoke Inu (MONONOKE-INU) is $1,216.88 in the last 24 hours, representing a 368.20% increase from one day ago and signalling a recent rise in market activity.

As the crypto market struggles to find direction, leading meme coins like Shiba Inu and Dogecoin are getting attention from investors, seeking alternative strategies to avoid the ongoing Bitcoin doldrums. Illustrating heightened trading activity with reduced investor interest in the asset, the abovementioned data underscores Shiba Inu’s current market volatility. In the interim, the RSI rested at 38, flagging some selling pressure on the token.

However, gazing in on long-term prospects, a post-BTC halving could bring about a price rally in Shiba Inu, further coupled with bullish aspects such as continued token burns and ecosystem developments. Against the backdrop of a price correction experienced by Shiba is swing trading safer than day trading is it less risky Inu over the past week, the meme coin continued a downside momentum today, May 13, piquing significant investor attention. Amid this slumping price action, a whale was noted to be moving a whopping 100 billion SHIB to Coinbase, one of the globally leading CEXs.

This phenomenon has incited a whirlpool of speculations on the dog-themed meme coin’s future price movements. Besides, despite the Shiba crypto community’s recent token-burning chronicles and upgrades for the SHIB ecosystem, https://forexbitcoin.info/ the meme coin’s continued sinking price trajectory has fueled bearish thoughts among investors. With technicals also showing a selling sentiment for the asset, further dips in the short term might be expected.

In a thread on X, the Coinbase legal officer stated that the SEC had deviated from its typical Wells Notice process in its case against Debt Box, a cryptocurrency company it sued in 2023. Last month, investment banking firm KBW hailed Coinbase for offering investors a unique opportunity to tap into the long-term growth potential of the crypto economy and increased its price target for COIN to $230. On February 28, along with several other exchanges, Coinbase experienced service disruptions due to a surge in crypto trading activity.

A strong bullish outcome will be reinforced by a further step above the 200-day EMA (line in purple). SHIB’s bullish move was accentuated as bulls reclaimed support provided by the 20-day Exponential Moving Average (EMA) and the 50-day EMA (the blue and red lines on the chart). The information on this website is for educational purposes only, and investing carries risks.

Investors focusing on the long-term aspect of investing in Shiba Inu may not want to be bothered by market doldrums. However, they must be alert to employ key dollar-cost averaging techniques to buy lower-priced tokens which in turn maximize returns. The second-largest meme coin is on a path to becoming strongly bullish. This has been reflected by the rebound in the Relative Strength Index (RSI), holding at 54 and heading toward the overbought region.

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