Shiba Inu cut recent losses, climbing to 14th place on CoinMarketCap
Shiba Inu (SHIB) has managed to stage an impressive comeback, recovering 40% from its Jan. 22 low.
Currently, it is the 14th largest coin by market cap after overtaking Polygon (MATIC), according to data from CoinMarketCap.
The canine cryptocurrency is currently trading at $0.00002316 on the Binance exchange.
As reported by U.Today, SHIB slumped to $0.00001704, its lowest level since Oct. 6 amid a nasty selloff. It slipped to 16th place by market cap on Saturday, severely underperforming other cryptocurrencies. Even the increasing burn rate did not help avoid the disastrous crash.
The Ethereum-based token is still down -73.37% from its record-high after the recent uptick. It is also down 24% over the past week, which is in line with the rest of the market.
According to data provided by IntoTheBlock, only 39% of SHIB holders are currently in profit.
Bitcoin (BTC), the number one cryptocurrency, plunged to a multi-month low of $34,000 on the Bitstamp exchange. Ethereum (ETH), the biggest altcoin, careened to as low as $2,300.
Uphold adds support for Shiba Inu
Multi-asset exchange Uphold recently announced that it has listed Shiba Inu, becoming another leading trading platform for adopting cryptocurrency meme.
Earlier this month, the Dogecoin rival also went live on Indian cryptocurrency exchange Giottus and Mexican cryptocurrency exchange Bitso.
Robinhood, the top online broker, has yet to list Shiba Inu despite hundreds of thousands of requests. As reported by U.Today, Jason Warnick, the company’s chief financial officer, said the company will keep its options “open” when it comes to listing new assets.
