KuCoin CEO Suggests That It’s Worth Holding on to Shiba Inu Despite Recent Price Change

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The CEO of KuCoin, an incredibly popular crypto trading platform, has said that the Dogecoin-inspired project known as Shiba Inu is still worth holding onto for the long-term, even though there have been corrections in its price recently.

According to MarketWatch, Lyu disclosed that Shiba Inu’s trading volume has surpassed Bitcoin’s trading volume for three days straight on KuCoin. Not only that, but it was even able to briefly surpass Ethereum’s trading volume around last month, which is the second-largest crypto based on market capitalization.

Lyu goes on to say that KuCoin primarily focuses on targeting retail investors, which are the audience that has been helping meme tokens grow this year, such as Shiba Inu and Dogecoin. According to a report by CryptoGlobe, Shiba Inu has grown so much this year in terms of popularity, so much so that it has become the third-most Google crypto project in 2021 alone with 2.8 million monthly searches on average.

Bitcoin, on the other hand, only has 22 million monthly searches on average while Ethereum has 6.3 million. Over the past three months, Shiba Inu has risen to more than 570%, even though it has been quite peaky since later in October.

Lyu noted that ever since SHIB has been increasing, investors who don’t have a lot of extra funds to spare on crypto yet want to make a profit from it have turned to either Shiba Inu or Dogecoin, seeing as their price range is significantly lower than that of BTC.

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Photo by Executium on Unsplash

Lyu goes on to say that these investors are “very passionate” about these tokens and are determined to boost their value even higher. At the moment, there’s an ongoing Change.org petition requesting Robinhood to list Shiba Inu onto their platform, and it already has over 500,000 signatures.

The petition, entitled “Kindly request of Robinhood to list Shiba Inu coin!” has 528,997 signatures at the time of writing and continues to increase with every second. It also notes that Robinhood listed Shiba Inu’s rival, Dogecoin, a while back and it was a major success for the platform.

Even though Shiba Inu saw a downtrend recently, Lyu says that the meme token is still worth holding on to alongside Doge and Bitcoin.

This news is republished from another source. You can check the original article here

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