Shiba Inu is one of just three altcoins to remain above its listing price out of all the new Coinbase listings added in 2021 and 2022.
In a breakdown by Onchain Wizard from June 24, the researcher found that new listings on Coinbase were down an average of 72% since their listings. Of the three now priced higher than their listing - Shiba Inu, Polygon, and Unifi - SHIB was the best performer.
Here’s a closer look at these Coinbase listings.
Shiba Inu Is The Best Coinbase Performer Since Listing
Based on the data from June 24, Shiba Inu was up 49% since its Coinbase listing and outperforming Bitcoin by 105%. This makes it the top-performing cryptocurrency after its listing on the exchange.
Coinbase finally listed SHIB in September 2021. This kickstarted an impressive growth period for the token, as it soared to new all-time highs in October 2021. Of course, Coinbase Pro (soon to be shut down for Coinbase Advanced Trade) did list Shiba Inu earlier in 2021.
Polygon and Unifi were up 32% and 1%, respectively. Meanwhile, just a further nine coins recorded losses of under 50%, including Solana and The Sandbox.
According to the Onchain Wizard, Internet Computer was the worst performer since its May 2021 listing, having decreased 98% since.
One possible explanation for this comes from the recent crypto crash. This saw the cryptocurrency market cap drop below $1 trillion and Shiba Inu add a zero to its price. Alongside this, Shiba Inu saw a huge price recovery last week that pushed its price up 30% - a much larger movement than most other cryptocurrencies within the top 20.
Shiba Inu is the 11th most popular cryptocurrency on Coinbase, according to its site. Trading activity for SHIB also remains above 75% of customers buying SHIB, and 25% selling.