The secret to the drop in the price of Shiba Inu (SHIB) by 50% on a certain cryptocurrency exchange!

The price of Shiba Inu (SHIB) on the American cryptocurrency exchange Coinbase collapsed by 50% on Tuesday. This sharp decline contrasts with its more consistent performance on other trading platforms.

On Coinbase, it decreased SHIB Price From $0.000044 to $0.000020, hovering around $0.000036 on other cryptocurrency exchanges. This incident highlights the volatility of the cryptocurrency market and the challenges exchanges face in maintaining liquidity.

How did the SHIB price crash on Coinbase?

The great collapse is due to Shiba Inu Price on Coinbase to large sell orders exceeding the liquidity of the exchange. As a result, by European morning, SHIB market depth on Coinbase had rebounded to $1.2 million.

Following this, SHIB spot trading volumes on the platform reached $1.7 billion, the highest level among its peers. Moreover, despite the early sell-off, it recovered SHIB rates Impressively, it has seen gains of 46% in the last 24 hours.

I climb on BeINCrypto Coinbase Review

Meanwhile, as Bitcoin nears its all-time high of $69,000, WashingtonVSH a few Coinbase Users Experiencing Worrying Display Issues. Specifically, their account balances incorrectly showed zero.

A Coinbase spokesperson later clarified that the flaw affected “a small subset of users.” They confirmed the assets were safe and identified the issue as a supply issue. They confirmed that an immediate fix has been implemented to correct display issues affecting customer account balances and reduce response time on Coinbase.com.

Additionally, instability is not limited to Coinbase or SHIB. Indian cryptocurrency exchanges have also seen a decline in altcoin prices. A declaration Cryptocurrency influencer Sumit Kapoor reported a drop of more than 20% in several cryptocurrencies on the WazirX exchange, including... Jito (JTO) And LeverFi (LEVER) And JasmyCoin (JASMY).

The generally stable USDT also saw an unusual decline of around 17% against the Indian rupee.

He explained Sumit Gupta, co-founder of cryptocurrency exchange CoinDCX, said: “BTCUSDT and SHIBUSDT (especially SHIBINR, due to sudden sell-off) markets corrected on all exchanges, which also led to a decline USDTINR prices because all markets are interconnected.

These incidents also highlight the crucial need for cryptocurrency exchanges to maintain adequate liquidity. Such measures can avoid major price disruptions due to large orders. Cryptocurrency influencer SFZ took to X to criticize liquidity issues on cryptocurrency exchanges

“We've been in a bear market for two years, and you've built this situation up... it's sad to see,” he said. books ZSF