Shiba Inu Spot Trading Volume Surges 154% on Major Exchanges

Shiba Inu has experienced a significant increase in spot trading activity across multiple exchanges, with a 154% rise on Kraken alone in the past week. This suggests increased interest from spot buyers during a broader crypto market decline.

Shiba Inu's market cap ranks it as the second-largest meme coin.
The coin's value has increased by nearly 7% over the past week, despite Bitcoin's volatile movements.
While spot trading volume is up, derivatives volume has decreased by over 10%, and open interest has dropped by almost 4%.

Additionally, the Federal Reserve may cut interest rates soon, potentially increasing liquidity in the crypto market, which could positively impact Shiba Inu.

Community updates reveal that over 45 billion SHIB have been moved off exchanges, indicating accumulation. A notable $35 million whale transfer also signals bullish sentiment among large holders.

Coinbase plans to launch Shiba Inu futures on December 12.
NYSE Arca has filed for a Shiba Inu ETF, advancing closer to launch.
Upgrades are underway on the Shibarium network, including an RPC upgrade and upcoming privacy enhancements.

Currently, Shiba Inu trades at approximately $0.000008498, reflecting a recent price increase.