Online brokerage platform eToro has recently listed SHIB (Shiba Inu), a popular meme cryptocurrency. In its official announcement, the company stated: "This decision was driven by strong client demand."
Key Features of SHIB on eToro
- Low Unit Price: SHIB’s per-token value is extremely low (fractions of a cent). To simplify trading, eToro displays transactions in a user-friendly two-digit format.
- Market Trends: SHIB surged to an all-time high of $0.00003641 during the "meme coin frenzy" earlier this year, mirroring the rise of Dogecoin (DOGE), which eToro listed in May 2021.
Background on eToro
Founded in 2006, eToro is an Israel-based multi-asset brokerage with offices in the U.S., Australia, and Europe. Since partnering with CoinDash in 2017, it has expanded its crypto offerings, including 10 cryptocurrencies for U.S. investors in 2018. The company plans to go public via a SPAC merger (valued over $10 billion) by year-end.
Volatility and Recent Challenges
Despite initial hype, SHIB’s price has dropped over 80% since the May 2021 crypto market crash. The launch of ShibaSwap (a decentralized exchange) in July briefly attracted billions in Total Value Locked (TVL), but TVL has since plummeted to under $400 million, per ShibaSwap’s official data.
👉 Discover how to diversify your crypto portfolio safely
Risk Advisory
Cryptocurrency investments are highly volatile. Prices can fluctuate drastically, and investors may lose their entire capital. Always assess risks carefully.
FAQ
1. Why did eToro list SHIB?
eToro cited "overwhelming client demand" as the primary reason, aligning with its strategy to support trending assets like Dogecoin.
2. How does eToro display SHIB’s low unit price?
Transactions are shown in a simplified two-digit format for clarity.
3. What caused SHIB’s price drop?
The broader crypto market downturn in May 2021, combined with reduced activity on ShibaSwap, contributed to the decline.
4. Is eToro a publicly traded company?
Not yet. It aims to go public via a SPAC merger in late 2021.
👉 Learn more about meme coins and market trends
5. Should I invest in SHIB now?
Due to extreme volatility, consult financial advisors and only invest what you can afford to lose.
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