Coinbase NFT's and SHIB INU drive Coinbase in App Store Number One Place
Coinbase Returns to No. 1 in Apple US App Store
Coinbase’s iOS app, which was launched in June 2014, has seen almost 1.5 million downloads to date, with a sudden increase in downloads over the past 48 hours. On Tuesday, November 2, Coinbase was the 11th most popular app in Apple’s U.S. App Store.
Data from SensorTower also show that Coinbase is currently the second most popular app in Google’s Play Store, with Square’s Cash App at Number 5, and Crypto.com at Number 7.
Coinbase’s return to the top tier of the App Store rankings coincides with a rally for meme coin Shiba Inu, which became available on the exchange in September. The Ethereum-based cryptocurrency has been on a tear recently, hitting a new all-time high earlier on Thursday.
Per CoinGecko, SHIBA’s trading volume topped a staggering $43 billion over the past 24 hours, with Coinbase responsible for as much as $5 billion of that figure.
Shiba Inu token is a decentralized cryptocurrency created in August 2020 by an anonymous person or persons known as "Ryoshi". It has been characterized as a "meme coin”.
There have also been concerns about the concentration of the coin with a single "whale" wallet controlling billions of dollars worth of the token.
The exchange price of the cryptocurrency notably surged in early October 2021. Initially, it increased over 55% after rumors of the launch of a decentralized exchange, its value continued rising with an increase of 240% over the week.
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