According to CoinMarketCap, the SHIB/USDT Market on Binance has a greater level of depth compared to other exchanges. Market depth is a measure of liquidity, indicating the amount of funds needed to cause a significant price change.
For SHIB on Binance, a deposit of around $775k could lead to a 2% price surge, while a withdrawal of $1.1 million could cause a 2% drop. In contrast, the SHIB/USD pair on Binance would require a deposit of about $546k for a 2% increase and a withdrawal of approximately $759k for a 2% decrease.
CoinMarketCap’s data also highlights that the market depth for SHIB in other exchanges, including KuCoin and Kraken, is considerably lower than that of Binance and Coinbase. Using the SHIB/USDT pair on Kucoin as an example, a deposit or withdrawal of just $263k and $292k respectively would result in a 2% price change.
Comparatively, for Dogecoin (DOGE), the Binance DOGE/USDT market would require additions or withdrawals of $1.28 million and $1.55 million to see a 2% price change. In Coinbase, it would take $1.01 million to push DOGE by 2%, while approximately $1.9 million is needed to drive a 2% drop in the DOGE/USD markets.
This data suggests that DOGE markets on Coinbase may be slightly more liquid than those on Binance. Additionally, the data indicates that DOGE remains a more liquid meme coin compared to SHIB.
In recent news, SHIB has announced the introduction of Shibarium, its long-anticipated layer-two network. More information about this Development can be found in a detailed video..
#Money #Needed #Increase #Shiba #Inu #SHIB #Price
For SHIB on Binance, a deposit of around $775k could lead to a 2% price surge, while a withdrawal of $1.1 million could cause a 2% drop. In contrast, the SHIB/USD pair on Binance would require a deposit of about $546k for a 2% increase and a withdrawal of approximately $759k for a 2% decrease.
CoinMarketCap’s data also highlights that the market depth for SHIB in other exchanges, including KuCoin and Kraken, is considerably lower than that of Binance and Coinbase. Using the SHIB/USDT pair on Kucoin as an example, a deposit or withdrawal of just $263k and $292k respectively would result in a 2% price change.
Comparatively, for Dogecoin (DOGE), the Binance DOGE/USDT market would require additions or withdrawals of $1.28 million and $1.55 million to see a 2% price change. In Coinbase, it would take $1.01 million to push DOGE by 2%, while approximately $1.9 million is needed to drive a 2% drop in the DOGE/USD markets.
This data suggests that DOGE markets on Coinbase may be slightly more liquid than those on Binance. Additionally, the data indicates that DOGE remains a more liquid meme coin compared to SHIB.
In recent news, SHIB has announced the introduction of Shibarium, its long-anticipated layer-two network. More information about this Development can be found in a detailed video..
#Money #Needed #Increase #Shiba #Inu #SHIB #Price
