The recent bull run of one Shiba Inu (SHIB) may have contributed to the rise of Coinbase above apps such as Instagram, Youtube, and Tik Tok on the Apple app store.
Probably nothing pic.twitter.com/mglaiJC0M9
— Yuri Sagalov (@yuris) October 28, 2021
Coinbase has certainly taken advantage of the popularity it has garnered, including Shiba Inu in the name of the app.
The cryptocurrency exchange crashed on Wednesday and most theories put it down to traffic caused by Shiba Inu (SHIB), which recently overtook Dogecoin (DOGE) in market cap on both CoinGecko and CoinMarketCap.
The website was offline for 15 minutes as Shiba exceeded $5bn in trading volume on Coinbase and now ranks as the ninth biggest cryptocurrency.
While this is an admirable achievement for the exchange and those in the crypto industry, this isn’t the first time Coinbase has reached the pinnacle of the Apple app store.
The Coinbase app took first spot in May this year following the frenzy of Dogecoin and fast forward five months, its self-proclaimed rival has surpassed the original meme coin.
Let alone going back to May, Coinbase was the number one iPhone app in 2017 when Bitcoin experienced a major surge.
Shiba’s recent skyrocketing has enabled them to reach yet another all-time high of $0.00008519.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.