Shiba Inu and Dogecoin keep swapping places, vying for meme coin supremacy
After flipping Dogecoin for the first time on Wednesday, Shiba Inu is once again above its canine archrival, with its price printing a double-digit increase. At press time, it is valued at $39.3 billion.
Earlier today, Coinbase, the top U.S. exchange, has updated its price precision for pairs with the Shiba Inu cryptocurrency.
The maximum number of decimals that can be entered on the order form has been reduced from eight to seven. Placing an order that exceeds seven decimals will result in an error.
The change has been caused by the massive spike in the Shiba Inu price. The meme token is up 925% over the past month.
Starting today 10/28 at 4pm PT we will be updating our precision for SHIB-USD & SHIB-USDT order books. Precision will be reduced from .00000001 to .0000001. We will maintain this level unless the price of SHIB-USD drops below .00003. Updates will be posted here & via Status Page.
— Coinbase Pro (@CoinbasePro) October 28, 2021
Coinbase says that it will keep the current maximum precious as long as the price of Shiba Inu stays above the $0.00003 level.
The “Dogecoin killer” hit its current all-time high of $0.00008616 on Oct. 28, but its price is currently down 22.3% from the recent peak.
Shiba Inu started trading on Coinbase in mid-September. Less than a month since the listing, it became the most traded cryptocurrency on the exchange.
On Wednesday, Coinbase experienced some downtime that was allegedly caused by massive Shiba Inu buying.