Top Shiba Inu (SHIB) Trading Venue Huobi Rebrands to HTX

Huobi Global, one of the top trading platforms renowned as a major backer of the Shiba Inu (SHIB) meme coin project, has announced its comprehensive rebranding to HTX. The move, according to the exchange, was targeted at creating a new identity for the firm after a cumulative 10 years since it began serving customers from around the world.

Timeline of Shiba-inu

In a recent development, Robinhood, the popular U.S.-based trading platform, has witnessed an astonishing influx of Shiba Inu tokens (SHIB) into its wallets. Data extracted from the Etherscan explorer reveals an eye-popping acquisition of nearly a trillion SHIB tokens since the start of September.

Shiba Inu (SHIB) is in the spotlight at the moment as stakeholders are exploring to see whether or not it will beat its next major resistance price level. At the time of writing, Shiba Inu is worth $0.00000724 on spot exchanges after recording a mild loss of 0.84% in the past 24 hours, per CoinMarketCap data.

Blockchain explorer provider NOWNodes has unveiled a new offering dubbed the Shibarium RPC Full Node. The latest development was announced on the X app earlier today, exciting members of the ShibArmy.

The Shiba Inu (SHIB) network is buzzing, but not for the reasons you might think. A staggering $115 million worth of SHIB has been shuffled around by whales, triggering a 5x surge in large transactions.

Since the tail end of August, the SHIB price trajectory has been notably downward, plunging from a peak of $0.00000838 to a recent low of $0.0000069. This sharp 16.5% descent, aligned with the broader market bearishness, paints a picture of unwavering SHIB sellers.

Shiba inu started the week by dropping to its lowest point since June, as a red wave swept through cryptocurrency markets. This has pushed the global market cap 1.20% lower at the time of writing. XRP fell by as much as 5%, as Ripple's battle with the Securities and Exchange Commission (SEC) continued.

The anticipation by Shiba Inu (SHIB) bulls to start the week on a bullish note might not be going exactly as planned, as the meme coin has joined the general bearish downtrend on the market today. According to data from CoinMarketCap, Shiba Inu is down by 4.43% to $0.0000071, a price level that is an elongation of the 7.89% week-to-date (WTD) price drop.

The cryptocurrency market is currently experiencing a downturn, with a substantial portion of investors in Shiba Inu (CRYPTO: SHIB) and other cryptocurrencies facing losses. What Happened: According to data by IntoTheBlock, 83% of SHIB investors are seeing red despite last month's launch of Shibarium.

In a recent update, Lucie, the official marketing expert for the Shiba Inu development team, shed light on the primary objective behind creating Shibarium, their Layer-2 blockchain. Aimed at attracting a broad spectrum of players and developers, Shibarium seeks to become a hub for gaming, metaverse engagement, and decentralized applications (DApps) at minimal costs.

In the wake of volatile market sentiment, the Shiba Inu coin price has been navigating choppy waters. From August 30th, the coin price significantly dropped from a $0.000846 swing high and plunged to the $0.000000739 mark.