Coinbase took advantage of the opportunity to become the most popular iPhone app in the US. Moreover, this is not a first for Coinbase.
Coinbase is a US-based cryptocurrency exchange platform. It is among the most used platforms in the USA. It turned out that the platform, which also has mobile applications, left TikTok behind. Although Coinbase is often preferred, it has become popular on the iPhone thanks to the incident due to the Shiba Inu.
Coinbase becomes the most downloaded app on iPhone after Shiba Inu decision
Coinbase became the most downloaded iPhone app in the US on Wednesday. According to U.Today, the largest U.S. stock market recently suffered temporary outages, which some investors attribute to the dire rise of the Shiba Inu. Shiba, a prank coin, hit an all-time high of $0.00008616 without showing any signs of cooling off in the price rally.
— danny (@baissa95) October 28, 2021
Coinbase added SHIB next to the app name in the App Store to capitalize on this rise. Normally, it read “Coinbase: Trade BTC, ETH”, but to take advantage of the opportunity, the company added SHIB next to ETH and took a share of Shiba’s price rally.
This isn’t the first time Coinbase has become the most popular app on the Apple App Store. The stock market also took the 1st place in early May, when the Dogecoin craze was in full swing. This happened just weeks after Coinbase went public on the Nasdaq. Coinbase seems to have made it a habit. The company managed to protect itself on the verge of a major market crash that occurred on May 19.
The Shiba Inu has been on the rise lately. The 24-hour market volume reached $46.78 billion. Many people warn investors against whales. If a large Shib sale takes place in the stock market, a rapid decline will begin.
This news is for informational purposes only. It is not investment advice.