Shiba Inu’s SHIB Price Slumps Despite Nexo Listing

• Nexo lists Shiba Inu (SHIB), now trading at $0.00002273 amid a price drop.
• SHIB’s market cap fell to $13.41B as trading volume dropped by 34.91%.
• Key support at $0.00002264 could signal reversal or further bearish decline.

Nexo, a prominent crypto platform based in Switzerland, recently announced the addition of Shiba Inu (SHIB) to its offerings. This integration highlights SHIB’s evolution from a simple memecoin to a significant community-driven project. 

.@Shibtoken's $SHIB is live on Nexo! Let's explore.

Originally launched in August 2020 as a playful meme coin, $SHIB has rapidly evolved into a robust symbol of community empowerment.

Inspired by the iconic Shiba Inu dog meme, the project has thrived with the help of its… pic.twitter.com/qchmWU8oNA

— Nexo (@Nexo) May 7, 2024

Despite the positive development, SHIB’s price has experienced a notable decline in the past day. According to data from Coinstats, the price of SHIB has fallen by 4.44%, now trading at $0.00002273. 

This decrease is part of a broader downturn seen in its market cap, which dropped by 3.68%, now valued at approximately $13.41 billion. Conse…

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