What is the Required Amount to Boost Shiba Inu (SHIB) Price by a Mere 2%?

What is the Required Amount to Boost Shiba Inu (SHIB) Price by a Mere 2%?

Shiba Inu (SHIB) Market Depth Analysis: Binance vs. Other Exchanges

When it comes to market depth, Coinmarketcap reveals that the SHIB/USDT market in Binance has more liquidity compared to other exchanges. According to the data, a deposit of $775k in the Binance SHIB/USDT market could cause a 2% price increase, while a withdrawal of $1.1 million could result in a 2% price drop.

On the other hand, the SHIB/USD pair shows different figures. Approximately $546k could lead to a 2% price surge, while a withdrawal of about $759k could cause a 2% decrease in price.

Comparing the market depth of SHIB in other exchanges such as Kucoin and Kraken, the liquidity is significantly lower. In Kucoin’s SHIB/USDT pair, a deposit or withdrawal of $263k and $292k respectively could result in a 2% price change. The higher the required amount for price movement, the higher the liquidity.

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In contrast, Dogecoin (DOGE) requires much larger additions or withdrawals, ranging from $1.28 million to $1.55 million in the Binance DOGE/USDT markets, to see a 2% price change. The data also suggests that DOGE markets in Coinbase may be slightly more liquid than those in Binance.

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Based on the market depth analysis, SHIB has higher liquidity in Binance compared to other exchanges. However, DOGE remains a more liquid meme coin overall, with Coinbase showing slightly higher liquidity for DOGE markets.

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