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  Market Depth Analysis: Binance vs. Other Exchanges

In the case of market depth, Coinmarketcap outlines 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 make 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 make 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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On the other side , 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 likewise implies that Dogecoin (DOGE) markets in Coinbase could be slightly more liquid than those in Binance.

Hot Take

Based on the market depth analysis, SHIB has higher liquidity in Binance compared to other exchanges. Nonetheless, Dogecoin (DOGE) remains a more liquid Meme Coin coin overall, with Coinbase showing slightly higher liquidity for Dogecoin (DOGE) markets.

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Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.

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