In a move driven by significant user interest, the online brokerage platform eToro has officially listed SHIB (Shiba Inu), the popular meme-inspired cryptocurrency. The company highlighted that this decision was a direct result of receiving overwhelming requests from its client base.
Due to SHIB's extremely low per-unit price—often a fraction of a cent—eToro will display transaction amounts using a two-digit format for better readability and user experience. This approach helps traders easily track and manage their holdings without dealing with long decimal numbers.
eToro, founded in 2006, is an Israel-based multi-asset investment platform with offices across the United States, Australia, and Europe. The company began its crypto journey in 2017 through a collaboration with CoinDash to develop blockchain-related trading solutions. A year later, eToro expanded its offerings by listing ten major cryptocurrencies for trading in the U.S. market. The platform is also planning to go public via a merger with a special purpose acquisition company (SPAC) valued at over $10 billion.
This isn't the first time eToro has responded to retail investor enthusiasm. In May, the platform added Dogecoin (DOGE), another meme cryptocurrency, which shortly afterward surged to an all-time high of $0.50 per coin. SHIB similarly rode the wave of "animal-themed crypto hype," climbing to a peak value of $0.00003641.
However, the broader cryptocurrency market experienced a major correction starting in mid-May, often referred to as the "519 crash." Since then, SHIB's price has declined by over 80%. Despite the mid-year launch of ShibaSwap—a decentralized exchange tied to the SHIB ecosystem—which initially attracted billions in total value locked (TVL), the token's value has struggled to recover. Recent data from ShibaSwap’s official website indicates that TVL has fallen significantly to under $400 million.
Understanding Meme Coins and Market Trends
Meme coins like SHIB and DOGE often gain traction through social media trends, community engagement, and high-profile endorsements. Unlike traditional cryptocurrencies that may emphasize utility or technological innovation, meme coins derive much of their value from viral popularity and speculative trading.
Investors are drawn to these assets due to their low entry price and potential for rapid gains. However, this also makes them highly volatile and susceptible to sharp downturns, as seen in recent months.
How to Evaluate Crypto Investments
When considering investing in cryptocurrencies like SHIB, it’s essential to conduct thorough research and understand the market dynamics. Look beyond short-term hype and evaluate the project’s fundamentals, community support, and long-term roadmap.
Diversification is another key strategy. Instead of focusing solely on high-risk assets, consider balancing your portfolio with established cryptocurrencies like Bitcoin or Ethereum, which tend to be less volatile. 👉 Explore more strategies for building a resilient investment portfolio
Always use reputable platforms for trading and ensure you’re familiar with the tools and formats they offer—like eToro’s two-digit display for micro-value tokens—to make informed decisions.
Frequently Asked Questions
What is Shiba Inu (SHIB)?
SHIB is an Ethereum-based meme cryptocurrency inspired by the Shiba Inu dog breed. It started as a fun alternative to Dogecoin but has grown into a large ecosystem including a decentralized exchange called ShibaSwap.
Why did eToro list SHIB?
eToro cited strong client demand as the primary reason for listing SHIB. The platform aims to meet user interests while providing accessible trading features, such as a simplified two-digit display format for small-value transactions.
Is SHIB a good investment?
Like all meme coins, SHIB is highly speculative and volatile. Its value is influenced more by social trends than fundamental utility. Investors should only allocate funds they are willing to lose and consider high-risk tolerance a prerequisite.
What happened during the May 19 crypto crash?
On May 19, 2021, the cryptocurrency market experienced a major sell-off, leading to sharp declines across most digital assets. The crash was attributed to regulatory concerns, leveraged trading liquidations, and shifting investor sentiment.
Can ShibaSwap help SHIB’s value recover?
While ShibaSwap adds utility to the SHIB ecosystem, its impact on the token’s price remains uncertain. Decentralized exchanges can boost engagement, but market recovery depends on broader factors like investor confidence and macroeconomic conditions.
How does eToro display SHIB transactions?
Due to SHIB’s low per-unit price, eToro shows transaction quantities in a two-digit format to improve readability. This user-friendly approach helps traders avoid confusion when dealing with fractional values.
Risk Warning
Cryptocurrency investments carry high risks due to extreme price volatility. You may lose your entire investment. Always assess your risk tolerance and conduct independent research before trading.