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7 October 2022
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Coinbase Crashes as Shiba Inu Goes Ballistic After Surpassing Dogecoin


Coinbase goes down as demand for Shiba Inu goes through the roof

Coinbase, the largest crypto exchange in the U.S., is currently down. 

Coinbase
Image by coinbase.com

The website has been offline for over 15 minutes. The exchange’s status page says that it is experiencing “connectivity issues.”

Some speculate that the severe outage is linked to unprecedented traffic caused by the Shiba Inu frenzy.

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The meme coin’s trading volume has surpassed $5 billion on Coinbase alone, dwarfing Bitcoin’s and Ether’s numbers. 

After surpassing the market cap of archrival Dogecoin on both CoinGecko and CoinMarketCap earlier today, Shiba Inu soared even higher, reaching yet another all-time high of $0.00008519.

SHIB is currently the 9th biggest cryptocurrency.

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Back in May, online brokerage app Robinhood also crashed after its crypto trading systems were not able to handle the Dogecoin rally.    

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