Coinbase reached the top of the Apple App Store in the U.S. on Wednesday. It is presently above YouTube, Instagram, and TikTok.
According to U.Today, the largest U.S. exchange recently suffered temporary downtime. Many guess the crash was connected to the colossal Shiba Inu runup.
The meme cryptocurrency newly struck yet another all-time high of $0.00008616. Its cost rally shows no signs of cooling down.
Coinbase profited from the rally by including the SHIB ticker to the name of its app together with Bitcoin (BTC) and Ether (ETH).
Shiba Inu’s daily trading volume hit $5.1 billion on the exchange, more than five times that of Bitcoin and Ethereum.
Possible Selling Signal
It’s not as though Coinbase has never reached the #1 spot on the Apple App Store.
Coinbase prevailed as the most popular app at the beginning of May when the Dogecoin craze was in full swing. This surge came just weeks after the exchange went public on Nasdaq.
Keep in mind that Coinbase became the top app precisely on the cusp of a significant market crash that occurred on May 19.
In addition, the Coinbase app reached the #1 spot in late 2017 when the crypto bubble was about to pop.
Hence, several people may be enticed to view Coinbase’s newest rising to the top spot as a sell signal.
Wilson is a successful crypto analyst and content writer with many years of writing experience in finance and blockchain fields. His interests are in crypto-asset research and technical analysis, Fintech, Blockchain, DeFi, NFTs, and Personal Finance.