Shiba Inu Price Hinges on 0.175 Percent Tick Size
The Shiba Inu price has been hovering around $0.00000571 on Sunday, with a daily range of 1.77 percent. The market data from CoinGecko shows that the price has fluctuated between $0.00000566 and $0.00000576 over the past 24 hours. This means that a single step of the eighth decimal place is 0.175 percent of the price, which is a significant factor in the price movement.
The tick size, or the smallest amount by which a price can change, is 0.175 percent on Shiba Inu. This is because the price display has eight decimal places, making it difficult to set orders to a tenth of a percent. In contrast, Bitcoin has a tick size of 0.0000117 percent, making it much more precise.
The divisibility of the token is also a factor, as the SHIB contract on Ethereum has 18 decimal places, allowing for much finer divisibility than the price display. This can lead to problems with setting stop-losses and limits, as the current price is almost exactly in the middle of its daily range.
Trading activity on Shiba Inu is also lower than on other cryptocurrencies, with a turnover ratio of 1.41 percent. This can make it difficult to execute large orders, as the spread between the bid and the ask can be significant.