What is the Shiba Inu Coin - And Why Are Big Exchanges Noting It?
At press time, Shiba Inu, SHIB, is the 18th largest cryptocurrency by market capitalization. SHIB's existing market cap is $12 billion. So what is the mysterious Shiba Inu Coin?
Increasing popularity of the coin has actually resulted in it being dubbed a "meme coin" by social media.
A meme coin, SHIB functions likewise to Dogecoin, DOGE, which is currently the fourth largest cryptocurrency with a market capitalization of $65 billion.
Utilizing a SHIB token, users can hold Billions and even Trillions of them, as according to the SHIB token website; "SHIB is an experiment in decentralized spontaneous neighborhood building. These tokens are our very first and the users can hold them in huge quantities."
Furthermore, "We burned 50% of the supply to Vitalik Buterin", and "we locked 50% to Uniswap and threw the key away".
In recent days, 3 of the huge cryptocurrency exchanges have listed SHIB on their platforms, equaling the high demand.
In the midst of a crypto boom, Binance, the largest crypto exchange based upon market cap, just recently listed SHIB token on its platform.
Although Binance noted SHIB, it lacked Ethereum deposit addresses.
" We follow our users. A lot of individuals desires SHIB, and we lacked ETH deposit addresses today because of SHIB. Never ever happened prior to for any other ERC20 coin.", CZ Binance tweeted.
Following the substantial demand on the USDT market, KuCoin also noted the SHIB token on May 10th. The KuCoin listing of SHIB activated a big trading volume of $100,000,000.
According to OKEx CEO Jay Hao, "we enjoy that the SHIB token has actually been noted on our platform, to open the crypto gateway to enthusiast financiers."
Shiba Inu's experimental spirit is just what the blockchain and crypto space requires, he included, which further highlighted why the OKEx platform invited them to the platform.
SHIB's low and high in the last 7 days are $0.00000155 and $0.00003532, respectively. Its price has increased by 44% because period. It is a meme coin, so trade at your own threat, as this is an NFA.
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