What is the Shiba Inu Coin - And Why Are Big Exchanges Listing It?
At press time, Shiba Inu, SHIB, is the 18th biggest cryptocurrency by market capitalization. SHIB's current market cap is $12 billion. So what is the strange Shiba Inu Coin?
Increasing appeal of the coin has actually resulted in it being called a "meme coin" by social networks.
A meme coin, SHIB functions similarly to Dogecoin, DOGE, which is currently the 4th largest cryptocurrency with a market capitalization of $65 billion.
Using a SHIB token, users can hold Billions or perhaps Trillions of them, as according to the SHIB token site; "SHIB is an experiment in decentralized spontaneous neighborhood structure. These tokens are our first and the users can hold them in big amounts."
Moreover, "We burned 50% of the supply to Vitalik Buterin", and "we locked 50% to Uniswap and tossed the crucial away".
In current days, 3 of the big cryptocurrency exchanges have actually listed SHIB on their platforms, equaling the high need.
In the midst of a crypto boom, Binance, the biggest 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 ran out of ETH deposit addresses today because of SHIB. Never ever occurred before for any other ERC20 coin.", CZ Binance tweeted.
Following the huge demand on the USDT market, KuCoin also listed the SHIB token on May 10th. The KuCoin listing of SHIB triggered a big trading volume of $100,000,000.
According to OKEx CEO Jay Hao, "we are happy that the SHIB token has actually been noted on our platform, to open the crypto entrance to enthusiast financiers."
Shiba Inu's speculative spirit is just what the blockchain and crypto space requires, he added, which further underscored why the OKEx platform invited them to the platform.
SHIB's high and low in the last 7 days are $0.00000155 and $0.00003532, respectively. Its price has actually increased by 44% because period. It is a meme coin, so trade at your own threat, as this is an NFA.