What is the Shiba Inu Coin - And Why Are Big Exchanges Noting 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 mystical Shiba Inu Coin?
Increasing appeal of the coin has caused it being dubbed a "meme coin" by social networks.
A meme coin, SHIB functions similarly to Dogecoin, DOGE, which is currently the 4th biggest cryptocurrency with a market capitalization of $65 billion.
Utilizing a SHIB token, users can hold Billions or perhaps Trillions of them, as according to the SHIB token website; "SHIB is an experiment in decentralized spontaneous community structure. These tokens are our first and the users can hold them in big 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, three of the huge cryptocurrency exchanges have noted SHIB on their platforms, keeping pace with the high need.
In the midst of a crypto boom, Binance, the biggest crypto exchange based on market cap, just recently noted SHIB token on its platform.
Although Binance listed SHIB, it ran out of Ethereum deposit addresses.
" We follow our users. A lot of people desires SHIB, and we ran out of ETH deposit addresses today due to the fact that of SHIB.
Following the huge need on the USDT market, KuCoin likewise noted the SHIB token on May 10th. The KuCoin listing of SHIB set off 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 lover financiers."
Shiba Inu's experimental spirit is just what the blockchain and crypto space needs, 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 actually increased by 44% in that duration. It is a meme coin, so trade at your own threat, as this is an NFA.
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