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 present market cap is $12 billion. So what is the strange 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 presently the 4th biggest 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 structure. These tokens are our first and the users can hold them in huge amounts."
"We burned 50% of the supply to Vitalik Buterin", and "we locked 50% to Uniswap and tossed the crucial away".
In current days, three of the big cryptocurrency exchanges have actually noted SHIB on their platforms, equaling the high demand.
In the midst of a crypto boom, Binance, the biggest crypto exchange based on market cap, just recently noted SHIB token on its platform.
Binance listed SHIB, it ran out of Ethereum deposit addresses.
" We follow our users. A great deal of people wants SHIB, and we lacked ETH deposit addresses today because of SHIB. Never occurred prior to for any other ERC20 coin.", CZ Binance tweeted.
Following the huge need on the USDT market, KuCoin also listed the SHIB token on May 10th. The KuCoin listing of SHIB set off a huge trading volume of $100,000,000.
According to OKEx CEO Jay Hao, "we enjoy that the SHIB token has been listed on our platform, to open the crypto entrance to lover financiers."
Shiba Inu's experimental spirit is just what the blockchain and crypto space needs, 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% in that duration. It is a meme coin, so trade at your own threat, as this is an NFA.
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