Crypto News - What is Shiba Inu Coin And Why Are Big Exchanges Listing It? - Bitcoin News
What is the Shiba Inu Coin - And Why Are Big Exchanges Listing It?
At press time, Shiba Inu, SHIB, is the 18th largest cryptocurrency by market capitalization. SHIB's present market cap is $12 billion. What is the strange Shiba Inu Coin?
Increasing appeal of the coin has actually resulted in it being dubbed a "meme coin" by social networks.
A meme coin, SHIB functions likewise to Dogecoin, DOGE, which is currently the fourth largest cryptocurrency with a market capitalization of $65 billion.
Using a SHIB token, users can hold Billions or even Trillions of them, as according to the SHIB token site; "SHIB is an experiment in decentralized spontaneous community building. These tokens are our first and the users can hold them in substantial amounts."
"We burned 50% of the supply to Vitalik Buterin", and "we locked 50% to Uniswap and threw the crucial away".
In current days, three of the big cryptocurrency exchanges have noted SHIB on their platforms, keeping pace with the high demand.
In the midst of a crypto boom, Binance, the largest crypto exchange based upon market cap, just recently noted SHIB token on its platform.
Although Binance noted 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 ever occurred before 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 triggered a big trading volume of $100,000,000.
According to OKEx CEO Jay Hao, "we are happy that the SHIB token has been noted on our platform, to open the crypto gateway to enthusiast financiers."
Shiba Inu's experimental spirit is simply what the blockchain and crypto area needs, he added, which even more underscored 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.