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 existing market cap is $12 billion. So what is the strange Shiba Inu Coin?
Increasing appeal of the coin has caused it being called 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.
Utilizing 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 structure. These tokens are our first and the users can hold them in big quantities."
Moreover, "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 huge cryptocurrency exchanges have noted SHIB on their platforms, keeping pace with the high demand.
In the midst of a crypto boom, Binance, the biggest crypto exchange based on market cap, just recently listed SHIB token on its platform.
Although Binance listed SHIB, it lacked Ethereum deposit addresses.
" We follow our users. A lot of people wants SHIB, and we ran out of ETH deposit addresses today due to the fact that of SHIB.
Following the substantial need on the USDT market, KuCoin likewise noted the SHIB token on May 10th. The KuCoin listing of SHIB triggered a huge trading volume of $100,000,000.
According to OKEx CEO Jay Hao, "we enjoy that the SHIB token has been noted on our platform, to open the crypto entrance to enthusiast financiers."
Shiba Inu's experimental spirit is simply what the blockchain and crypto area requires, he added, which even more highlighted why the OKEx platform welcomed 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% because period. It is a meme coin, so trade at your own risk, as this is an NFA.
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The Uniswap app can swap all differing kinds of tokens but isn't going to connect to the standard financial network, this means you may’t convert to website USD or Euro or other fiat currencies. (However you can convert to some stablecoins — see Tether earlier mentioned.
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