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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 mysterious Shiba Inu Coin?
Increasing appeal of the coin has actually led to it being dubbed a "meme coin" by social networks.
A meme coin, SHIB functions similarly 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 neighborhood building. 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 essential away".
In recent days, three 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, recently noted SHIB token on its platform.
Binance noted SHIB, it ran out of Ethereum deposit addresses.
" We follow our users. A lot of individuals wants 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 also noted the SHIB token on May 10th. The KuCoin listing of SHIB activated a big 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 gateway to enthusiast financiers."
Shiba Inu's speculative 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 high and low in the last 7 days are $0.00000155 and $0.00003532, respectively. Its price has increased by 44% in that period. It is a meme coin, so trade at your own threat, as this is an NFA.
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