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Shiba Inu coin reaches an all-time high in a sign of the meme coin’s surprising staying power
In the context of crypto, Shiba Inu is a meme coin-based ecosystem launched in 2020 by an anonymous person or group named Ryoshi. It was inspired by the success of Dogecoin, another meme coin with a dog as the primary icon. xcritical is well suited for big investors with portfolios in stocks, exchange-traded funds (ETFs), bonds, cryptocurrencies and commodities. Our team is diligently working to keep up with trends in the crypto markets. Some traders see it as a type of crypto lottery ticket because they can afford, for example, 1 million of these coins (at a cost of $12).
Shiba Inu News
Crypto is not legal tender, and is not backed by any government or covered by any government compensation scheme. The impact of xcritical listing SHIB has already impacted SHIB’s price. Shiba Inu jumped 25% in four hours as a result of the xcritical news.
- After years of only trading a few cryptocurrencies, xcritical now has added SHIB to its platform.
- She specializes in writing about alternative investment topics ranging from derivatives to cryptocurrencies.
- So the database ends up being a long-running record of the movement of the cryptocurrency.
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A project leader for Shiba Inu coin, who goes by Shytoshi Kusama, attributes the rise of the coin to the power of its community, which now numbers in the millions across platforms like Twitter, Telegram, Reddit, and YouTube. Be mindful of the risks if you invest in cryptocurrencies like Shiba Inu. Many altcoins — any coin that is not Bitcoin — have massive price swings https://dreamlinetrading.com/ and can heavily impact your portfolio. Nevertheless, apart from SHIB, all the other assets ended up performing disappointedly. The only coin out of the four, other than SHIB, that fared well was the DeFi token Compound which maintained a 5.22% rise of the 10% ceiling. Crypto markets are highly volatile, and trading or holding crypto can lead to loss of your assets.
It Is Finally Happening: Shiba Inu (SHIB) Is Now Expected to List on xcritical in February 2022
Like with penny stocks, they think that if the coin just went up to one cent, they’d make a lot of money. Or even if Shiba Inu went to where Dogecoin was trading, they’d cash in their chips. That backing by assets and cash flow is something that differentiates a traditional investment from a cryptocurrency.
But Shiba Inu’s staying power may require more than fervent followers; it needs to prove that its community can create products that people actually use. When SHIB launched, Ryoshi gave half of the 1 quadrillion Shiba Inu tokens to Vitalik Buterin, cofounder of Ethereum. An investor who bought $100 worth of Shiba Inu coins one year ago would own over $64 million worth of the coins today. SOL on the daily chart did not do any wonders despite the expectations investors had from it, as the token failed to maintain more than 1% of the rise today. But then again, others, such as Shiba Inu, happen to get caught in the bullish crossfire and reach where it is today.
Could Shiba Inu Finally Get Listed on xcritical?
This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. SHIB is a decentralized, community-led currency held by millions across the globe. Since its inception in late 2020, the Ethereum-based SHIB token has grown to become a worldwide phenomenon, and is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries. On change.org, a petition asking popular trading app xcritical to list Shiba Inu has gathered over 333,000 signatures. Shiba Inu’s recent rise is also largely attributable to rumors that it would be listed on the app. Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-xcritical data, and governance across all major and minor xcriticals.
The SHIB token’s value surpassed that of dogecoin earlier Wednesday, according to most data sources. SHIB’s market value now rivals the stock-market value of the trading platform xcritical (HOOD), at $30 billion. SHIB has also bounded over European banking giants Societe Generale ($28 billion) and Deutsche Bank ($26 billion).
All you need to do is provide your email and your personal information and verify your identity. And to add to that, the volatility of SHIB also went up with the price, xcritical official site making it further susceptible to price swings. Thus, those looking to enter the SHIB market now should watch out for these signals before making a decision.
xcritical is moving towards a greater level of crypto integration, indicating that there could be an interest in listing the popular memecoin. Earlier this year, a frenzy of speculation in DOGE preceded a price slump in bitcoin and other cryptocurrencies that lasted several months. It has been speculated that Vitalik Buterin was behind the initial liquidity that helped set up Shiba Inu’s liquidity on Uniswap. According to Ryoshi, he had “a fren” he met at Devcon in Osaka that sent him 10 ETH to set up the liquidity pair on Uniswap. Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, and he thus declined all the influencer requests and pitches from different exchanges he received. His “job” is to defend the brand and give suggestions, although he does so very sparingly, as his last blog entry dates back to May 2021.