Crypto News - What is Shiba Inu Coin And Why Are Big Exchanges Listing It? - Bitcoin News

Crypto News - What is Shiba Inu Coin And Why Are Big Exchanges Listing It? - Bitcoin News

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At press time, Shiba Inu, SHIB, is the 18th largest 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 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 perhaps Trillions of them, as according to the SHIB token site; "SHIB is an experiment in decentralized spontaneous neighborhood building. These tokens are our very first and the users can hold them in huge amounts."

Moreover, "We burned 50% of the supply to Vitalik Buterin", and "we locked 50% to Uniswap and threw the key away".

In recent days, three of the big cryptocurrency exchanges have noted SHIB on their platforms, equaling the high demand.

In the midst of a crypto boom, Binance, the biggest crypto exchange based upon 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 ran out of ETH deposit addresses today because of SHIB. Never taken place before for any other ERC20 coin.", CZ Binance tweeted.

Following the substantial need on the USDT market, KuCoin also listed the SHIB token on May 10th. The KuCoin listing of SHIB activated a huge trading volume of $100,000,000.

According to OKEx CEO Jay Hao, "we are happy that the SHIB token has been listed on our platform, to open the crypto gateway to lover financiers."

Shiba Inu's experimental spirit is simply what the blockchain and crypto space 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 actually increased by 44% in that duration. It is a meme coin, so trade at your own threat, as this is an NFA.