Shiba Inu, the second largest meme coin by market cap, is owned by Binance, the American subsidiary of the world’s largest crypto trading platform. It started trading in the US. Earlier this month, it was listed on Coinbase Pro, which resulted in an impressive 30% price increase. Now SHIB is trading at $0.000006861 with sudden momentum. Here are some details…
Exchanges compete for meme coin
Cryptocoin. com, Binance listed the Ethereum-based cryptocurrency SHIB in an innovative category tailored for traders who prefer high-risk transactions. The rival FTX exchange has also added support for the SHIB token. Now, the Shiba Inu market cap peaked at $13.83 billion on May 10 and is currently trading 80% below that level. On Binance, Shiba remains the key exchange for Inu, with the SHIB/USDT trading pair alone accounting for around 20% of the cryptocurrency’s total trading volume.
SHIB can be traded on Huobi, Poloniex and other exchanges
Dogecoin (DOGE)’s strongest competitor gained immense value with its massive earnings and Ethereum co-founder Vitalik Buterin’s burning of an astonishing $6 billion worth of SHIB tokens after donating $1 billion to a charity. Despite the fact that the Shiba Inu rally is cooling down rather quickly, the latest listing news on some of the world’s largest exchanges suggests it could play into the top 50 cryptocurrencies.