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Shiba Inu: Why Binance, KuCoin, OKEx Lists SHIB Token?




SHIB, which is a “meme coin” is currently the most trending coin in the top 100 cryptocurrency list. SHIB token is the 18th largest cryptocurrency in terms of market capitalization. At press time the market cap of SHIB is $12 billion.

Basically, SHIB is also a meme coin just like Dogecoin [DOGE] which is currently the 4th largest cryptocurrency with a market cap of $65 billion.

As per the official website of SHIB token, “SHIB is an experiment in decentralized spontaneous community building. SHIB token is our first token and allows users to hold Billions or even Trillions of them.”

Also, “We locked the 50% of the total supply to Uniswap and threw away the keys! The remaining 50% was burned to Vitalik Buterin“.

Three popular big cryptocurrency exchanges list SHIB on their platform in recent days amid high demand. And crypto exchanges don’t leave any opportunity to miss the hype.

Yesterday, Binance the largest crypto exchange by market cap listed SHIB token on its platform.

Even after listing SHIB, Binance ran out of ETH deposit addresses. CZ Binance tweets, “Some have voiced concerns about SHIB listing. We follow users. There is a large number of users demanding it, to the point where we ran out of ETH deposit addresses due to SHIB today. Never happened before for any other ERC20 coin.”

KuCoin also listed the SHIB token on May, 10th following the huge demand by users in the USDT market. Soon after getting listed on KuCoin the 6hr trading volume of SHIB breaks $100,000,000.

OKEx cryptocurrency exchange too listed SHIB token following demand. “We are happy to be the first major exchange to offer SHIB to open the crypto gateway to these enthusiasts,” said OKEx CEO Jay Hao.”

He also said, “We are pleased to welcome Shiba Inu to the OKEx platform. I appreciate their experimental spirit, which is exactly what the blockchain and crypto space needs.”

The 7 days low and high of SHIB is $0.00000155 and $0.00003532 respectively. Just see the percentage increase in the price. But at the last, this is a meme coin so trade at your own risk and this is NFA.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.