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Rival Dogecoin Shiba Inu token begins trading on Binance.US

By Hannah perez

The second-largest doggy crypto on the market rose 3% after the Binance.US announcement. Will the news be able to propel the price of SHIB to its all-time highs in May?


The rival token of Dogecoin (DOGE), Shiba Inu (SHIB), debuted this afternoon on the platform Binance.US, the US subsidiary of the world’s largest cryptocurrency exchange. The exchange announced the adoption of token through his Twitter account this Wednesday.

SHIB, the second largest cryptocurrency doggy meme by market capitalization, after Dogecoin, is included in Binance.US few days after its listing in Coinbase Pro. The arrival at that exchange at the beginning of the month caused an impressive 30% price increase for Shiba Inu.

After the announcement of integration to the commercial list of Binance.US, the token meme that calls itself the “DOGE killer”Has risen 3% in price, according to data from CoinMarketCap. It is possible that, as has happened on previous occasions, the news will cause a greater increase in Shiba Inu as users of the exchange come to trade the token.

In May, Binance included the token based on Ethereum in its innovation zone, a platform space designed for high-risk operators. The FTX exchange added support for the SHIB around the same time. Likewise, the impersonator of Dogecoin it is also available for trading on other exchanges such as Huobi and Poloniex.

While the most recent listing for the cryptocurrency appears to be having a positive effect on its price, it remains to be seen if this will be the necessary boost to drive Shiba Inu back to its all-time highs, capitalized in May of this year. At that time, SHIB reached prices above USD $ 0.000035 per unit and a capitalization of USD $ 13.83 billion.

The puppy token became very popular, but then its price collapsed when the founder of Ethereum, Vitalik Buterin, gave all the funds SHIB that the responsible team had sent to their account. Despite the fact that the move was made to support projects in the framework of the fight against COVID-19, the measure had a very negative impact on the price of the token.

By the time of editing, Shiba Inu registers a price of USD $ 0.000006782, about 80% below its historical maximum.

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Sources: Twitter, U.Today, file

Hannah Estefanía Pérez’s version / DailyBitcoin

Image from Unsplash

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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