Kraken said it will list the Shiba Inu (SHIB) token on November 2, according to a tweet. re has been no update yet, but it seems likely. This would give SHIB more liquidity, a double-edged sword for a meme token.
Kraken exchange is ready to list the Shiba Inu (SHIB) meme token, below posting a tweet on November 1 saying it would include the resource if it had 2000 likes. Sure enough, the tweet did, with nearly 53,000 users liking the tweet and leading the way on the list.
According to the tweet, Kraken Product Lead Brian Hoffman initially raised the challenges that, in all honesty, never seemed to be a problem.
SHIB ads everywhere
SHIB token is expected to go public on November 2, giving even more fuel to a token that has seen rapid price jumps over the past week. SHIB surpassed the other Dogecoin meme token (DOGE) in market capitalization at the end of October 2021 and both cryptocurrencies are now in the top 10 by market capitalization. Shiba Inu’s market capitalization is over $ 38 billion, compared to dogecoin’s roughly $ 35 billion.
Shiba Inu token is something of a legend in cryptocurrency circles, with a strange history. recent all-time high was the culmination of many months of wild trading on the market. Sometimes these price jumps are purely the result of famous people talking about the good stuff, as is the case with Elon Musk.
Read also Stacks explode 57% after Bitcoin NFTs take off
SHIB was created by an anonymous developer and has a huge supply of one trillion. Vitalik Buterin himself received SHIB tokens worth billions of dollars, but he burned 90% and donated the rest to charities.
Will meme tokens be part of the market forever?
cryptocurrency market is one that facilitates mass social movements by its very nature, and outside of bitcoin and ethereum, nowhere has this been more apparent than in meme tokens. Dogecoin was the pioneer token in this regard and has also caught the attention of the general public, with many new investors investing capital.
Shiba Inu is a newer competitor, but growing just as vigorously. concern is that investors will bypass the actual valuation and simply buy for the sake of the rising asset – sheer mania.
Even Edward Snowden has warned against meme tokens, saying that investing in them is likely to result in huge losses for many of those who buy. Anthony Pompliano, a popular cryptocurrency advocate and partner at Morgan Creek, also scorned SHIB, calling the token “dog poop.” poop. “
Disclaimer
All information on our website is published in good faith and for general information purposes only. Any action taken by the reader on the information found on our website is strictly at your own risk.
Source link
more
