Shiba Inu (SHIB) has been listed on three different cryptocurrency exchanges in the past 48 hours and has gained 966 percent in the same time frame. The currency rose to 18th place in the market value ranking.
The new listing decisions for the currency listed on the Binance exchange on May 10 and referred to as the “Dogecoin Killer” surprised everyone.
Moreover, the fact that 50 percent of the SHIB token supply was in one address made Binance’s decision to list this token immediately, making it even more surprising.
The Shiba team sent 50 percent of the 1 quadrillion token supply to Vitalik Buterin, the developer of Ethereum, with the aim of decommissioning. The other 50 percent was sent to the Uniswap application to provide liquidity. In doing so, the developers claim that they have created a decentralized token whose fate will be determined only by the market.
Binance founder and CEO Changpeng Zhao spoke about Shiba Inu on Monday and told the Twitter audience that the exchange is only acting on user demand. Zhao said that there was a very high demand for SHIB transactions and Binance’s deposit addresses for Ethereum-based tokens have been exhausted. told:
“There are those who raise concerns about the SHIB listing. We are fulfilling users’ requests. Today our ETH deposit addresses are full due to SHIB. There are more users requesting. No such thing has ever been seen in any other ERC20 currency.”
He finished his message, “I don’t approve. Super high risk. YTD.”
Shiba Inu; It was introduced after the rise of Dogecoin (DOGE). Like Dogecoin, Shiba Inu is based on the internet joke referring to the Shiba Inu breed dog. Also, like Dogecoin, Shiba woke up after months of inactivity and rose to an all-time high on April 20 (i.e. 4/20), the same day Dogecoin hit an all-time high of $ 0.420.
According to the statement in “woofpaper”, the technical article of the project, it is said that the decentralized exchange (DEX) will be created, where SHIB holders can exchange their tokens and perform yield farming. The stock exchange is currently in the process of “security testing, auditing and last update” according to the project website.
In addition to Binance and FTX exchanges, the OKEx exchange also decided to list it. With the press release on Tuesday, it was announced that the Shiba Inu transactions had started.