At the time when the whole altcoins market seems to be taking a hit, the popular meme coin SHIB (Shiba Inu) has increased by more than 6% and maintained a bullish stand trading well above a significant price of $0.00003.
Meanwhile, Bitcoin is on a strong bullish momentum as it traded at around $57,600 at one point today. It is also showing strong signs of achieving a new all time high price well over $60,000.
On October 9, SHIB coin was listed on the crypto exchange platform, Bitpanda. Bitpanda promoted this announcement with “One Dog(e) isn’t enough, so now we have two.” It’s clear that these exchanges are utilizing the SHIB momentum to their benefit as well. SHIB has become a widely sought coin after it was listed on Coinbase one month ago and subsequently rising by more than 700% last week. Therefore it’s not surprising for other platforms to list SHIB so as to increase trading volumes and eventually revenues too.
Every day some new important announcement related to SHIB has been circulating. This has fueled SHIB’s growth even more. It’s rumored that the popular trading platform Robinhood will also list SHIB soon. At this point it’s more logical and reasonable to do so and delaying it is definitely a loss for Robinhood because of the coin’s popularity and demand. If this continues, a new ATH of SHIB may not be that far.
Despite having no real utility, the coin has successfully taken a massive spotlight in the crypto world. It’s the only coin with such a low price trading at top 10 in most exchanges. Although the coin has no intrinsic value other than to trade, its trading volume still helps the cryptocurrency market and the crypto adoption. All in all, it’s indeed a good sign for the crypto future.
Crypto Beginning - Bitcoin, Ethereum, Crypto News and Price Updates Newsletter
Join the newsletter to receive the latest updates in your inbox.