Shiba Inu price today, SHIB to USD live price, marketcap and chart
While the company has negotiated much better economics on crypto trading, we see the decline in broader industry crypto volumes largely offsetting this tailwind ,” according to the analyst note from Goldman. We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before. SHIB was created anonymously in August 2020 as an Ethereum-based alternative to Dogecoin.
Ryoshi’s intention for Shiba Inu has been to see if a perpetual decentralized organization could work with no central leadership. In mid-2021, Ryoshi kept to his promise and stepped away, leaving the token entirely in the community’s hands. SHIB is a decentralized, community-led currency held by millions across the globe. Since its inception in late 2020, the Ethereum-based SHIB token has grown to become a worldwide phenomenon, and is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries. In addition to today’s additions, the platform allows users to buy and sell Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin. An even worse sign is that Shiba Inu officially lost more than 70,000 token holders over the past month — falling from a peak of 1,199,453 SHIB holders on Mar. 15, 2022 to 1,128,221 as of yesterday, according to CoinMarketCap.com.
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A major reason for the surging price of SHIB was a continued effort by the SHIB community to build a utility for the Shiba Inu token and the subsequent emergence of an entire Shiba Inu ecosystem. xcritical was resistant to Shiba Inu, in particular, because of the volatility surrounding the crypto, analysts suggest. Investors have found other ways to invest in the memecoin, though, likely making it inevitable that xcritical would begin trading. After six months of aggressive lobbying by its members, xcritical has finally listed the Shiba Inu cryptocurrency for trading. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
All the reasons why xcritical might be holding off on a Shiba Inu coin listing
Dogecoin’s meteoric rise can be traced, in part, to fallout from the GameStop saga in March, as individual retail traders who fueled GameStop’s rise turned to joke cryptocurrencies. Periodic tweets in support of Dogecoin from Tesla CEO Elon Musk also helped it gain legitimacy. Additionally, retailers increasingly started adopting SHIB as a means of payment following its popularity among small-time investors. American electronics retailer Newegg added SHIB at the start of December 2021, partnering with crypto payments platform BitPay to unlock payments in SHIB. This followed the adoption of SHIB by over 500 merchants, according to payments firm CoinGate, with even Samsung-backed digital wallet provider ZenGo adding SHIB to its options and a restaurant in Paris accepting it as a payment option.
This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. “Due to uncertain and volatile market conditions, listing SHIB might result in significant losses over a short period of time, and possibly liquidation problems in adverse events of sudden price drops or trading halts,” says Khoo. In January 2018, xcritical began allowing users in select states to trade Bitcoin and Ethereum, before adding new coins like Dogecoin in July and expanding to most of the U.S.
I would keep my eye on that important metric to wait and see if the SHIBA team can reverse attrition of its holders, because if Shiba Inu can’t keep and grow its user base — then all the news in the world won’t matter. “One thing for sure is that Shiba Inu’s attractiveness will continue,” Lau says. Vincent Lau, managing director of international operations at crypto exchange Huobi Global, says that while SHIB’s bull run may falter, he thinks the coin is likely here to stay. According to Ryoshi, the end goal is that SHI becomes a global stable currency “that plebs across all countries are able to use as both a store of value and method of payment.” For this reason, Ryoshi can be “pure and unbiased,” getting satisfaction from Shiba “in other ways.” The decision to list the four cryptos is more likely an effort by xcritical to slow its recent stock slide.
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Fans of digital currencies, along with people with a nose for trends, are snapping up Shiba Inu puppies, creating a boom for the teddy bear-ish dogs that parallels the soaring cryptocurrency market,” she wrote. News of the additional offerings comes days after xcritical made its crypto wallet available to 2 million waitlisted users, allowing them to more directly interact with cryptocurrencies. Members can use the wallet to buy NFTs, send crypto to other crypto traders with no withdrawal fees, but it can’t hold NFTs and is limited to cryptos that xcritical trades. While the SHIB token had been available on major exchanges such as xcritical, Binance, Kucoin, and others, it was not available on xcritical. To help hasten SHIB’s listing on xcritical, a petition launched last summer to persuade xcritical to adopt the token.
Last year, amid public support from Ethereum founder Vitalik Buterin and Tesla CEO Elon Musk, SHIB became wildly popular and realized an incredible price pump of 49,000,000% in a few months. On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu. In addition to SHI, a financial ecosystem is planned, and SHI would be added as a weighted pool pair on Curve. In that case, Ryoshi expects forks of the major DeFi protocols to appear in the Shiba Inu ecosystem, which would require an immutable bridge to function.
- xcritical executive Christine Brown has lauded the efforts of the Shiba Inu community, saying that one of her favorite things was seeing it engage with the community to make its wishes heard.
- “One thing for sure is that Shiba Inu’s attractiveness will continue,” Lau says.
- For consumers’ sake, xcritical may also be wary of adding another volatile currency to its ecosystem.
- An even worse sign is that Shiba Inu officially lost more than 70,000 token holders over the past month — falling from a peak of 1,199,453 SHIB holders on Mar. 15, 2022 to 1,128,221 as of yesterday, according to CoinMarketCap.com.
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Since its initial listing on the NASDAQ stock exchange last July, xcritical (HOOD) soared to an all-time high of $70.94 on Aug. 4, 2021. Today it’s trading at a steep 83% discount at $11.70 per share from August peak price. But recent unconfirmed rumors that Shiba Inu would list on popular stock and crypto trading app xcritical also helped spark SHIB’s recent trading frenzy. Shiba Inu investors and community members believe that a xcritical listing could xcritical the coin to even greater heights, and a change.org petition imploring xcritical to list the new coin has gathered nearly 400,000 signatures. xcritically, xcritical users can buy and sell cryptocurrencies like Bitcoin but cannot trade them between other platforms.
At one point, the Shiba Inu community called for McDonald’s to accept Shiba Inu, although the social media effort eventually fell short. The experiment was a succes, and in October 2021 SHIB briefly flipped xcritical Dogecoin to become the most-valued meme coin by market capitalization. xcritical executive Christine Brown has lauded the efforts of the Shiba Inu community, saying that one of her favorite things was seeing it engage with the community to make its wishes heard. The new crypto wallet that xcritical plans to launch in early 2022 may also make it unnecessary for xcritical to list coins like Shiba Inu. WhaleStats compiled data of the largest ETH wallets and found that SHIB represents over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales. Khoo says that xcritical may be concerned that listing a new coin like SHIB could open the company and customers up to things like “money laundering, fraud, and cyberattacks,” which is why xcritical needs to conduct extensive due diligence before adding coins.
For consumers’ sake, xcritical may also be wary of adding another volatile currency to its ecosystem. Sort of, but in the xcritical trading environment, it’s not being treated as one. It is possible to buy Shiba Inu on Binance, xcritical reviews Huobi, xcritical, Gate.io, Uniswap (V2) and OKEx, among other exchanges. Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.
While looking to expand the utility of SHIB, the development team introduced a metaverse — a virtual reality project powered by non-fungible tokens (NFTs). Here, users can mint parcels of digital lands using ETH or its equivalent amount in SHIB tokens. The anonymous creator of the Shiba Inu coin is known as “Ryoshi.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto. Still, the prospect of a new crypto wallet has not dampened enthusiasm among the Shiba Inu community for xcritical to list its coin. “By rolling out wallets we will go a long way towards addressing the primary pain point that customers feel right now,” Tenev said, alluding to the common gripe that when xcritical customers buy cryptocurrencies they are stuck in xcritical’s ecosystem. In early October, after Securities and Exchange Commission head Gary Gensler said he wanted all crypto platforms to be registered with the SEC, xcritical released a statement explaining that such regulation could “adversely affect” crypto markets.