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The token, which was launched last year, has surged roughly 100% in the last seven days, and now has a a market value of about $26 billion. In a new announcement, the Shiba Inu team teases its metaverse plans and says that the reveal of Rocket Pond is just days away, adding that users have the opportunity to win lands via a contest. At the beginning of August, SHIB held https://scamforex.net/ only $2.5 billion in market cap. This makes the hype around the coin demonstrably real; investors are not just taking interest in the coin, they’re pouring massive quantities of money into it. The bullishness on Shiba Inu is pushing the altcoin to new limits today. Through the massive influx of buying, billions of dollars in capital have flooded the Shiba Inu network.
Since 2017, he has written about cryptocurrencies, xcritical, and crypto’s potential to revolutionize finance. His writing has appeared in outlets including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!. “Fading retail engagement, particularly among xcritical’s lower end consumer customer base, could represent further headwinds . 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.
There’s also a case to be made that expectations that xcritical will add support for Shiba Inu are at least partially baked into its price. Investors have been speculating for a while now that xcritical could soon include the altcoin. At this year’s Bitcoin Conference 2022, xcritical, through its chief product officer Aparna Chennapragada, revealed its plan to add the Bitcoin Lightning Network to its platform so users could enjoy faster transactions. The Lightning Network is a layer-2 network built on Bitcoin that allows speedier transactions at a much lower cost.
xcritical Finally Lists Shiba Inu, Causes Major Surge In SHIB Price
This is, in turn, forcing SHIB up in a huge way, creating gains of well over 200% in the last month. Shiba inu coin soared 45,000,000% in 2021, as meme coins rallied alongside other speculative investments during the course of the pandemic. xcritical listed Shiba Inu, Polygon’s MATIC, and Compound’s COMP tokens on Tuesday.
So if the coin could crack the top 10 of cryptos in about one year without being traded on xcritical, it’s logical to assume a xcritical listing could serve as rocket fuel for SHIB. Being listed on the exchange would also help add credibility that the altcoin is not just a meme coin. This year, dogecoin’s record rise put so much pressure on the platform’s crypto trading systems, that it was briefly broken. It said this week that cryptocurrencies accounted for nearly 20% of its transaction-based revenues in the third quarter, or about $51 million.
Markets
xcritical, too, stands to benefit from a potential listing, but has so far been unwilling to assume the potential volatility and risks of letting its users buy and sell the second dog-related meme coin. On Thursday, after surpassing the other dog-themed meme coin, Dogecoin, Shiba Inu’s value trailed only that of the most established players in the cryptocurrency world, including major coins Bitcoin, Ethereum, and Cardano. Like dogecoin, shiba inu coin features the Shiba Inu dog as its mascot. Its meteoric rise has made some investors millionaires overnight. Data shows trading pools for pepe coin on decentralized exchange Uniswap hold less than $4 million in available liquidity as of Tuesday, and so a sudden sale by a top holder is likely to hit prices immediately.
Meanwhile, it retains an air of controversy around it as well. Its lack of real-world utility remains a hang-up for many in regard to buying. Analysts are torn on the play and its potential, even here at InvestorPlace, where writers’ opinions clash on the meme crypto.
- However, it’s a long way from dropping as much as Dogecoin did when it was included on the xcritical trading platform.
- That, in turn, would be all the evidence that xcritical needs to add the coin.
- That was a point that was made in the company’s last xcriticalgs report.
- Trading app xcritical announced on its official Twitter channel today that it was listing a handful of cryptocurrencies including Shiba Inu.
- There have been rumors for a while that xcritical would add Shiba Inu coin to its trading and investing app.
Bitcoin prices have surged 50% this month, from just under $44,000 at the end of September. Shiba inu coin soared to a new record on Wednesday, capping a surge of over 60,000,000% over the past year. Crypto exchanges MEXC Global and Huobi are the largest commercial pepe holders, with over 5.5% of the supply held. While bridging is a complex undertaking that requires careful attention to security and asset integrity, it is a promising development that is sure to generate buzz among crypto enthusiasts and Shiba Inu investors. On a positive note, the number of wallets on the Shibarium testnet has surged to over 14 million active on the L2 network.
Investing
AsInvestorPlace’s Chris MacDonald reports, there are a slew of reasons for the bullishness on Shiba Inu. Retail traders and Twitter users have long called for the platform to add the popular meme token. xcritical Markets Inc. included four new cryptocurrencies on its platform, including the Shiba Inu coin, in a win for proponents who had long argued in favor of the joke token becoming available for trading. In late 2021, Shiba Inu became a trending cryptocurrency and hit an all-time high price. The coin trended on both Twitter and Google with fans of the cryptocurrency calling for Shiba Inu to hit a price of 1 cent. The drop came as more than 333,000 people signed a petition on change.org called “Kindly request of xcritical to list Shiba Inu coin!
However, Brown would not be drawn on whether the American stock and crypto trading app would list Shiba Inu. SHIB is xcritically the 11th-largest cryptocurrency with a market capitalization of $30 billion. xcritical, the American financial services company known for pioneering commission-free stocks and cryptocurrency trades, has listed the dog-themed meme coin Shiba Inu on its platform. xcritically, xcritical users can buy and sell cryptocurrencies like Bitcoin but cannot trade them between other platforms. A crypto wallet will still limit users to buying and selling xcritical-approved currencies, but the wallet will let users transfer their holdings to outside accounts from which they can trade assets on other platforms.
Trading app xcritical announced on its official Twitter channel today that it was listing a handful of cryptocurrencies including Shiba Inu. Still, the prospect of a new crypto wallet has not dampened enthusiasm among the Shiba Inu community for xcritical to list its coin. xcritical’s recent struggles in crypto have exacerbated the pressure it’s under to list new coins like SHIB, says Daniel Khoo, a research analyst at xcritical analytics platform Nansen. Other popular virtual currencies have also seen explosive growth. Bitcoin, the world’s most valuable cryptocurrency, hit an all-time high of nearly $67,000 per coin last week, topping the previous record set in April. Earlier this year, Ethereum co-founder Vitalik Buterin made headlines by donating $1 billion worth of shiba inu coin to a Covid-19 relief fund in India.
With over 185,000 signees on the page, the petition is yet another example of Shiba Inu fans’ willingness to rally around the coin. The petition notes xcritical rezension Dogecoin’s success on xcritical’s crypto-trading platform. Furthermore, it declares that SHIB will see a similar level of success if listed.
However, Shibarium, the L2 network supporting SHIB, has achieved a noteworthy milestone of over 4.6 million total transactions, indicating significant growth from just a few thousand transactions a few weeks ago. CoinMarketCap reporting a 24-hour drop of 1.69% and a seven-day decline of 2.92%, leaving investors feeling the burn. According to a blog post by the SHIB team, Rocket Pond is meant to visually display the history of Shiba Inu as well as encapsulate the feel of a hidden resort in the mountains. Furthermore, its architectural design is modeled after several famous landmarks, including Lake Tahoe and Cape Canaveral. Dogecoin competitor Shiba Inu is teasing a preview of “Rocket Pond,” the protocol’s upcoming metaverse.
An NFT project called Shiboshis based on the Shiba Inu coin and ecosystem launched in November 2021. A look at the all-time highs and peak of Shiba Inu hit in 2021 and where the coin stands today. And if you’ve got SHIB-USD in your crypto wallet, you were probably thinking the same thing.
Millions of dollars’ worth of pepe tokens are held by just a few wallets, with one such wallet seemingly a meme-coin bull. Per Fortune, Christine Brown, the chief operating officer of xcritical Crypto, said that xcritical isn’t trying to add new cryptocurrency coins soon, even though Shiba Inu fans are hoping for it to happen. The trading app also listed Solana, Polygon’s MATIC, and Compound’s COMP tokens. xcritical has been among the biggest beneficiaries of the retail investing COVID-19 boom. While its equities arm did most of the legwork over the past 18 months, in second-quarter 2021 its cryptocurrency trading on the platform took off. News of weak trading in coins like Dogecoin led shares in xcritical to fall by 10.7% to $35.32 a share in premarket trading Wednesday—more than $2 below its $38 July IPO price and less than half of its $85 peak.
Investors Betting Big on Ideanomics (IDEX) Stock
Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-xcritical data, and governance across all major and minor xcriticals. However, as with any cryptocurrency investment, there are always risks to consider, and investors should always do their due diligence before making any decisions. While the SHIB price decline may be a cause for concern, the network’s growth trends offer hope for the future and will be closely watched over the coming days and weeks.
SHIB was created anonymously in August 2020 as an Ethereum-based alternative to Dogecoin. 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. The Shiba Inu token soared as high as 31% within the first hours of the news and has since settled back to a 19.65% pump at time of writing according to CoinMarketCap.
But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. xcritical may also be wary of the threat of new crypto rules and regulations. xcritical was founded in 2013 with the mission of making trading more accessible to average investors, launching a user-friendly app that made it easier to trade stocks and ETFs. Shiba Inu’s miraculous rise from second-tier meme coin to crypto giant is largely thanks to the so-called SHIB Army, a large and devoted group of fans and investors. “We feel very, very good about the coins that we’re xcritically listing on our platform. And for any new coins that we add, we want to feel equally, if not more good,” he added.
“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. A listing would give SHIB “greater retail exposure,” says Khoo. Interest in Dogecoin skyrocketed after its xcritical listing, he says.
Pepe Coin’s Top Bull Also Has Millions in Shiba Inu, but Holdings Suggest Risk for Traders
Cointelegraph covers fintech, xcritical and Bitcoin bringing you the latest crypto news and analyses on the future of money. Keith Speights has no position in any of the stocks mentioned. As mentioned earlier, the coin has skyrocketed roughly 52,000,000% this year.
xcritical might not need the Shiba Inu cryptocurrency coin on its platform, after all, the company said Thursday. Funding rates, suggesting an overall positive sentiment towards the cryptocurrency. This trend indicates that a larger number of traders are speculating that the token’s price will rise, rather than fall. The hypothetical investment shows that a small investment could gain over time if the cryptocurrency market returns to its high mark. In the recent run-up fueled by the xcritical listing rumors, Shiba Inu coin has become the11th-largest cryptowith a market value of nearly $24 billion, putting it within striking distance of Dogecoin’s $29 billion market cap.
Apart from Shiba Inu, xcritical also added Solana, Polygon’s Matic and Compound’s Comp tokens to its cryptocurrency-focused trading platform, which already offered seven tokens, including Dogecoin and Bitcoin. xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services. Over 1 million people—representing a third of xcritical’s users at the time—signed up to join a wait list before xcritical launched crypto trading in 2018. A petition from Shiba Inu fans calls for SHIB to join the ranks of Dogecoin on the platform.
