Amid the latest cooldown in the Dogecoin (DOGE) rally after last week’s all-time high, investors are now moving their money to its competitor coins like Shiba Inu (SHIB). Just in the last three day of Dogecoin correction, Shiba Inu (SHIB) has gained 2100% with its market cap shooting from $35 million on May 7 to a massive $13 billion as of date.
SHIB has entered into the top-20 crypto-list with its massive price surge. Just like Dogecoin, SHIB is also a “meme coin” and an Ethereum-based ERC-20 token which was started as an experiment to create a decentralized economy. This is the first token listed and incentivized for using the decentralized exchange ShibSwap.
Well, this has caught the attention of crypto exchanges who have been rushing to list the native cryptocurrency of the Shiba Inu network. On Monday, May 10, crypto exchange Binance announced that it will be listing the SHIB coin in the Innovation Zone with trading pairs SHIB/BUSD and SHIB/USDT. In a warning to investors, Binance noted:
SHIB is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility after the Binance listing. Please ensure that you exercise sufficient risk management, have done your own research in regards to SHIB’s fundamentals, and fully understand the project before opting to trade the token.
OKex Joins Binance In Shiba Inu (SHIB) Listing
World’s leading crypto and spot derivatives exchange OKEx announced listing the SHIB coin on its platform. Deposits for SHIB were started over the weekend on OKEx. Besides, the native token of the SHIBA Inu network can now be traded on the OKEx spot and perpetual swaps market. OKEx CEO Jay Hao said:
“We are pleased to welcome Shiba Inu to the OKEx platform. I appreciate their experimental spirit, which is exactly what the blockchain and crypto space needs. As an exchange, we are delighted to be able to offer a diverse portfolio of cryptocurrencies, including memetic tokens, to allow a comprehensive investment experience for our valued customers. The Shiba Inu community has been gaining strong momentum from the weekend deposits, and we look forward to witnessing its robust development. We are happy to be the first major exchange to offer SHIB to open the crypto gateway to these enthusiasts”.