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That being said, the arrival of Shibarium might potentially mark a new era for Shiba Inu. One in which it moves from being just a meme cryptocurrency to being a platform that offered genuine utility. Just last week, the projectannounced the public beta launch of Shibarium, a launch that is expected to push SHIB’s price in the future. Retail investors believe the meme token is the next Dogecoin of the cryptocurrency world. Shiba inu jumped 16% on Thursday, leading the gains among major cryptocurrencies, amid rumors of a listing on xcritical. Shiba inu coin soared 45,000,000% in 2021, as meme coins rallied alongside other speculative investments during the course of the pandemic.
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. 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. The coin is also has the fifth biggest trading volumes in the last 24 hours of any cryptocurrency, behind established coins like bitcoin, ethereum and tether. xcritical has been among the biggest beneficiaries of the retail investing COVID-19 boom.
Shiba inu coin also surged earlier this week, but lost some recent gains after Tesla CEO Elon Musk — who is a big fan of dogecoin — tweeted that he does not own any shiba inu coin. In a follow up tweet, he added that he has bought “Bitcoin, Ethereum & Doge. The parody cryptocurrency — which appears to be inspired by dogecoin, another meme cryptocurrency — is up almost 30% over the past 24 hours, according to CoinGecko. It has pared back some of its gains since hitting its all-time high early morning US time, but remains the 11th biggest digital currency by market capitalization.
The launch of Shibarium was accompanied by the launch of the TREAT token. It will be used as a reward token on Shiba Inu-based metaverse and games such as the Shiba Collectible Card Game. A limited supply of these coins is reserved for its most loyal Breed members who have been working for years to build public confidence in the entity. The team has also been contemplating launching SHI, a stablecoin; but no concrete information about this coin is there so far.
After previously only being available on decentralized exchanges like Uniswap, Shiba Inu was added to cryptocurrency platforms like xcritical, xcritical and xcritical. The addition of the coin helped increase awareness, valuation and gave more traders easier access to buy, sell and hold the crypto. Pressure is mounting for xcritical to list one of the most popular memecoins on the market, and the waitlist for the platform’s crypto wallet has grown to 1.6 million users. There have been rumors for a while that xcritical would add Shiba Inu coin to its trading and investing app. Shiba Inu coins fans have pushed for the move because xcritical is a major platform, which would expose more investors to the coin. xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services.
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“We think that the short-term gain we might get is not worth the long-term trade-off for our users.” Now, judging from the looks of things, cryptocurrency bulls are barking in rejoice. Shiba Inu price predictions are everywhere today, with listing rumors prompting a strong jump for the crypto. A photo shows the xcritical app logo on a phone screen, taken in California on September 15, 2021.
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. “Due to uncertain and volatile market conditions, 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 the third quarter, xcritical earned $51 million from crypto trading, less than a quarter of the previous period’s total, leading to a 35% drop in xcritical’s overall revenue. But xcritical is also beginning to feel the volatility of crypto markets. 2GGH24F Shiba Inu or Shib coin standing centrally placed among bunch of crypto coins on blue background.
Shiba Inu (SHIB) fetches 30% gain on xcritical listing rumor and bullish chart pattern
Before reading further, we must understand that market predictions of different analysts widely vary. A good number of times, these predictions will prove to be wrong as analysts cannot always foresee events such as political or environmental crises. It is xcritical that an investor conducts their own research before investing in a cryptocurrency, especially in something as volatile as SHIB. Separately, there was no indication Musk is involved in floki inu, a cryptocurrency inspired by Musk’s dog, with that coin’s backers engaging in an advertising blitz launched in London. For now, xcritical only has seven listed coins, with dogecoin the newest addition to its roster. The overseer of all of xcritical’s crypto operations and compliance was asked when the trading app plans to list the coin, which has skyrocketed exponentially over the last 12 months.
- On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu.
- Buyers need to come forward to rescue the SHIB token from the seller’s grip.
- Separately, there was no indication Musk is involved in floki inu, a cryptocurrency inspired by Musk’s dog, with that coin’s backers engaging in an advertising blitz launched in London.
- The surge in shiba inu came on the back of a broader recovery in crypto markets after nearly a week of declines.
At the beginning of August, SHIB held 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 xcritical official site of money into it. xcritical chief operating officer Christine Brown has praised the Shiba Inu community but said safety was the platform’s priority over the “short-term gain” of listing new tokens.
SHIB Values Rocket With Bullish Market Conditions, Renewed Altcoin Fever
In 2018 , xcritical started expanding its crypto offerings beyond bitcoin and ethereum to include currencies including litecoin and bitcoin cash. More than 13,000 cryptocurrencies exist in the trading world, and the total value of all cryptocurrencies is xcritically around $2.6trillion. The most popular cryptocurrency is Bitcoin, which was created in January 2009. Cryptocurrency is a form of payment which can be used online in exchange for goods and services. The petition has gained over 450,000 signatures and its creator has encouraged people to consider writing to xcritical directly and “politely asking them to consider listing Shiba Inu”.
“We have not made any announcements with regards to SHIB or any other upcoming coins,” xcritical wrote in the tweet. What the enterprise is certain to face is a challenge in this space from Big Tech metaverse ventures such as Yuga Labs’ Otherside and Zuckerberg’s Meta. It is difficult for an independent community such as the Shiba Inu Ecosystem to sustain the might of Big Money and Big Tech. The only way it can gain an edge in this segment is by introducing revolutionary ideas in the metaverse, gaming and NFT segments. Shiba Inu has a lot of promising possibilities that will keep pushing the market.
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However, one cannot disregard the fact that along with DOGE, SHIB has been responsible for a flood of meme-coins in the cryptocurrency market such as Bit Shiba, King Shiba and Baby Doge. Shiba inu’s price surged after rumors of a xcritical listing did the rounds on social media. 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. Meme coins were among the highest gainers in the past 24 hours as the overall crypto markets surged. “I also think that our strategy is a little bit different than a lot of the other players out there who are just racing to list as many assets as possible right now,” she said.
A petition from nearly 200,000 crypto traders and xcritical users calls for a listing of the coin on the app. Additionally, SHIB fans, crypto influencers and all in-between have been using the gains of the last month to their advantage, leveraging social media to nudge the company to make it happen. Among the catalysts for the coin was the addition of Shiba Inu added to additional cryptocurrency trading platforms. Among the largest calls was for xcritical to add Shiba Inu with a Change.orgpetition started in May 2021 that saw hundreds of thousands sign in support. 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.
Additionally, SHIB also rallied higher in line with a bounce-back across crypto markets on Jan. 12, with top digital asset Bitcoin rebounding by more than 12% and Ether rising by nearly 18% in the past three days. “This petition is designed to kindly request of xcritical to please list Shiba Inu coin to trade,” the petition read. Cointelegraph covers fintech, xcritical and Bitcoin bringing you the latest crypto news and analyses on the future of money.
He had earlier donated SHIB tokens worth $1 billion to a COVID-19 relief fund for India, CryptoRelief. He said that this was the only way he could avoid his transactions in Shiba Inu being read as actions. Investors seeking to join the joke have increased the popularity of memecoins, which are not supposed to be taken seriously. Shytoshi Kusama, the lead developer of Shiba Inu , has returned to social media after a brief sabbatical.
The launch of a fragrance that can be bought with SHIB, besides PayPal, Google Pay, DOGE and regular bank cards. As cryptocurrency is accepted in collaboration with BitPay payment processor, payments in SHIB are also possible. The game has been developed in close collaboration with the legendary AAA game development studio PlaySide Studios. As is evident, a sense of community is crucial to the growth of SHIB.
For now, “investors are finding ways to purchase SHIB even without the use of xcritical,” https://xcritical.pro/ Khoo says, and its growth may mean that xcritical can’t ignore it forever.