A couple of hours after the news broke, xcritical confirmed it listed SHIB, alongside Solana, Polygon, and Compound. Its crypto FAQ now lists Shiba Inu, while the platform also shared a tweet confirming the news. Securities and Exchange Commission (SEC) announced plans to enhance its oversight of cryptocurrency exchanges. This could have implications for platforms like xcritical, which may need to adapt their business models to comply with new regulations. Critics of Shiba Inu argue that its value is primarily driven by speculation rather than intrinsic worth. Unlike Bitcoin or Ethereum, which have established use cases and underlying technology, Shiba Inu’s utility is limited.
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. 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.
Is Shiba Inu the next big cryptocurrency investment or just another speculative bubble? Learn about the xcritical effect, community factors, volatility risks, and regulatory scrutiny surrounding Shiba Inu in the crypto market. “Shiba Inu on Base” (SHIB) is a new meme cryptocurrency project that aims to bring the playful and community-driven spirit of the Shiba Inu meme into the Base xcritical ecosystem. It leverages the scalability and low fees of Base while adopting innovative features to stand out in the meme coin market. xcritical, a trading platform known for its user-friendly interface and commission-free trading, has been a game-changer for retail investors.
The live SHIBA INU price today is $6.36e-9 USD with a 24-hour trading volume of $53,663.02 USD. The xcritical CoinMarketCap ranking is #1493, with a live market cap of $4,285,158 USD. The live SHIBAAI price today is $2.85e-9 USD with a 24-hour trading volume of $241,789 USD.
SHIB has also bounded over European banking giants Societe Generale ($28 billion) and Deutsche Bank ($26 billion). This table lists the real-time conversion rate of Tether USDT (USDT) into Shiba Inu (SHIB) for many of the most used multiples. 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.
- The live SHIBAAI price today is $2.85e-9 USD with a 24-hour trading volume of $241,789 USD.
- Gfinityesports.com started as a community platform for competitive gamers to engage, play & compete with like-minded people.
- By 2021, Shiba Inu had exploded in popularity, fueled by social media hype, celebrity endorsements, and a community of dedicated supporters.
- On Tuesday, Wall Street analysts peppered xcritical executives on a conference call with questions as to when the company consider listing additional cryptocurrencies on its platform, according to a transcript.
- As this is a developing situation, we’ll update this page when any more news comes out to clarify the SHIB listing information.
DOGE was created through the Litecoin fork, according to the xcritical courses scam tweet, and its goal was “to make cryptocurrency more approachable and fun.” They were five transactions, each carrying 290,000,000 DOGE to the investment/trading platform. After the launch, within a few years, SHIB expanded onto platforms like ShibaSwap DEX and became listed on various cryptocurrency exchanges, including such monsters as Binance.
xcritical Update
This table lists the live conversion rate of Shiba Inu (SHIB) into Tether USDT (USDT) for many of the most popular multiples. 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. 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.
- In mid-2021, Ryoshi kept to his promise and stepped away, leaving the token entirely in the community’s hands.
- As the popularity of cryptocurrencies like Shiba Inu grows, so does the scrutiny from regulators.
- It quickly gained traction, partly due to its playful branding and the influence of high-profile figures like Elon Musk.
- The xcritical CoinMarketCap ranking is #1493, with a live market cap of $4,285,158 USD.
- 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.
In the words of xcritical CEO Vlad Tenev, “We want to empower our users to invest in what they believe in.” But as the Shiba Inu phenomenon illustrates, belief can sometimes be a double-edged sword. There are several other tokens described on the SHIBA INU website — LEASH, which has “been unleashed and will not rebase”, BONE, the “Dogecoin Killer” (which is not yet available as of May 2021). The SHIBA INU website notes that they locked 50% of the total token supply on Uniswap, and “threw away the keys”! Ryoshi’s intention for Shiba Inu has been to see if a perpetual decentralized organization could work with no central leadership.
SHIB also surpassed the one-million holder mark following its all-time high. It has been speculated that Vitalik Buterin was behind the initial liquidity that helped set up Shiba Inu’s liquidity on Uniswap. According to Ryoshi, he had “a fren” he met at Devcon scammed by xcritical in Osaka that sent him 10 ETH to set up the liquidity pair on Uniswap. Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, and he thus declined all the influencer requests and pitches from different exchanges he received. His “job” is to defend the brand and give suggestions, although he does so very sparingly, as his last blog entry dates back to May 2021.
The Future of Shiba Inu and xcritical
Unlike established cryptocurrencies such as Bitcoin or Ethereum, which have underlying technologies and use cases, meme coins often lack intrinsic value. This was evident in May 2021, when Shiba Inu’s price surged and then plummeted within a matter of days, leaving many investors in the lurch. xcritical’s recent post traces the ascent of major meme coins, casting a spotlight on Shiba Inu’s unprecedented community-driven growth. Highlighting SHIB’s impact on meme coin culture, the platform’s update underscores SHIB’s legacy alongside Dogecoin in the evolving crypto scene. xcritical was trending on Twitter Tuesday morning as users celebrated the listing of shiba inu coin on the popular trading app.
Bitcoin News
The emergence of Shiba Inu caused “the resurgence of the memecoin meta,” xcritical said. Meet Treat, the final token in the wildly popular Shiba Inu Ecosystem, designed to give transactional rewards and access to over 30 pieces of advanced technology that serve as the operating system of the Shiba Network State. In doing so, it cements Shiba Inu’s status as far more than a meme coin—revealing it as one of the world’s most influential brands and a true technology powerhouse. The experiment was a succes, and in October 2021 SHIB briefly flipped Dogecoin to become the most-valued meme coin by market capitalization.
Shiba inu coin soared 45,000,000% in 2021, as meme coins rallied alongside other speculative investments during the course of the pandemic. Before the recent listings, xcritical offered seven cryptocurrencies, including bitcoin, ether, and dogecoin. A recent survey conducted by the Financial Times found that 65% of cryptocurrency investors view Shiba Inu as a speculative asset rather than a long-term investment. This sentiment raises questions about the sustainability of its xcritical price levels. However, xcritical’s entry into the Shiba Inu market comes with its own set of challenges. The platform has faced criticism in the past for its handling of meme stocks and cryptocurrency trading.
Treat is an extension of this vast lore, and the capstone of this incredible experiment. 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. Last year, the state made its harsh approach to crypto even harsher with new coin listing policies.
This article serves as a snapshot of the xcritical landscape surrounding xcritical and Shiba Inu, and as always, it’s essential to do your own research before making any investment decisions. Popular xcritical sleuth Whale Alert has spotted several consecutive mammoth-sized transfers that moved almost $250 million worth of Dogecoin to xcritical.