Major announcement coming from one of the largest crypto exchange Binance that it will list SHIBA INU (SHIB) coin in the Innovation Zone.
Shiba Inu is a dogecoin inspired token, that is up around 500% last week. Like DOGE it has zero value, no fundamental underlying product, except for a massively hyped-up community and large purchase volume.
Claiming to be a “Dogecoin killer” and letting users hold billions or even trillions of the token to highlight its massive supply. I don’t see any real value to it. There’s also a decentralized exchange called ShibaSwap, which is not even launched yet, but this hasn’t stopped people from rushing in and buying the token.
SHIBA INU team says that SHIB will be the first token to be listed and used as an incentive for using the ShibaSwap decentralized exchange.
Today morning (2021-05-10), Binance announced on its website that it will list SHIBA INU (SHIB) in the Innovation Zone and will open trading for SHIB/BUSD and SHIB/USDT trading pairs at 2021-05-10 11:00 AM (UTC). Users can now start depositing SHIB in preparation for trading.
Another crypto exchange, kucoin also listed the SHIB token today morning and it is been traded now. There a total of 5 exchanges that have already listed SHIB tokens on their platform for trading.
I would like to inform my reader that there is a very high risk with this coin and please make a note that, as of the time of writing this, the top #1, #2 and #5 wallets hold 50.5%, 7.0%, and 3.0% of total SHIB supply respectively. Please research this token extensively before making any investment. Here are some more details regarding the SHIB token -