Shiba Inu recently increased 146% following news that the DOGE imitator will be listed on crypto exchange platform Binance. After breaking the top 20 crypto list according to CoinMarketCap over the weekend, Shiba Inu jumped from $0.000003 to $0.000032, representing a 966% gain. Since the year began, Shiba Inu has climbed more than $2,300,000%.
The asset jumped after Binance said SHIB would be listed in its innovation zone earlier today. In the announcement on the 10th of May, the exchange said:
“SHIBA INU (SHIB) is an experiment in decentralized community building and another meme coin similar to Dogecoin.”
According to the Shiba Inu website, 50% of the token supply is locked into Uniswap for liquidity purposes. The remaining 50% was sent to the co-founder of Ethereum, Vitalik Buterin. Even though Buterin has 100% access to the token, the other 50% was sent as a “burn” gesture.
CoinMarketCap data revealed that Shiba Inu grew 80% in the last 24 hours. At press time, SHIB is trading at $0.00002705. Additionally, the token has grown 79.92% to a market capitalization of about $9.8 billion and has jumped over 65% to $13 billion in 24 hours.
Image Credits: Pixabay
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