Shiba inu

Shiba Inu Price: Surges Following New Exchange Listings & Vitalik Buterin Praise

Shiba Inu (SHIB), the popular dog-themed cryptocurrency, has been making waves in the crypto market, with its price surging by 11% in the last 24 hours. The significant price increase comes on the heels of new listings for both SHIB and BONE ShibaSwap (BONEUSDT), the Shiba Inu governance token and Shibarium’s gas token, on prominent crypto exchanges LBank and Binance Futures.


TLDR

  • Shiba Inu (SHIB) price has surged by 11% following new listings for SHIB and BONE tokens on LBank and Binance Futures platforms.
  • Ethereum co-founder Vitalik Buterin praised Shiba Inu’s performance, admitting that the meme coin “massively” outperformed his expectations.
  • Shiba Inu’s trading volume has soared, outperforming major cryptocurrencies like Ripple (XRP) and Cardano (ADA).
  • Daily transactions on Shibarium, Shiba Inu’s layer-2 scaling solution, have surpassed 400,000, a 500% increase from the previous day.
  • The meme coin market is experiencing a bullish trend, with Shiba Inu among the top performers, along with other tokens like dogwifhat (WIF) and Bonk Inu (BONK).

LBank recently announced the listing of BONE perpetual contracts with up to 50x leverage, while Binance Futures is set to launch a USDC-margined 1000SHIB perpetual contract, also offering up to 50x leverage.

These new listings are expected to increase the visibility and accessibility of SHIB and BONE tokens, paving the way for broader adoption and utility within the cryptocurrency space.

Shiba Inu’s impressive performance has not gone unnoticed, with Ethereum co-founder Vitalik Buterin praising the meme coin’s success.

Buterin, who famously burned approximately 410 trillion SHIB tokens and donated 50 trillion SHIB to India during the COVID-19 pandemic in 2021, admitted that Shiba Inu had “massively” outperformed his expectations. Initially, Buterin believed that SHIB’s price would “drop 100x in a few days” following his token burn, but the meme coin has since proven its resilience and growth potential.

The bullish sentiment surrounding Shiba Inu has been further bolstered by its soaring trading volume, which has outperformed major cryptocurrencies like Ripple (XRP) and Cardano (ADA).

According to CoinGecko, SHIB’s 24-hour trading volume has risen above $2.3 billion, surpassing XRP’s $2.1 billion and ADA’s $630 million.

Shiba Inu has witnessed a significant increase in other key metrics. Daily transactions on Shibarium, the project’s layer-2 scaling solution, have surpassed 400,000, representing a staggering 500% increase from the previous day.

Launched in August 2023, Shibarium aims to elevate Shiba Inu above its competitors by improving transaction speed and reducing fees. The scaling solution has recently reached several milestones, including exceeding the 400 million mark in total transactions.

The meme coin market, as a whole, is experiencing a bullish trend, with Shiba Inu leading the charge. Other popular meme coins, such as dogwifhat (WIF) and Bonk Inu (BONK), have also seen significant price increases, allowing traders to realize substantial profits.

One SHIB trader reportedly turned a $2,500 investment into more than $1.5 million, while a WIF investor allegedly made over $5 million from an initial investment of just $310.

As the cryptocurrency market continues its upward trajectory, with Bitcoin (BTC) surpassing $71,000 and Ethereum (ETH) exceeding $3,600, the meme coin niche appears to be even more bullish. Shiba Inu, in particular, has been among the top performers, with its price increasing by 7% in the last 24 hours and 20% on a weekly basis.

The success of Shiba Inu and other meme coins has attracted the attention of investors seeking the next cryptocurrency that could offer the potential for 100x profits.

While the volatility of the crypto market remains a concern, the recent performance of Shiba Inu and its ecosystem highlights the growing interest and potential in the meme coin sector.



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