CoinMarketCap News: Despite its recent appearance, the SHIB coin has managed to enter the top 20 of CoinMarketCap today. The coin rose from $ 0.000003 to $ 0.000032, up 966 percent in just a few hours.
Shiba Inu rose from $ 0.000013 to $ 0.000032 after Binance announced that it would list SHIB in the innovation space.
The cryptocurrency claims on its website that 50 percent of the token supply is permanently locked to Uniswap to provide liquidity. The other half was sent to Ethereum founder Vitalik Buterin as a “burn” movement. However, Buterin still has full access to the funds.
Therefore, Buterin’s public wallets are currently worth over $ 15 billion. This is well above the Ethereum (ETH) assets, which are currently worth just over $ 1.3 billion.
Unlike CoinMarketCap, CoinGecko has not yet attributed a market value to Shiba Inu as it has not yet determined the current coin supply.
Shiba Inu: Cryptocurrency inspired by the Doge
Cryptocurrency originating from the Doge has reached a market value of almost $ 100 billion.
Shiba Inu states that it aims to kill Dogecoin and highlight its enormous supply by allowing users to buy billions or even trillions of tokens, according to the token website.
Cryptocurrency also has a decentralized exchange called Shiba Swap.
When we take a clue from previous events, we can say that cryptocurrencies like this are experiencing a pump and dump. For example, WRAFT INU, a new form inspired by DOGE in BSC, has dropped over 95 percent from the peak.