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The apex cryptocurrency,
Bitcoin (BTC), which traded 5.2% lower at $55,703.13 at press time.
SHIB is getting love from Chinese investors who are aware of the project’s lack of technological promise. The coin is likely to be referred to as “s tcoin” by Chinese traders, CoinDesk reported.
“SHIB’s price performance over the weekend clearly shows that the crypto industry hasn’t had its fill of canine-themed memecoins just yet,” said Rick Delaney, a senior analyst at OKEx Insights, as per CoinDesk.
Why It Matters: The appreciation in SHIB is fueled by Chinese social media influencers on platforms such as Weibo and WeChat.
May 11, 2021 05:41 GMTCrypto News
“DOGE killer” Shiba Inu coin has reached a new all-time high as it rides on bullish momentum from recent crypto exchange listings.
SHIB price has climbed by over 2,260% in the past week, as many investors missed out on the Dogecoin pump.
Leading exchange Binance faces criticism over the listing of the Ethereum-based meme coin.
Demand for the Shiba Inu coin has been soaring as popular meme-based token Dogecoin has gained widespread popularity.
Shiba Inu price surges to new record high
Shiba Inu, known as the “DOGE killer,” uses the dog breed name that represents the Dogecoin cryptocurrency. SHIB price has surged massively off the back of its most recent listings on major crypto exchanges, including Binance, FTX, Huobi and OKEx.