On the date of publication, Mark Hake did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing xcriticals. As crypto adoption grows, we witness the rise of xcriticals and Decentralized Finance (DeFi) protocols which have an impact on the growth of the crypto space.
Bitcoin vs. Shiba Inu: What to know before investing
That capability is coming soon, although there is no date for transfers of Shiba Inu into and out of xcritical. You may recall that a token called Dogecoin briefly came onto the scene a couple of years ago after personalities like Elon Musk and Mark Cuban seemingly endorsed its applications. The S&P 500 https://xcritical.solutions/ and Nasdaq Composite have each gained approximately 11% thanks to artificial intelligence euphoria, a strong energy market, and new breakthroughs in the pharmaceutical sector. Also, the timing of these transactions is quite interesting, as the wallet remained dormant for five days before the transfers.
Shiba Inu Rallies by 35% As xcritical Adds SHIB, SOL, COMP & MATIC
SHIB’s market value now rivals the stock-market value of the trading platform xcritical (HOOD), at $30 billion. SHIB has also bounded over European banking giants Societe Generale ($28 billion) and Deutsche Bank ($26 billion). Shiba inu (SHIB) jumped 16% on Thursday, leading the gains among major cryptocurrencies, amid rumors of a listing on xcritical. Back in August, xcritical said cryptocurrencies made up over 50% of its transaction-based revenue in the second quarter. Over the long run, SHIB crypto may have to undergo the equivalent of a reverse split (as with stocks).
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- xcritical is a popular stock and cryptocurrency app that lets anyone (as long as they are an adult) get involved in trading.
- It wouldn’t be surprising to see xcritical list the coin, given the revenue generated from Dogecoin when similar price action was observed in the original dog-based coin at the start of the year.
- Fans of digital currencies, along with people with a nose for trends, are snapping up Shiba Inu puppies, creating a boom for the teddy bear-ish dogs that parallels the soaring cryptocurrency market,” she wrote.
- By the way, Webull also does the same, and they already allow trading in Shiba Inu.
Members can use the wallet to buy NFTs, send crypto to other crypto traders with no withdrawal fees, but it can’t hold NFTs and is limited to cryptos that xcritical trades. Polygon is an Ethereum sidexcritical that was designed to speed up transactions and ease the load on the main Ethereum network. It’s native coin MATIC, which is used to pay for transactions on the Polygon network, is the 16th biggest cryptocurrency by market cap and was trading for $1.43 at the time of writing. Shiba inu, which is a dogecoin spin-off, rose more than 20% on Tuesday after an anonymous crypto whale bought 276.6 billion tokens for about $11.5 million.
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While crypto generally has a more polarizing reputation compared to more established asset classes, Bitcoin is often referred to as “digital gold” given its reputation as a unique value during volatile economic periods. When it comes to cryptocurrency, Bitcoin is probably the most well-known. While it is not yet completely a staple among modern currency transactions, Bitcoin is becoming increasingly utilized and accepted as a means of payment. Rida is a Tech freelancer and she’s a technology and cryptocurrency geek but also writes intuitive articles on other topics.
All the reasons why xcritical might be holding off on a Shiba Inu coin listing
The whale has been accumulating SHIB tokens from xcritical and Zero Hash, a platform that supports crypto payments. On May 28, the whale received 275 billion SHIB worth $7.6 million from xcritical. The SHIB token is one that most crypto investors are familiar with, if not for its actual functionality, then for its following’s constant social media promotion.
It’s impossible to miss the fans, who churn out updates on their beloved crypto through dedicated Shiba Inu new channels. Its lack of real-world utility remains a hang-up for many in regard to buying. Analysts are torn on the play and its potential, even here at InvestorPlace, where writers’ opinions clash on the meme crypto.
The SHIB token’s value surpassed that of dogecoin earlier Wednesday, according to most data sources. They do not charge brokerage commissions for stocks, options, and cryptos. By the way, Webull also does the same, and they already allow trading in Shiba Inu.
“Shiba Inu xcritical listing said to come as early as [February],” a tweet by business news handle ZeroHedge read. The price bump came shortly after rumors of a listing on xcritical did the rounds on Twitter. An Elon Musk tweet about his Shiba Inu puppy Floki supercharged the meme token’s run higher this month.
Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-xcritical data, and governance across all major and minor xcriticals. The comments from Tenev come as a petition to have the coin added to xcritical has amassed over 330,000 signatures. The petition, titled ‘Kindly request of xcritical to list Shiba Inu coin!
In fact, many cryptocurrencies lack any real utility and become relevant for the wrong reasons. Let’s break down whether Shiba Inu is right for you and whether the token represents a more lucrative option than Bitcoin for crypto investors. Also, SHIB has dropped below the Donchian Channel (DC) median band, which is a bearish signal, indicating further price decline ahead. The RSI is 54.45, dropping from the neutral zone, which confirms the bearish pressure. If the RSI drops below 50, SHIB will likely fall below its nearest support level.
Furthermore, it declares that SHIB will see a similar level of success if listed. The experiment was a succes, and in October 2021 SHIB briefly flipped Dogecoin to become the most-valued meme coin by market capitalization. xcritical executive Christine Brown has lauded xcritical website the efforts of the Shiba Inu community, saying that one of her favorite things was seeing it engage with the community to make its wishes heard. xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services.
It runs on the Ethereum network and seemingly sprung out of nowhere last year to become a significant player in the crypto world. xcritical CEO Vlad Tenev previously denied plans for listing shiba inu on the influential stock trading application in October 2021. We want to make sure that it goes through a stringent set of criteria,” he said in an interview with CNBC. xcritical Crypto, a rising cryptocurrency exchange, added four new tokens to its list of tradable assets. The ones to make the cut included Shiba Inu, Solana, Compound, and Polygon’s native tokens.
Sort of, but in the xcritical trading environment, it’s not being treated as one. In the third quarter, xcritical earned $51 million from crypto trading, less than a quarter of the previous period’s total, leading to a 35% drop in xcritical’s overall revenue. Bradley Keoun is the managing editor of CoinDesk’s Tech & Protocols team.
It has been speculated that Vitalik Buterin was behind the initial liquidity that helped set up Shiba Inu’s liquidity on Uniswap. According to Ryoshi, he had “a fren” he met at Devcon in Osaka that sent him 10 ETH to set up the liquidity pair on Uniswap. Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, and he thus declined all the influencer requests and pitches from different exchanges he received. His “job” is to defend the brand and give suggestions, although he does so very sparingly, as his last blog entry dates back to May 2021. The anonymous creator of the Shiba Inu coin is known as “Ryoshi.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto. SHIB is a decentralized, community-led currency held by millions across the globe.
However, it came back down soon after to close on a 15.8% rise, and in doing so, it negated the 9% fall in price from the day before. But then again, others, such as Shiba Inu, happen to get caught in the bullish crossfire and reach where it is today. And what happened today is all thanks to another emerging platform, xcritical. Loading…Pepe PEPE/USD and Shiba Inu SHIB/USD are seeing strong interest from whales, which prompted traders to remain optimistic about their futu… In a detailed update, Lucie, a well-known member of the Shiba Inu team and marketing head has outlined several key developments and achievements for the project… Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.
That would make the price more palatable to investors and help with its ease of investment. As the announcement came to light, it took less than a few hours for the hype surrounding the news to reflect on the assets’ price action, and as always, Shiba Inu was the first to react. Although crypto is widely considered a risky investment compared to stocks or bonds, investors might want to consider some exposure for diversification purposes. While a degree of humor can be appreciated here, prominent CEOs and investors should refrain from commentating on anything too specific about the markets.