Shiba Inu dogecoin imitator draws 146% on Binance statement

After appearing under the nickname “Dogecoin Killer”, which she applies herself, the latest cryptocurrency, which only succeeded in laughter, makes its way to Binance.

Shiba Inu (SHIB) broke into the top 20 of the CoinMarketCap chart just two days ago, which is probably the traders’ reaction to the hype surrounding Dogecoin (DOGE). Within 48 hours, the SHIB token changed from $ 0.000003 to $ 0.000032 – an increase of 966%, an increase of more than 2,300,000% since the beginning of the year.

When Binance announced Monday morning that it would introduce SHIB in its innovation zone (high-risk business function), the token valuation more than doubled in two hours, climbing from 0.000013 to $ 0.000032.

Shiba Inu claims that 50% of SHIB token deliveries have been irrevocably locked into Uniswap to ensure liquidity. Another 50% was sent to co-creator Ethereum Vitalik Buterin as a “burning” gesture, but Buterin still has full access to the funds.

The 500 trillion SHIB chips in Buterin’s public wallet are currently valued at more than $ 15 billion, well above the value of his Ether (ETH) economyThey currently have just over $ 1.3 billion. It should be noted that Buterin’s wallet regularly receives uninvited donations of these coins, including from many other dogecoin imitators. Some of Shiba Inu’s perceived values ​​seem to be based on the idea that Buterin’s tokens remain intact, but not all agree.

CoinMarketCap attributes a token valuation to the market cap of $ 11 billion, based on a unit price of $ 0.00002617 and a circulating bid of $ 394 billion. CoinGecko has not yet allocated the value of the Shiba Inu market ceiling because it has still not determined its current coin supply.

Binance, which also owns CoinMarketCap, has announced that it will open SHIB for trading in its innovation zone on May 10. notification said of Shiba Inu:

“SHIBA INU (SHIB) is an experiment in decentralized community building and another dogecoin-like meme coin.”

“SHIB is a native SHIBA INU token and will be the first token listed and used as an incentive to use ShibaSwap, a decentralized exchange,” he added.

This announcement draws attention to Buterin’s shares, highlighting his and two other wallets, warning: “Please note that at the time of writing, this article # 1, # 2 and # 5 wallets hold 50.5%, 7.0% and 3.0% of the total offer. “

We reached out to Binance to ask how the presence of half a quadrillion SHIB in Buterin’s wallet affected market limit calculations. This article will be updated if it responds.

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