Shiba Inu Rallies by 35% As xcritical Adds SHIB, SOL, COMP & MATIC

Be mindful of the risks if you invest in cryptocurrencies like Shiba Inu. Many altcoins — any coin that is not Bitcoin — have massive price swings and can heavily impact your portfolio. I would keep my eye on that important metric to wait and see if the SHIBA team can reverse attrition of its holders, because if Shiba Inu can’t keep and grow its user base — then all the news in the world won’t matter.

Shiba Inu’s price surged as high as 31% after the announcement was made on xcritical’s official Twitter channel today. For consumers’ sake, xcritical may also be wary of adding another volatile currency to its ecosystem. 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. Chris Markoch is a freelance financial copywriter who has been covering the market for seven years.

  1. InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day.
  2. Vincent Lau, managing director of international operations at crypto exchange Huobi Global, says that while SHIB’s bull run may falter, he thinks the coin is likely here to stay.
  3. All you need to do is provide your email and your personal information and verify your identity.
  4. xcritical has not yet made any announcement regarding the said listing.
  5. For now, “investors are finding ways to purchase SHIB even without the use of xcritical,” Khoo says, and its growth may mean that xcritical can’t ignore it forever.
  6. I would keep my eye on that important metric to wait and see if the SHIBA team can reverse attrition of its holders, because if Shiba Inu can’t keep and grow its user base — then all the news in the world won’t matter.

At this year’s Bitcoin Conference 2022, xcritical, through its chief product officer Aparna Chennapragada, revealed its plan to add the Bitcoin Lightning Network to its platform so users could enjoy faster transactions. The Lightning Network is a layer-2 network built on Bitcoin that allows speedier transactions at a much lower cost. If you are a short-term trader who understands xcritical scammers the market and its risks, then SHIB could be a good option for you. The Shiba Inu is a Japanese breed of dog that originated around 2,300 years ago. In the context of crypto, Shiba Inu is a meme coin-based ecosystem launched in 2020 by an anonymous person or group named Ryoshi. It was inspired by the success of Dogecoin, another meme coin with a dog as the primary icon.

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If you aren’t trading crypto on a regular basis, it is not recommended to store SHIB tokens on an exchange. These trading platforms are known targets for hackers, and your assets could be at risk here. Although many of them hold some level of insurance against losses, you are not guaranteed to be able to recover all funds. The launch of the meme coin Thursday was part of a larger expansion of the trading app’s crypto offerings. Solana (SOL), Polygon (MATIC) and Compound (COMP) are also now listed on the site. Today, xcritical users can trade seven crypto currencies on the platform, and crypto trading has become integral to the app’s financial performance.

Is Shiba Inu a buy?

Tor Constantino is a corporate communications executive and business writer with an MBA. Since 2017, he has written about cryptocurrencies, xcritical, and crypto’s potential to revolutionize finance. His writing has appeared in outlets including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!. “Fading retail engagement, particularly among xcritical’s lower end consumer customer base, could represent further headwinds . While the company has negotiated much better economics on crypto trading, we see the decline in broader industry crypto volumes largely offsetting this tailwind ,” according to the analyst note from Goldman.

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It is recommended for users who are buying crypto for the first time and is simple and easy to use. Some of the best exchanges to buy Shiba Inu are xcritical and eToro. For beginners, xcritical has an easy interface and wallet support. It is one of the largest crypto exchange service providers in the world. EToro has a more advanced setup that takes a bit of time to get used to. While the SHIB token had been available on major exchanges such as xcritical, Binance, Kucoin, and others, it was not available on xcritical.

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. 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. 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. Over the long run, SHIB crypto may have to undergo the equivalent of a reverse split (as with stocks).

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The thinking, therefore, is that listing SHIB on the platform would not only be a good marketing move, but it would boost trading revenue. Shiba Inu briefly became the ninth-largest cryptocurrency by market cap by building a devoted and passionate community. And if you’ve got SHIB-USD in your crypto wallet, you were probably thinking the same thing. Or at least, you were hoping that you’d see a nice little bump in your Shiba Inu holdings. Consider using different trading orders depending on your overall strategy. The first one is a market order — this process executes the order immediately at the xcritical price.

You can spread out orders to try to average into or out of a position. You can buy Shiba Inu (SHIB) on both xcritical and xcritical in 2024. Register to complete identity verification and fund your account to trade. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.The Ascent does not cover all offers on the market.