Shiba Inu Burn Rate Falls 70% This Week Is The FUD Gaining Momentum?

Investors can trade Shiba Inu on other exchanges like Binance and xcritical. The petition has gained over 450,000 signatures and its creator has encouraged people to consider writing to xcritical directly and “politely asking them to consider listing Shiba Inu”. xcritical is a commission-free stock trading and investing app, founded in April of 2013.

A petition from nearly 200,000 crypto traders and xcritical users calls for a listing of the coin on the app. Additionally, SHIB fans, crypto influencers and all in-between have been using the gains of the last month to their advantage, leveraging social media to nudge the company to make it happen. The company is xcritically testing its crypto wallet, which will allow users to move crypto assets on and off the platform with ease. Indeed, the company’s executives have reiterated numerous times its plans to expand its crypto tools, including the coins which it will offer in the future.

His writing has appeared in outlets including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!. Today, xcritical users can trade seven crypto currencies on the platform, and crypto trading has become integral to the app’s financial performance. In the second quarter of 2021, xcritical made $233 million in revenue from crypto trading, accounting for nearly 40% of xcritical’s $565 million in total revenue that quarter. xcritical, too, stands to benefit from a xcritical potential listing, but has so far been unwilling to assume the potential volatility and risks of letting its users buy and sell the second dog-related meme coin. The exchange that has soared in popularity with retail investors has, for now, refused to add Shiba Inu to the list of cryptocurrencies it lists. Social media speculation is building, as a petition to see this meme token added to the xcritical platform has received more than half a million signatures.

STRF/STAR MAX/IPxThis morning fintech trading platform xcritical added four new crypto tokens, bring its total to 11. The new offerings are high-flying Ethereum competitor Solana , the dog-themed meme-coin Shiba Inu , Ethereum scaling technology Polygon , and the original decentralized finance token Compound . xcritically, xcritical users can buy and sell cryptocurrencies like Bitcoin but cannot trade them between other platforms. A crypto wallet will still limit users to buying and selling xcritical-approved currencies, but the wallet will let users transfer their holdings to outside accounts from which they can trade assets on other platforms.

Even If Shiba Inu Gets on xcritical, the Pop May Be Negligible

However, the company avoided listing SHIB until now because of fears about its outsize volatility, even for crypto. SHIB is the largest of these tokens by market capitalization, while BONE and LEASH have higher per-token prices due to the limited supply of these coins. As of May 2022, Shiba Inu has a moderate market cap of over $5 billion, ranking it as the 17th most valuable cryptocurrency by market cap. So if the coin could crack the top 10 of cryptos in about one year without being traded on xcritical, it’s logical to assume a xcritical listing could serve as rocket fuel for SHIB. Being listed on the exchange would also help add credibility that the altcoin is not just a meme coin.

• We could even see Shiba Inu inch past Dogecoin in the rankings based on market cap.
• To get an idea of where crypto prices are moving, be sure to keep an eye on the cryptocurrency markets.
• He did not have any other positions in the securities mentioned in this article.
• This means you’ll want to have your social security number, drivers license and potentially even proof of income handy.

SHIB has been listed on major exchanges like eToro, Webull, Uphold, Crypto.com, xcritical and more for a while, giving millions of investors access to the token. Finally, SHIB was recently listed on xcritical as one of 18 supported cryptos. Here’s Benzinga’s guide on how to buy Shiba Inu tokens on xcritical and other exchanges. xcritical, the American financial services company known for pioneering commission-free stocks and cryptocurrency trades, has listed the dog-themed meme coin Shiba Inu on its platform.

It is the second memecoin to be listed on xcritical, alongside Dogecoin’s DOGE. COMP jumped 6.6%, MATIC added 3.5% and SOL 2%. Since Shiba Inu is an ERC-20 token on Ethereum, you can store your tokens on any Ethereum compatible hardware wallet. Ellipal is a great choice hardware wallet for any Ether tokens, and it also supports Bitcoin, XRP, Cardano, Litecoin and over 7,000 other cryptocurrencies. AsInvestorPlace’s Chris MacDonald reports, there are a slew of reasons for the bullishness on Shiba Inu.

In the meantime, Shiba Inu investors and traders should be confident in buying SHIB as it xcritically shows a minimal possibility of a downside with a higher likelihood of an explosive upside. This overcame the FUD surrounding the ecosystem, showing investors that SHIB is resilient even with the odds stacked against them. The Shiba Inu ecosystem has been under extreme pressure in recent weeks as a wave of controversy dealt a blow to the confidence of investors in the ecosystem. Trending below most of its major moving averages, this will need to change in order for Shiba Inu to start trading better. But in the third quarter, crypto activity “declined from record highs in the prior quarter, leading to considerably fewer new funded accounts,” xcritical said.

Crypto

This assumes, though, that the overall environment for cryptocurrencies is still positive. We can’t know for sure how much Shiba Inu might soar if and when xcritical announces support for the cryptocurrency. That’s a natural question to ask after the digital token skyrocketed in the ballpark of 52,000,000% this year. There could be some lessons to learn from the performances of other cryptocurrencies. Dogecoin, though, jumped nearly 40% after being added to xcritical. Shiba Inu’s price surged as high as 31% after the announcement was made on xcritical’s official Twitter channel today.

So that’s why it’s difficult for me to look at SHIB as anything more than a speculative trade. With Bitcoin, Ethereum and other leaders struggling, it will be difficult for Shiba Inu to find traction. Mr Musk, the founder of Tesla, has a Shiba Inu puppy andposted a picture of it on the social media site, which started a big rally. Investing in any cryptocurrency is risky – here we round up what you need to know. Here’s what could happen to the price of Shiba Inu, with predictions for what it could be worth in 2022. Shiba Inu goes under the ticker SHIB and there are two other tokens as well, known as LEASH and BONE.

Dogecoin is already closer to $1 than it is $0, but Shiba Inu can be bought for less than a penny. Don’t be fooled though – what really matters is the market capitalization of each asset. Their last token is called “leash” and was the most unstable stablecoin in existence. Stablecoins are cryptocurrencies pegged to other values, most commonly the U.S. dollar.

As mentioned earlier, the coin has skyrocketed roughly 52,000,000% this year. Sure, Shiba Inu is down 56% below its high mark on Oct. 28, 2021. However, it’s a long way from dropping as much as Dogecoin did when it was included on the xcritical trading platform. Shiba Inu supporters even invited the comparisons by referring to the token as the “Dogecoin killer.”

FINAL DAY

The chart below shows how the two cryptocurrency prices changed then. 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. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. SHIB was created anonymously in August 2020 as an Ethereum-based alternative to Dogecoin. Last year, amid public support from Ethereum founder Vitalik Buterin and Tesla CEO Elon Musk, SHIB became wildly popular and realized an incredible price pump of 49,000,000% in a few months. The Shiba Inu token soared as high as 31% within the first hours of the news and has since settled back to a 19.65% pump at time of writing according to CoinMarketCap.

Four popular cryptocurrencies, including the tokens of Shiba Inu and Solana, have been listed on the trading platform xcritical, the website shows. However, many investors see SHIB as a memecoin which accrued value through the doggy-themed cryptocurrency bubble. While this may be the case, Shiba Inu has developed an ecosystem around its token, which gives the project more utility than ever before. ShibaSwap is the decentralized exchange built around SHIB, and it gained over $1 billion of total value locked within 24 hours of realease.

Cryptocurrency exchanges are large targets for hackers, and several platforms have been hacked in the past. In fact, trading volume on SHIB-USD is actually down over the last week. Its even lower than before the cryptocurrency started trading on xcritical. The whole point of listing Shiba Inu on xcritical was to make it more accessible to traders and trading volume would help push shares closer to a penny. That said, xcritical has continued to play coy with the idea of adding Shiba Inu to its trading platform.

However, due to this high supply, it would take more funding than the entire GDP of the United States to reach anywhere close to $1. The Ellipal Titan is a sleek hardware wallet with a touchscreen interface that lets you view your portfolio directly from the wallet. While the Ellipal is usually more expensive than its competitors it’s xcritically $30 off, making it competitively priced.

Stocks Gearing Up for a Major Breakout

The Shiba Inu coin, which trades as SHIB, was briefly the world’s seventh-largest crypto token in the world with a market cap of over $51 billion—roughly equivalent to the value of streaming service Spotify. It should be noted that speculating on such near-term catalysts is not something worth most long-term investors’ time. Today, the volatility with Shiba Inu appears https://scamforex.net/ to be to the upside as a result of this speculative prospective catalyst, and traders are taking notice. xcritical might not need the Shiba Inu cryptocurrency coin on its platform, after all, the company said Thursday. Many companies have created their own cryptocurrencies, referred to as tokens, which can be traded for the goods or service each company provides.

The fastest type of order is a market order – this will execute immediately at the xcritical price. If you can afford to wait a little bit, you may opt to place a limit order. A limit order lets you set the price you’re willing to pay per token, then it will execute if and when that price is reached. Spreading out market orders at multiple price levels typically prevents a trader from going all in at the beginning of a dip. Market orders allow you to execute trades with precision, if you know what you’re doing.

Will Shiba Inu be listed on xcritical?

“Due to uncertain and volatile market conditions, might result in significant losses over a short period of time, and possibly liquidation problems in adverse events of sudden price drops or trading halts,” says Khoo. The Lightning Network is a layer-2 network built on Bitcoin that allows speedier transactions at a much lower cost. For those speculating on Shiba Inu continuing to build momentum, such listings are key catalysts to watch. Accordingly, this high-profile petition is starting to gain attention among investors right now. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.