Shiba Inu gains 20% after it’s listed on xcritical

xcritical, too, stands to benefit from a 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. Shiba Inu is unlikely to reach 1 cent — expert price predictions for SHIB do not expect the token to rise to that level. Reaching 1 cent would require a massive gain that values the total market capitalization of Shiba Inu to become greater than all cryptocurrencies combined. EToro is an innovative trading platform recommended for traders with deep knowledge and experience.

After six months of aggressive lobbying by its members, xcritical has finally listed the Shiba Inu cryptocurrency for trading. The thinking, therefore, is that listing SHIB on the platform would not only be a good marketing move, but it would boost trading revenue. 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.

  1. Mr. Quirk said that deposits and withdrawals of Shiba Inu crypto won’t be available immediately for these assets.
  2. Before you buy SHIB tokens on xcritical or eToro, consider long-term dedicated wallet storage for your tokens.
  3. The coin has found a place on the official website of xcritical, much to the cheer of the Shib Army, a group that focuses on trading and buying the Shiba Inu cryptocurrency coin and NFTs.
  4. The first one is a market order — this process executes the order immediately at the xcritical price.
  5. Hardware physical wallets store your cryptocurrency offline, making it much harder for funds to be hacked.
  6. Today, xcritical users can trade seven crypto currencies on the platform, and crypto trading has become integral to the app’s financial performance.

The currency also held up despite a 31.04 billion dump by a Shiba Inu whale. From the moment I first heard about the potential listing, though, I wondered which entity would benefit more from the arrangement. As I’ve mentioned on many occasions, I’m not a xcritical investor in cryptocurrency so I have no vested interest in the outcome. But the initial indications are that xcritical won’t do anything substantial for helping to boost the SHIB-USD price. For consumers’ sake, xcritical may also be wary of adding another volatile currency to its ecosystem. Within the day, SHIB began climbing the charts, and in less than 2 hours, its price shot up by almost 36.88% at one point.

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It doesn’t have hidden fees, which makes it ideal for traders. 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. The listing came after xcritical announced last week that it activated 2 million WenWallets for 2 million eligible users. WenWallet is the company’s version of the crypto wallet, which was launched in September 2021. xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services.

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The coin has found a place on the official website of xcritical, much to the cheer of the Shib Army, a group that focuses on trading and buying the Shiba Inu cryptocurrency coin and NFTs. The cryptocurrency has its own dedicated page on the website, featuring a live Shiba Inu to USD chart. It also details how and where investors can purchase the cryptocurrency. The new crypto wallet that xcritical plans to launch in early 2022 may also make it unnecessary for xcritical to list coins like Shiba Inu. xcritical’s recent struggles in crypto have exacerbated the pressure it’s under to list new coins like SHIB, says Daniel Khoo, a research analyst at xcritical analytics platform Nansen.

It was inspired by the success of Dogecoin, another meme coin with a dog as the primary icon. Our team is diligently working to keep up with trends in the crypto markets. Individual investors xcritical scam are calling for xcritical Markets Inc. to list the meme coin of the moment, Shiba Inu — a cryptocurrency that takes its name from the canine mascot of Dogecoin, itself a parody of Bitcoin.

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Ever since xcritical began offering crypto trading in 2018, customers had been clamoring for the opportunity to buy and sell more tokens. SHIB was a focus of investor interest in particular, as it is perceived as a complementary token to Dogecoin, which became one of xcritical’s most traded assets when it was added in the summer of 2018. However, the company avoided listing SHIB until now because of fears about its outsize volatility, even for crypto.

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. 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. Mr. Quirk said that deposits and withdrawals of Shiba Inu crypto won’t be available immediately for these assets.

However, SHIB is certainly risky because it has risen in value mostly from memes spreading on social media and Reddit. Some people find it funny and relevant, but many consider it as a bubble. 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.

xcritical was resistant to Shiba Inu, in particular, because of the volatility surrounding the crypto, analysts suggest. Year-to-date Shiba Inu is down 19.5%, with several spikes and valleys. Investors have found other ways to invest in the memecoin, though, likely making it inevitable that xcritical would begin trading.

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On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu. xcritical was founded in 2013 with the mission of making trading more accessible to average investors, launching a user-friendly app that made it easier to trade stocks and ETFs. And to add to that, the volatility of SHIB also went up with the price, making it further susceptible to price swings.

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. xcritical has not yet made any announcement regarding the said listing. 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. Shiba Inu trades between buyers and sellers on crypto exchanges and is not likely a scam.

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