What Binance Just Did With Shiba Inu And Why SHIB Will Pass $0.50

#SHIB #shibainu #shibainucoin

Shiba Inu, a new Dogecoin-inspired cryptocurrency launched last August, has now formed ties with Binance, the world’s largest cryptocurrency exchange. This is a big win for Shiba Inu and its investors. The news heightens Shiba Inu’s visibility and offers more purchasing access to prospective buyers. The cryptocurrency market is massive and investors have identified this ever-growing opportunity as a chance to be prepared for the future. Looking at the boom in the increase in the number of investors, many apps and virtual currencies have come over the past few years. One such growing cryptocurrency exchange portal is the ShibaSwap platform which is recently getting a lot of attention from traders and investors. But the real question is what is the best way to buy Shiba? what did Binance and Shiba swap reveal about Shiba Inu? And why it can cause Shiba to reach 50 cents?

What is ShibaSwap?
The newly introduced ShibaSwap platform has caught the eyes of investors successfully as it is Shiba Inu’s own decentralized cryptocurrency exchange. The portal allows buyers to trade between Shiba Inu and other crypto coins. However, currently, it only has the Shiba token for users. As we all know, currently Dogecoin is a popular virtual currency backed by many billionaires including Elon Musk, but it was started as a joke. However, what many people are unaware of is that it has also inspired another cryptocurrency called the Shib coin which is also a joke coin of its own. The most interesting thing about this crypto is that it is promoting itself as the dogecoin killer. But, it still has a market capitalization of more than $3.3 billion as of June 2023.

Shiba Inu gets Binance listing, a big win for Shib investors.
On May 10, Binance tweeted that it added Shib to the platform, increasing the token’s exposure and accessibility. “Shibtoken is an experiment in decentralized community building and another meme coin similar to Doge,” Binance said. According to Shib Inu’s official website, the founders boast that Shib is the “Dogecoin killer,” claiming that it is poised to outpace Dogecoin’s growth. Featuring the same canine-Esque marketing as Dogecoin, Shib is determined to outshine its rival. Before it was added to Binance’s arsenal, Shib also scored a listing on crypto dot com, but at the time, the Shiba Inu team encouraged investors to purchase Shib on Uniswap. “There are some centralized exchanges that have listed Shib, but they have a history of locking funds. If you can, it’s safer to trade on a decentralized exchange like Uniswap or 1inch.” SHIB is an ERC-20 only token, which means that it runs on the Ethereum blockchain and uses its smart-contract technology. As such, prior to the Binance listing, in order to purchase Shib, buyers had to purchase ether which is Ethereum’s native cryptocurrency and exchange it for Shib on Uniswap. Now you can purchase Shib on Binance, but unfortunately, it’s not any less convoluted. Binance issued a warning to its users after the Shiba Inu listing, reminding investors that the meme token is a highly speculative asset: “Shib is a relatively new token that poses a higher than normal risk, and as such will be likely subject to high price volatility after the Binance listing.” As with any investment, if you plan on diving into the Shib crypto craze, do your own research about Shib’s mission and fundamentals so that you fully understand what you’re getting into. Make sure to exercise sufficient risk management: only invest what you can afford.

How to buy Shiba Inu coin and avoid high Ethereum gas fees.
From our research, There are ways to avoid Ethereum fees, but keep in mind if you live in a state that has strict crypto regulations, some apps that help you dodge these sky-high expenses are not available to you. KuCoin, for example, is a highly suggested platform for curbing high ethereum fees, but it’s not available in New York. However, if you’re not a New York resident, you can use KuCoin to buy Shib at a lower rate. It’s a little convoluted, but it’s worth it. First, you must purchase XLM on Coinbase.

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What Binance Just Did With Shiba Inu And Why SHIB Will Pass $0.50

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Kane Dane