After Dogecoin, it was the turn of Shiba Inu ($SHIB) to stand out in the seven days ended 11/05/2021. In that period, Dogecoin’s rival cryptocurrency grew by 1,490% and 1,466% in BTC. With this, $SHIB is already the eighteenth cryptocurrency in market cap, exceeding US$ 11 billion. But beware, despite being one of the best cryptocurrencies to invest in this week, $SHIB is a very high-risk asset.
According to Cointelegraph, when Binance announced that it would list $SHIB in its innovation zone (a high-risk trading resource) on Monday morning, the token’s valuation more than doubled within two hours, rising from US$ 0.000013 to US$ 0.000032. In the same period, BTC had a 1.49% increase, trading at US$ 55,000 until the closure of this article.
According to the exchange, Shiba Inu is an experiment in building a decentralized community and another meme currency similar to Dogecoin. “$SHIB is the native token of Shiba Inu and will be the first token to be listed and used as an incentive for the use of ShibaSwap, a decentralized exchange”, the exchange added.
What is cryptocurrency news?
Cryptocurrency news is a weekly news bulletin with the result of the best cryptocurrencies according to their valuations in the seven days prior to the publication of the article. It is not an investment recommendation, but only an indication of the assets with the highest appreciation in the market in seven days.