Binance listed Shiba Inu (SHIB) and its futures.
Shiba Inu’s price rose by over 61,000% in just a month.
Binance Innovation Zone is a “dedicated trading zone where users are able to trade new, innovative tokens that are likely to have higher volatility and pose a higher risk.”
Crypto Dog Army Evolves
Shiba Inu rapidly rose to prominence a few days ago and it is on the heels of DOGE’s price rally. SHIB proponents are now trying to push the token as “the next best thing” for the people who didn’t experience the Dogecoin hype train.
Remarkably, SHIB’s price surged from $0.00000006 early in April to a new ATH of $0.00003671 today. It is an epic increase of over 61,000% in just 30 days.
Following its listing on Binance, SHIB’s price retraced to $0.000029 at press time. But the token is up by 110% on the day and over 1,600% in the past week. The latest craze pushed SHIB’s total market cap to $12 billion. Now it is the 17th largest crypto.
At the same time, Binance also launched 1000SHIB, a USDT-margined perpetual futures contract with a clout of up to 25X.
The trading craze around SHIB still continues to dumbfound even a bit of the crypto industry experts.
“276 days ago someone put 10 ETH into SHIB and now it’s worth $460 million. How’s your life going?” tweeted EthHub co-founded Anthony Sassano today. This is far from the biggest profit made by SHIB so far.
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