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Shiba Inu prices may be fluctuating at the moment. However, if you’re thinking of selling your tokens, you might be making a tremendous mistake. This is why, if you own 1 million tokens, you should read this post right now. I’ll tell you about what’s going to happen to Shiba Inus in the next few weeks and how it’ll cause prices to skyrocket.
Let’s start with some good news.
Shiba Inu is back on the right track and has reached a new high. After the mysterious whale transferred his holdings to new wallets and paper hands sold off their holdings in anticipation of the whale’s next move, it was a particularly rough week.
Surprisingly, the whale has yet to transfer any of his assets to any exchange. And, according to Coinbase data, the price of Shiba Inu plummeted by around 6% this week as a result of this.
However, as of the time of writing this post, Shiba Inu prices have risen by nearly 20% in the last 24 hours, and their new price constitutes a new all-time high. This isn’t surprising, as experts projected that Shiba Inu will resume their bull run soon following this slump.
Analysts compared SHIB’s price movements to Dogecoin’s and found some parallels, even predicting that SHIB will rise from the trough to set a new all-time high, which it has now done.
Meanwhile, FXStreet reported on November 4 that Shiba Inu’s on-chain activity had skyrocketed. According to CoinGecko, the daily transaction volume for Shiba Inu in the USD Tether markets as of Thursday eclipsed Ethereum, Binance Coin, Solana, Dogecoin, and other Ethereum-killer projects.
While that was happening on Binance, ShibaInu’s trading volume was increasing elsewhere, including on KuCoin.
By trading volume, KuCoin is the world’s third largest cryptocurrency exchange. According to MarketWatch, Shiba Inu’s trade volume on the exchange eclipsed that of Bitcoin for at least three days on Thursday.
The growth of Bitcoin has attracted the curiosity of a lot of younger investors in the crypto market, according to KuCoin’s CEO, Johnny Lyu, who is also a SHIB holder.
However, because most people do not have the financial means to invest in cryptocurrencies, many are resorting to dog-themed coins, “where you can acquire loads with just $100.” The fact that Shiba Inu is currently the world’s third most googled cryptocurrency backs up Lyu’s theory.
The crypto billionaire has also stated that dog-themed cryptos embody the power of community, which is why, despite price drops, he will not be selling his holdings anytime soon. Lyu also owns Dogecoin and Bitcoin, which he uses as a safe investment, during inflation.
Listings and a publicly traded company that now accepts Shiba Inu as a form of payment.
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So, the official SHIB Twitter account announced this. @catexofficila has listed all of our ecosystem tokens #SHIB, #LEASH, and #BONE! Thank you for your support, #ShibArmy! Catex is a top cryptocurrency exchange in the world, in case you didn’t know.
The exchange, which was formed in August 2018, is situated in Shenzhen, China. Turkey, South Korea, Russia, Bangladesh, the United States, Indonesia, the Middle East, and India all have international communities of exchange.
Catex is a community-based crypto mining exchange that uses transaction mining to allow users to receive revenue through its profit-sharing platform. Transaction mining entails customers mining the exchange’s token each time they trade different cryptos on its platform.
A conventional trading platform is also available on the exchange platform, allowing traders and investors to store, sell, and purchase a variety of cryptocurrencies. Shiba Inu has also been listed in another country, this time in Canada. According to the company’s announcement on Thursday, Wealthsimple, Canada’s Robinhood, gained support for SHIB.
In July of 2020, the Toronto-based online brokerage provider launched Wealthsimple Digital Assets, a new subsidiary dedicated to crypto trading. Users could only trade Bitcoin or Ether, the two most popular cryptos, when the feature was first released.
The Ontario Securities Commission (OSC) did, however, grant the business permission to extend its crypto products. The token then included 14 new digital assets, including Solana, Cardano, and Dogecoin, among others. The corporation has also intimated that crypto-based exchange-traded funds will be added to retirement plans.
These listings are excellent news for Shiba Inu, as they increase Shiba Inu’s accessibility to a market that is already enthusiastic about the token. This means huge trade volumes for Shiba Inu, which is wonderful for pricing.
Furthermore, greater demand breeds more demand, just as more exchange listings breed more exchange listings. This is a great cycle to be in, and it’s a solid sign that Shiba Inus aren’t going anywhere anytime soon. Let’s go on to the public corporation that recently welcomed Shiba Inu.
Kronos Advanced Technologies became the first public company to accept Shiba Inu as a form of payment for air purifiers and PDE supplies on Monday, November 1.
Although a small enterprise at the moment, this is significant for Shiba Inu because it expands Shiba Inu’s real-world utility. Many opponents of the token argue that it will fail due to its lack of real-world utility.
Institutional interest in Shiba Inu, on the other hand, is growing faster than anyone could have predicted, and Shiba Inu is now being adopted by a variety of companies, with Kronos being the first public company to do so.
Furthermore, owing to cooperation with NowPayments.io, the number of companies, organizations, and businesses that accept Shiba Inu will undoubtedly grow. Shiba Inu’s grip on the crypto market will be firmly tightened once this occurs, and prices will truly take off. Keep in mind that we’re working on a prospective agreement with AMC. Ironically, I feel this recent drop provided Shiba Inu with a wonderful opportunity to demonstrate why AMC should list it.
Shiba Inu has been labeled the most robust cryptocurrency on the market, and the token is living up to its reputation, making it more appealing to institutions considering adding support for the coin. You’re probably wondering about the Robinhood IPO, when it’ll happen, and why it’s taking so long.
You’ve heard all the promises from individuals who claim to have insider knowledge at this point, and nothing has transpired yet. Then there’s Kraken, which appeared to be planning to list the token but has yet to do so.
In the official Shiba Inu Discord, Shytoshi provided some explanations that may shed light on why the token has yet to be listed. Shib informer wrote an excellent post that everyone should read that summarises the situation better than I can, but here is my personal opinion.
The CMC owes an explanation to the SHIB Army. But there’s a chance we won’t get one. Now have a look… Robinhood and Kraken are two US-based exchanges that adhere to the country’s strict regulations. Before they can advertise an asset, they must verify that all information is proper to the tune of 400 million percent.
Who would they turn to for information if they don’t talk to us? To summarise, Robinhood and Kraken are American exchanges that will not be able to list Shiba Inu unless they can demonstrate that they have done their homework. This implies they need correct information about Shiba Inu’s circulation supply before they can list them.
They only have CMC and CoinGecko since they can’t communicate to the creators because they require information from independent, neutral sources. Unfortunately, CMC’s data on Shiba Inu has not been updated, and it looks that this is what is preventing us from being included on these platforms.
Nonetheless, there’s no reason to give up hope just yet, as Robinhood is well aware of the uproar for Shiba Inu to be added to the app. Although the corporation hasn’t confirmed whether or not it will feature SHIB, it did reference Shiba Inu in a quiz on its Instagram story. The question was, “How strong is a cryptocurrency?”
A. its community.
B. Elon Musk wants it to be.
C. The total number of SHIB comments.
Even if this doesn’t indicate a listing, it does indicate that Robinhood is fully aware of the SHIB community’s strength and the fact that the SHIB Army is unbeatable. So, however long Robinhood intends to tease, Shiba Inu will undoubtedly receive that listing very soon. Shiba Inu will almost certainly go exponential after that, and may even remove a zero or two.
Disclaimer: This article is not intended to persuade you to buy any of the cryptocurrencies or to invest in any way. This is merely an amateur’s opinion, not that of a financial advisor. I recommend speaking with your financial advisor and conducting your own research before investing in cryptocurrency.