- Shiba Inu gets listed on Binance.US, SHIB price recovers from the loss posted over the past week.
- The Shiba-Inu-themed token is one of the top 10 most mentioned cryptos on Twitter alongside BTC, ETH, DOGE, ADA.
- Shiba Inu CEO reveals that Shibarium, Shiba L2 using Bone as native token, is currently under development.
Over 650,000 SHIB holders are awaiting further updates in the Shiba Inu ecosystem. Analysts expect the launch on Shiba Inu’s blockchain to trigger a SHIB price rally.
New exchange listing and development updates push SHIB price higher
Coinbase Pro listed Shiba Inu on its exchange platform nearly a week ago. Since then, the token has been listed on the world’s largest cryptocurrency exchange, Binance’s US platform. The exchange announced SHIB’s listing earlier on Thursday on Twitter.
$SHIB is now available for trade. Get started here https://t.co/6c2NzvDmiS pic.twitter.com/reQLx61nCi
— Binance.US (@BinanceUS) September 15, 2021
Following the listing announcement, SHIB price increased 3%, and the token is trading at $0.00000673 at the time of writing.
A rally of nearly 30% followed the token’s Coinbase listing, being considered as “The Coinbase Effect.” The hype surrounding the token’s launch among traders on Coinbase has driven the newly listed cryptocurrency’s price higher.
Further, the social media mentions of the Shiba-Inu-themed cryptocurrency have hit a peak in the past few hours. SHIB ranks in the top 10 for the highest mentions on crypto Twitter over the past hour, alongside Bitcoin, Ethereum and Dogecoin.
Social media mentions are considered an indicator of market sentiment for a token. Historically, when a token is experiencing a strong price rally, mentions by the crypto community on Twitter hit a peak. This implies that Shiba Inu is currently on track for a breakout based on the spike in social media mentions.
Top 10 most mentioned cryptocurrencies on Twitter
The boost in traders’ sentiment towards SHIB can be attributed to the token’s new updates. Shytoshi Kusama, CEO and head of Shiba Inu ecosystem, revealed on the Shiba Inu’s Discord that Shibarium or Shiba Inu Layer 2 is coming soon.
Overall, the developments in the SHIB ecosystem have positively impacted the token’s price.
FXStreet analysts have evaluated where SHIB is heading next as the token is primed for a rebound. Analysts predict that SHIB could rally to $0.000009 if it holds key support at $0.0000058.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.