Shiba Inu, the token considered to be a real scam, was added to the trading of Binance and FTX. A news that surprised not a little and gave rise to controversy, precisely due to the particular nature of the project, considered by many to be a draft of Dogecoin. Practically aimed at exploiting the misunderstanding with the famous meme coin, without however presenting particularly interesting aspects from a technological point of view. In practice, an exclusively speculative cryptocurrency which, however, is becoming a real case.
The great growth of Shiba inu
Shiba Inu is a meme coin based on the blockchain of Ethereum. Practically resumes the graphic symbol of Dogecoin, with the clear intention of confusing investors. How did it happen when Elon Musk tweeted about his intention to adopt a dog of the same breed, leading many to buy Shiba Inu instead of Dogecoin, the actual recipient of that message.
Until that moment, in fact, few knew of its existence, but from that moment the scenario has changed completely. Its price has in fact started an increasingly pronounced upward trajectory. As a result of which in the last month alone, the token has seen its price rise by 40.000%!
A trend to be exploited
A trend that certainly could not be ignored by the many traders looking for hit and run opportunities. So much so that currently Shiba Inu ranks 28th on the CoinMarketCap ranking relating to market capitalization. Moreover, it is down by two places compared to a few hours earlier, having been one of the digital assets most affected by the earthquake that affected the sector after the latest statements by Elon Musk. Relating toTesla's intention to divest i Bitcoin acquired at the beginning of the year, as the mining it would constitute an attack on the environment.
Once the umpteenth storm that is affecting the entire crypto space has passed, however, the price of Shiba Inu could resume its upward movement, relying on the decision taken by Binance and FTX. Which, however, has been strongly criticized by many parties.
Changpeng Zhao's response
Many could not digest Shiba Inu's inclusion in Binance and FTX trading. Especially in light of the resistance shown in the past for projects considered much more valid than the meme coin.
In particular, Changpeng Zhao was responsible for responding to the many criticisms, the CEO of Binance. Who recalled on Twitter that theexchange of cryptocurrencies has done nothing but take note of a growing demand in this regard. The inclusion of Shiba Inu on the platform, that is, should not be understood as an evaluation of merit, but simply as a step in the direction of the many who want to be able to invest in this token.
And that many are asking for such a step can be inferred from another part of the message posted by Changpeng Zhao. That is the one in which he recalled that yesterday the deposit addresses were even exhausted ETH, due to Shiba Inu. An event that had never happened before for the other ERC20 tokens. Such as to push analysts to conclude that the SHIB boom is far from over and would only wait for the end of the current crisis triggered by Elon Musk's statements to regain strength.