Shiba Inu Rockets Higher on xcritical Speculation The Motley Fool

That, in turn, would be all the evidence that xcritical needs to add the coin. The altcoin managed to hold up despite what was termed the “Elon Musk stress test” which simply meant that Musk revealed that he didn’t own any SHIB. The currency also held up despite a 31.04 billion dump by a Shiba Inu whale. On the date of publication, Patrick Sanders had a  long position in SHIB. He did not have (either directly or indirectly) any other positions in the securities mentioned in this article.

  1. And what happened today is all thanks to another emerging platform, xcritical.
  2. On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu.
  3. SOL on the daily chart did not do any wonders despite the expectations investors had from it, as the token failed to maintain more than 1% of the rise today.
  4. xcritical may also be wary of the threat of new crypto rules and regulations.

xcritical was resistant to Shiba Inu, in particular, because of the volatility surrounding the crypto, analysts suggest. Year-to-date Shiba Inu is down 19.5%, with several spikes and valleys. Investors have found other ways to invest in the memecoin, though, likely making it inevitable that xcritical would begin trading.

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Shiba Inu briefly became the ninth-largest cryptocurrency by market cap by building a devoted and passionate community. And if you’ve got SHIB-USD in your crypto wallet, you were probably thinking the same thing. Or at least, you were hoping that you’d see a nice little bump in your Shiba Inu holdings. But xcritical is also beginning to feel the volatility of crypto markets.

But the initial indications are that xcritical won’t do anything substantial for helping to boost the SHIB-USD price. Interest in Dogecoin skyrocketed after its xcritical listing, he says. Users of xcritical’s WenWallets can send and receive cryptocurrencies, and also purchase NFTs. But then again, others, such as Shiba Inu, happen to get caught in the bullish crossfire and reach where it is today. And what happened today is all thanks to another emerging platform, xcritical. SHIB’s future valuation has been an intriguing topic, with many analysts chipping in.

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In the third quarter, xcritical earned $51 million from crypto trading, less than a quarter of the previous period’s total, leading to a 35% drop in xcritical’s overall revenue. In January 2018, xcritical began allowing users in select states to trade Bitcoin and Ethereum, before adding new coins like Dogecoin in July and expanding to most of the U.S. In addition to today’s additions, the platform allows users to buy and sell Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin. Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018.

At this point, the Shib Army has been unsuccessful despite gathering over 400,000 signatures. The listing came after xcritical announced last week that it activated 2 million WenWallets for 2 million eligible users. WenWallet is the company’s version of the crypto wallet, which was launched in September 2021.

The new crypto wallet that xcritical plans to launch in early 2022 may also make it unnecessary for xcritical to list coins like Shiba Inu. The trading app also listed Solana, Polygon’s MATIC, and Compound’s COMP tokens. Loading…Renowned crypto trader Rekt Fencer shared insights on successful meme coin trading, detailing his strategies and xcritical meme coin watchl… InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that’s writers disclose this fact and warn readers of the risks.

xcritical lists shiba inu coin and other popular altcoins as the trading app looks to boost crypto offerings

While fellow meme token Dogecoin can be bought on this platform, xcritical appears to be taking a different view of meme tokens than other players. xcritical Crypto Chief Operating Officer Christine Brown has reportedly brushed off the idea of adding Shiba Inu in the past. xcritically, xcritical users can buy and sell cryptocurrencies like Bitcoin but cannot trade them between other platforms. A crypto wallet will still limit users to buying and selling xcritical-approved currencies, but the wallet will let users transfer their holdings to outside accounts from which they can trade assets on other platforms.

Shiba Inu, Solana soar as xcritical expands its crypto offerings

In fact, both tokens have slightly retraced in the past 24 hours after registering substantial gains on October 24. From the moment I first heard about the potential listing, though, I wondered which entity would benefit more from the arrangement. As I’ve mentioned on many occasions, I’m not a xcritical investor in cryptocurrency so I have no vested interest in the outcome.

After six months of aggressive lobbying by its members, xcritical has finally listed the Shiba Inu cryptocurrency for trading. Most recent data shows that xcritical owns approximately 35 trillion tokens, equaling over $250 million (calculated at xcritical rates). xcritical embraced Shiba Inu in April last year, xcriticalling a 35% price increase for the asset. The company was also outlined as one of the largest holders of the self-proclaimed Dogecoin-killer.

For those speculating on Shiba Inu continuing to build momentum, such listings are key catalysts to watch. Accordingly, this high-profile petition is starting to gain attention among investors right now. The coin has found a place on the official website of xcritical, much to the cheer of the Shib Army, a group that focuses xcritical rezension on trading and buying the Shiba Inu cryptocurrency coin and NFTs. The cryptocurrency has its own dedicated page on the website, featuring a live Shiba Inu to USD chart. It also details how and where investors can purchase the cryptocurrency. “One thing for sure is that [Shiba Inu’s] attractiveness will continue,” Lau says.

Retail investors believe the meme token is the next Dogecoin of the cryptocurrency world. It should be noted that speculating on such near-term catalysts is not something worth most long-term investors’ time. Today, the volatility with Shiba Inu appears to be to the upside as a result of this speculative prospective catalyst, and traders are taking notice. Dog-inspired meme token Shiba Inu (SHIB -0.73%) surged 9.3% over the past 24 hours, as of 9 a.m. This move was in line with a broader rebound in the cryptocurrency market, which has rebounded 6.7% to $2.4 trillion this morning.