The competition between “meme” coins is intensifying, especially after Binance added the trading pair: “SHIB-DOGE”
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Answer The competition between “meme” coins is intensifying, especially after Binance added the trading pair: “SHIB-DOGE”
Digital currencies with a “meme” character continue to take center stage in the cryptocurrency market.
There is still a lot of talk about “Dogecoin”, “Shiba In”, “Floki Inu”, etc…
Now, Binance has decided to pit the two leaders of the “meme” market against each other by adding the “SHIB/DOGE” trading pair.
The war between “SHIB” and “DOGE”:
For those who weren’t around when it all started, we remind you that “Shiba Inu” was created at the time of the DeFi boom in 2020.
The official website of Shiba Inu called its new cryptocurrency the “Dogecoin Killer,” creating a story that would eventually pin the two most popular Twitter crypto communities against each other.
Read:In the case of Ripple and the SEC: Ripple demands non-evasive responses from the authority
When Shiba Inu was created, the cryptocurrency had a tiny percentage of the market capitalization of Dogecoin, and not many people thought it was realistic to predict that Shiba Inu would one day be a multi-billion dollar project with a place in the top 10 cryptocurrencies in terms of value. Total market value.
To be reminded once again that anything is possible in the cryptocurrency market, and here we are in November 2021, with the total market capitalization of the “Shiba Inu” project exceeding $40 billion, the ninth largest cryptocurrency, one place above rival Dogecoin. The one she was aiming to kill seems to have started.
Binance adds the “SHIB-DOGE” trading pair:
Today, November 1st, Binance announced the opening of trading for the SHIB/DOGE pair at 08:00 UTC.
Just like any other cryptocurrency trading pair, this pair will go up when the SHIB price goes up relative to the DOGE price and vice versa.
What is more interesting here is that this will allow speculators to directly trade both currencies against each other and will also reveal the value of one in relation to the other.
Which paves the way for a competition just like the one taking place between Bitcoin and Ethereum but on a completely different scale, of course.
Read:Bitcoin price sets a new record in 2020 … How much is left to reach the historical peak?
Read also:
Edward Snowden makes a statement and comments on the “Shiba Inu” coin… Learn about his statements!
Marking the 13th anniversary of the Bitcoin White Paper…13 amazing facts about it!
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