Shiba Inu (CCC:SHIB-USD) has promised to be the “Dogecoin (CCC:DOGE-USD) killer,” but many investors have not been convinced. Today though, the network is giving DOGE a run for its money. A listing on Coinbase (NASDAQ:COIN) as well as Binance (CCC:BNB-USD), coupled with some new upgrade teasers is lifting the token up in a huge way. Now, the SHIB crypto really does stand to overtake Dogecoin as the king of meme cryptos.
It’s been quite a busy week for the Shiba Inu community.
In the last couple of days, the token has seen listing on two of the largest crypto exchanges in the world. Tuesday saw Binance’s announcement that SHIB trading would begin imminently on its U.S. platform. Wednesday saw the actual launch of the listing. Of course, being the largest exchange in the world by transaction volume, the token got a large boost in exposure and accessibility.
Keeping the good times rolling is Thursday’s news, which saw trading begin for Shiba Inu on the Coinbase platform. Coinbase, the second-largest crypto exchange in the world, just recently added SHIB to its Pro platform after months of delay. Now, Shiba Inu is moving into the big leagues on the main Coinbase platform.
Exchange Listings, Layer 2 Teasers Help SHIB Crypto Overtake DOGE Volume
Beyond the two listings, the SHIB crypto is also seeing increasingly bullish sentiment surrounding coming updates. The SHIB founder, Shytoshi Kusama, is taking to the crypto network’s Discord server to make a big announcement. Developers are apparently exploring the idea of bringing a Layer-2 solution to the network. By implementing another blockchain layer, developers can boost transactions speeds; this is because transaction data can more efficiently travel below the surface in its own layer.
The new plans for the network, alongside the huge exchange listings, is launching SHIB into space. The token is up 32% in value this morning. And the broad exposure the two new exchanges grant SHIB is paying off significantly. In fact, the token is passing Dogecoin in average trading volume this morning. Where DOGE saw $2.2 billion in transactions over the last 24 hours, SHIB is now seeing $2.6 billion. The surge in popularity is also making Shiba Inu the No. 1 trending crypto on CoinMarketCap.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.