The new Shiba Inu (SHIB) dog token was listed on the Binance cryptocurrency exchange yesterday, and users were able to deposit in this coin. However, the unprecedented popularity of the new token created problems for the trading platform.
Changpeng Zhao, founder and CEO of Binance cryptocurrency exchange reportedthat the platform ran out of ETH addresses due to the huge number of people willing to contribute Shiba Inu (SHIB). According to him, this is a historic event for the exchange. Nothing like this has ever happened with any ERC-20 token.
Shiba Inu fever has brought a prize that no other token has ever achieved. In other words, this means that high demand from new users looking to deposit SHIB into their Binance account has resulted in the exchange no longer having wallet addresses to provide. According to CZ, this has never happened with any other listed token.
“I do not advise. The risk is too high, “added the head of Binance.
Some have voiced concerns about $ SHIB listing. We follow users. There is a large number of users demanding it, to the point where we ran out of ETH deposit addresses due to SHIB today. Never happened before for any other ERC20 coin.
Not endorsing it. Super high risk. NFA.
– CZ 🔶 Binance (@cz_binance) May 10, 2021
Canine fever
The Shiba Inu (SHIB) token has settled on the 18th place in the rating of cryptocurrencies with a capitalization of $ 12 billion. The coin has risen in price by more than 60% over the day, and by 1860% over the week. According to CoinMarketCap, the all-time high was reached at $ 0.000036, but on Binance the SHIB rate was currently reaching $ 0.00005. At the time of writing, SHIB is selling for $ 0.000031.
Fashion for pedigree tokens
The overwhelming popularity of the Dogecoin (DOGE) meme cryptocurrency has spawned many imitators. Many dog-named tokens have hit the market, including Husky, Akita Inu, Kishu Inu, and Doge Killer. These coins have risen in price within a day in the range from 60% to 250%.
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