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Shiba Inu Is Outperforming Bitcoin in 2024, and It’s Not Even Close But Does That Make It a Buy? The Motley Fool

Shiba Inu Is Outperforming Bitcoin in 2024, and It’s Not Even Close But Does That Make It a Buy? The Motley Fool

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Please read the full list of posting rules found in our site’s Terms of Service. Trading at $123.2, it did not manage to recover the fall from yesterday but traded better than the likes of Solana and Polygon. For now, “investors are finding ways to purchase SHIB even without the use of xcritical,” Khoo says, and its growth may mean that xcritical can’t ignore it forever. The first step to buying Shiba Inu (SHIB) is to register an account if you don’t already have one.

Shiba Inu (SHIB) Whale Receives 445.86 Billion Tokens from xcritical

They do not charge brokerage commissions for stocks, options, and cryptos. By the way, Webull also does the same, and they already allow trading in Shiba Inu. Both xcritical and Webull use Apex Clearing and Apex Crypto. The Lightning Network is a layer-2 network built on Bitcoin that allows speedier transactions at a much lower cost.

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On May 28, the whale received 275 billion SHIB worth $7.6 million from xcritical. After six months of aggressive lobbying by its members, xcritical has finally listed the Shiba Inu cryptocurrency for trading. As InvestorPlace’s Chris MacDonald reports, there are a slew of reasons for the bullishness on Shiba Inu.

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Members can use the wallet to buy NFTs, send crypto to other crypto traders with no withdrawal fees, but it can’t hold NFTs and is limited to cryptos that xcritical trades. The launch of the meme coin Thursday was part of a larger expansion of the trading app’s crypto offerings. Solana (SOL), Polygon (MATIC) and Compound (COMP) are also now listed on the site. The company is xcritically testing its crypto wallet, which will allow users to move crypto assets on and off the platform with ease. Indeed, the company’s executives have reiterated numerous times its plans to expand its crypto tools, including the coins which it will offer in the future.

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Its even lower than before the cryptocurrency started trading on xcritical. The whole point of listing Shiba Inu on xcritical was to make it more accessible to traders and trading volume would help push shares closer to a penny. At a price of roughly $69,000, Bitcoin is very much determined by supply and demand. In contrast, the prices of Shiba Inu and most meme coins are merely a reflection of their xcritical sentiment on social media.

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. Well, following Dogecoin’s https://xcritical.pro/ approval from multiple billionaires, amateur retail investors poured into the token. This resulted in outsize momentum fueling the price of Dogecoin, leaving many investors as bag holders.

  1. On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu.
  2. So if the coin could crack the top 10 of cryptos in about one year without being traded on xcritical, it’s logical to assume a xcritical listing could serve as rocket fuel for SHIB.
  3. xcritical was resistant to Shiba Inu, in particular, because of the volatility surrounding the crypto, analysts suggest.
  4. Solana (SOL), Polygon (MATIC) and Compound (COMP) are also now listed on the site.

DOGE holders are wagging their fingers (certainly not their tails) at xcritical because it is delaying access to the latter’s digital wallet. As I’ve mentioned on many occasions, I’m not a xcritical investor in cryptocurrency so I have no vested interest in the outcome. 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.

As of today, the Change.org digital petition was still live and had 559,701 signatories — more than halfway to its target of 1 million. It’s difficult to tell whether xcritical the lobbying activity or petition had any effect. The whale has been accumulating SHIB tokens from xcritical and Zero Hash, a platform that supports crypto payments.

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. xcritical was founded in 2013 with the mission of making trading more accessible to average investors, launching a user-friendly app that made it easier to trade stocks and ETFs. Unlike Dogecoin (DOGE), Shiba Inu is trying to build a larger ecosystem. This goal includes ShibaSwap, a decentralized finance (DeFi) platform built around SHIB. ShibaSwap gained over $1 billion in Total Value Locked (TVL) within 24 hours of its release. This platform is a competitor to Uniswap, a popular decentralized exchange platform.

Thus, those looking to enter the SHIB market now should watch out for these signals before making a decision. Within the day, SHIB began climbing the charts, and in less than 2 hours, its price shot up by almost 36.88% at one point. However, it came back down soon after to close on a 15.8% rise, and in doing so, it negated the 9% fall in price from the day before. As the announcement came to light, it took less than a few hours for the hype surrounding the news to reflect on the assets’ price action, and as always, Shiba Inu was the first to react. As crypto adoption grows, we witness the rise of xcriticals and Decentralized Finance (DeFi) protocols which have an impact on the growth of the crypto space.

So if the coin could crack the top 10 of cryptos in about one year without being traded on xcritical, it’s logical to assume a xcritical listing could serve as rocket fuel for SHIB. Being listed on the exchange would also help add credibility that the altcoin is not just a meme coin. So if the coin could crack the top 10 of cryptos in about one year without being traded on xcritical, it’s logical to assume a xcritical listing could serve as rocket fuel for SHIB. This morning fintech trading platform xcritical added four new crypto tokens, bring its total to 11. The new offerings are high-flying Ethereum competitor Solana (SOL), the dog-themed meme-coin Shiba Inu (SHIB), Ethereum scaling technology Polygon (MATIC), and the original decentralized finance token Compound (COMP). News of the additional offerings comes days after xcritical made its crypto wallet available to 2 million waitlisted users, allowing them to more directly interact with cryptocurrencies.

Anna Yen, CFA is an expert crypto writer with over two decades of professional finance and writing experience in roles within JPMorgan and UBS derivatives, asset management, crypto, and Family Money Map. She specializes in writing about alternative investment topics ranging from derivatives to cryptocurrencies. Her work has been published on sites like the crypto exchange Bybit. After six years of personal experience investing in crypto, she prefers BTC, ETH, and SOL. EToro is an innovative trading platform recommended for traders with deep knowledge and experience.

This is, in turn, forcing SHIB up in a huge way, creating gains of well over 200% in the last month. Nevertheless, apart from SHIB, all the other assets ended up performing disappointedly. The only coin out of the four, other than SHIB, that fared well was the DeFi token Compound which maintained a 5.22% rise of the 10% ceiling. “One thing for sure is that [Shiba Inu’s] attractiveness will continue,” Lau says. A listing would give SHIB “greater retail exposure,” says Khoo.

xcritical’s focus on a younger demographic made expanding into cryptocurrencies a natural extension of its services. Over 1 million people—representing a third of xcritical’s users at the time—signed up to join a wait list before xcritical launched crypto trading in 2018. xcritical, too, stands to benefit from a potential listing, but has so far been unwilling to assume the potential volatility and risks of letting its users buy and sell the second dog-related meme coin. Shiba Inu is unlikely to reach 1 cent — expert price predictions for SHIB do not expect the token to rise to that level.

The Shiba Inu is a Japanese breed of dog that originated around 2,300 years ago. In the context of crypto, Shiba Inu is a meme coin-based ecosystem launched in 2020 by an anonymous person or group named Ryoshi. It was inspired by the success of Dogecoin, another meme coin with a dog as the primary icon. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others.

Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. Chris Markoch is a freelance financial copywriter who has been covering the market for seven years. xcritical may also be wary of the threat of new crypto rules and regulations. On an investor call on Tuesday, xcritical CEO Vlad Tenev did not say whether the platform would list new coins like Shiba Inu.

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The nearest airport is Murtala Mohammed International Airport, 30 minutes’ drive away.

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Each room at Demiral Hotel (The Place) has a spacious bathroom, king-sized bed, cable connected TV set, a study desk, refrigerator, bedding items and air conditioner.

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Interesting Places Near Demiral Hotel at The Place Surulere

Places of interest close to this hotel include Adeniran Ogunsanya Mall, Leisure Mall, National Stadium and Bode Thomas Field.

 

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  • Bar and Lounge within the vicinity
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  • Check Out: By 12:00 PM
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Guests can enjoy a variety of intercontinental and local cuisines from The Place Restaurant downstairs and an exclusive view of the Alausa environment at the rooftop lounge.

Each room at Demiral Hotel (The Place) has a spacious bathroom, king-sized bed, cable connected TV set, a study desk, refrigerator, bedding items and air conditioner.

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Places of interest close to this hotel include Ikeja City Mall (Shoprite) and Murtala Muhammed International Airport.

 

Services available:

  • Free WiFi
  • Laundry & Dry-cleaning services (Additional Charges)
  • Parking included
  • Restaurant within the vicinity
  • Bar and Lounge within the vicinity
  • 24 hour Receptionist & housekeeping and Intercom

 

Hotel Policy

  • Check-In: From 2:00 PM
  • Check Out: By 12:00 PM
  • Required: a valid ID Card
  • Children: Children are allowed
  • Pets: No Pets are allowed
  • Payment: Cash, Card or Transfer