New Doge? Shiba Inu's (SHIB) Price Grows By 150% As Major Crypto Exchanges List It

Shiba Inu SHIB/USD nearly doubled its value over the last 24 hours after the world's top cryptocurrency exchange Binance announced that it would list it.

What Happened: According to CoinMarketCap data, Shiba Inu is about 1,000% up after getting the Dogecoin DOGE/USD treatment and skyrocketing for no apparent reason. On Monday, the Ethereum-based ETH/USD token saw its price increase by 149% from its 24-hours low of 0.000012% to its current price of $0.00003212 following Binance's listing announcement.

See also: How to Buy Shiba Inu (SHIB)

Binance explains that Shiba Inu "is an experiment in decentralized community building and another meme coin similar to Dogecoin" that also works as the incentive for using its dedicated decentralized crypto asset exchange ShibaSwap.

See also: Shiba Inu And 9 Other Dogecoin Inspired Cryptocurrencies You Should Know About

The exchange also warns that the top #1, #2 and #5 wallets hold 50.5%, 7.0%, and 3.0% of total supply, respectively — meaning it takes a single user to cause a severe crash in price.

What Else: According to the project's official Twitter account, Shiba Inu has already been listed on other cryptocurrency exchanges KuCoin, OKEx, and by a crypto firm Crypto. com.