Benzinga - Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) started the week on a positive note as Japanese crypto exchange, BitTrade announced adding the meme coins.
Amid widespread acceptance of tokens at exchanges, regulatory compliance changes and an expected approval for Spot Bitcoin ETF, could this news push token prices higher?
Find out more on meme coins and their price trajectories. Meet and engage with other transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event: Future of Digital Assets. Tickets are flying: Get yours!
What Happened: BitTrade issued an official statement that deposits, withdrawals, buying and selling of crypto assets Dogecoin and Shiba Inu will commence on its exchange, effective Oct. 18, 2023.
This will take the total number of the exchange's crypto assets to 34 cryptocurrencies. The transactions will be limited to physical items only. There is no assurance that the effective date mentioned will be the final one, stated BitTrade.
Shiba Inu’s burn rate witnessed a significant surge of more than 270% within the past 24 hours. It marks a huge 48 million SHIB tokens burnt that were permanently removed from circulation.
Read More: Swiftie Lift For Shiba Inu? SHIB Burn Rate Rockets 270% As 'Eras Tour' Accepts Meme Crypto Alongside Bitcoin, Ethereum, Dogecoin Payments
Shiba Inu Heads Strong, Dogecoin Favoured, Too: Shiba Inu’s L2 blockchain Shibarium’s acceptance across the community is strong as several transactions, wallets and verified contracts saw major growth levels. Since its mainnet launch on Aug.16, 2023, 3.45 million transactions were processed while daily transactions have been around 10,000 since Oct.9, 2023, as reported by The Crypto Basic. Also, since its launch, Shibarium has seen interaction with over 1.254 million addresses.
Currently, Shibarium has 27,293 registered accounts. Verified contracts on the network peaked at 18.4% to 710 in only one week. The contract growth on Shibarium stands at 11,284, with an average of 60 new contracts daily.
Billionaire Elon Musk favored-Dogecoin claimed to have a significant sum of Dogecoin wallets with unrealized earnings. The top 100 wealthiest DOGE addresses control around 47% of the token’s total supply and the leading address holds 23.5% of the coin, as reported by CryptoNewsZ. Around 80% of DOGE is controlled by wallets, with balances ranging from $1 million to more than $10 million.
Price Action: At the time of writing, in the past 24 hours SHIB saw a 1.4% increase while DOGE saw 0.8% growth. DOGE is at $0.0602 and SHIB is at $0.000007116, on Monday afternoon.
Also Read: Dogecoin's Path To $1: Analyst Sees This Critical Breakthrough As Bull Run Trigger
Benzinga's Future of Digital Assets conference is scheduled for Nov. 14. Attend and learn more about will Bitcoin Spot ETF receive approval. Will this lead to a rally in Bitcoin followed by the other meme coins? The gathering is seen as pivotal for the digital assets community. The event will spotlight the latest trends, innovations, and challenges in the digital asset realm.
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