ShibaSwap, Shiba Inu Token Exchange Platform, Live Now

Within hours of the launch of the ShibaSwap, the currency witnessed a 3 percent surge in prices.

By Edited by Gadgets 360 Newsdesk | Updated: 7 July 2021 12:15 IST

ShibaSwap, Shiba Inu Token Exchange Platform, Live Now

Photo Credit: Screenshot

Shiba Inu tokens were launched as the Dogecoin killer

Highlights

SHIB tokens now have their own exchange ShibaSwap
Shiba Inu cryptocurrency was launched as the Dogecoin Killer
Its price went up by 3 percent in 24 hours after the ShibaSwap launch

Shiba Inu, the Dogecoin spinoff, on Tuesday, launched ShibaSwap, its own decentralised cryptocurrency exchange. Founded less than a year ago, the Shiba Inu token had branded itself as a "Dogecoin killer". Interestingly, the Shiba Inu face-themed crypto token with the symbol SHIB, which has seen significant growth in the last few months, also started as a meme joke which transformed into one of the most talked-about digital currencies. ShibaSwap's launch comes roughly two weeks after billionaire Elon Musk tweeted about the digital token is noteworthy. On June 25, the Tesla CEO, who has been enthusiastically promoting Dogecoin, wrote: "My Shiba Inu will be named Floki." One tweet from Musk was enough to take Shiba Inu stocks to rise by 16 percent.

My Shiba Inu will be named Floki
— Elon Musk (@elonmusk) June 25, 2021

On its website, Shiba Inu said that its platform gives users the ability to DIG (provide liquidity), BURY (stake), and SWAP tokens to gain WOOF Returns through its "sophisticated and innovative passive income reward system". The platform gives ShibArmy access to upcoming NFTs. Among other additional tools, the ShibaSwap offers portfolio trackers, making navigation through the crypto world simple and intuitive. This comes at a time when the cryptocurrency market has generally slowed, although the SHIB price in INR has gone up 3 percent in the last 24 hours.

Wen swap.... #ShibaSwap is now live! https://t.co/h2JK14m1PD #ShibArmy
— Shib (@Shibtoken) July 6, 2021

Soon after the creators of the currency announced the launch of their own crypto platform, people on Twitter showed excitement, which also indicated how eagerly they all were waiting for this moment. This Twitter user, for instance, couldn't contain their happiness:

Can't believe it.. Thanks @ShytoshiKusama @RyoshiResearch @Shibtoken

And most importantly thanks for proving me WRONG. This is the 1st time I'm this much happier to admit THANK GOD I WAS WRONG ❤️❤️❤️#SHIBASWAP is live and kicking dog???????? pic.twitter.com/9E9WG4fmSK
— Crypto Man Newz (@CryptoManNewz) July 6, 2021

"Today is the Day. Go bury everyone," wrote another user.

Today is the Day! Go Bury everyone ???? #ShibaSwap #ShibaArmy #shib #shib https://t.co/DEy2IfL85u
— SYD (@sydart_media) July 6, 2021

Here are some more reactions to the launch of the platform.

YEESSSSSSSS!!!! https://t.co/4X5souUAez
— Ras3c (@Csar996) July 6, 2021

#ShibaSwap is love nd it will take Shiba Inu to the moon . https://t.co/r7mKEQQSLC
— Mohammad Azlaan (@Azlan25088325) July 6, 2021

Congrats on the highly anticipated #ShibaSwap launch @Shibtoken and #ShibaArmy! It couldn't have been easy with all the FUD and Doubters! ????????????#shiba #memetoken #Crypto #cryptocurrency #CryptoNews https://t.co/285SnJBb1h
— Crypto Zarrius (@CZarrius) July 6, 2021

Thank you Dev's, @ShytoshiKusama, and @certikorg for all of your hard work and devotion on this masterpiece. It is incomparable and truly changing lives. ???????????????????????? https://t.co/LojsdvtI1E
— Eric Martin Smith (@EricMartinSmith) July 6, 2021

Within hours of the launch of the Shibaswap, the currency witnessed a 3 percent surge in prices. Shiba Inu, which has a market cap of roughly $3.5 billion, is currently trading at Rs .000636 in India.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.