Shiba Inu Rises by 5% This Week
Date: 2023-11-20 Author: Dima Zakharov Categories: IN WORLD
Shiba Inu (SHIB) Shows Strong Growth
Shiba Inu, a meme-based token, has emerged as a standout performer in the crypto market this week, witnessing a significant 5% surge since the week commenced. As of the time of this report, SHIB stands at $0.00000874, maintaining a crucial level at $0.000008.
In contrast, Bitcoin (BTC) struggled to hold at $37,000, currently valued at $36,450 per BTC.
Drivers of Growth
The market dynamics have been influenced by developments within decentralized exchange tokens. PancakeSwap's decentralized exchange (DEX) recently introduced a gaming marketplace, akin to Steam, albeit with a limited game catalog, and an NFT marketplace reminiscent of OpenSea or Magic Eden, catering to gamers. With 25,000 daily active users and the potential for third-party game developers to add their games, this launch propelled CAKE token from $2.2 to $2.8, eventually stabilizing around $2.6.
CEX Initiatives
Kraken exchange unveiled the X1 network in collaboration with Polygon's team. X1's native token, OKB, serves as the primary currency within Kraken. Notably, X1 is open to third-party developers, granting users access to Polygon and Ethereum networks.
