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Shiba Inu announces new strategy for burning SHIB, LEASH and BONE

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  • Shiba Inu has partnered with NowPayments.io to facilitate the burn of a percentage of tokens in each transaction.
  • With the ongoing price rally, SHIB witnesses a spike in on-chain activity.
  • Analysts expect SHIB to continue posting gains, even as DOGE retreats.

Shiba Inu has announced its latest partnership for burning SHIB ecosystem tokens. Popular as the Dogecoin-killer, Shytoshi Kusama has unveiled plans to boost the utility of SHIB, LEASH and BONE. 

Boost in utility and implementation of burn likely to fuel SHIB rally

Shiba Inu has jumped in on nearly every trend in cryptocurrencies since its launch in August 2020. Upgrades in the ecosystem like the launch of decentralized exchange ShibaSwap, a trifecta of SHIB ecosystem tokens (SHIB, LEASH and BONE) and the implementation of burn are key to Shiba Inu’s growth in 2021. 

The Shiba-Inu-themed cryptocurrency announced its recent partnership with NowPayments.io, a platform to accept cryptocurrency payments. Through this move, a percentage of Shiba Inu ecosystem tokens will be burned through every transaction, beginning with SHIB. 

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The community criticized the “fractional burn” since burning a considerable percentage of SHIB will take years. Proponents have proposed the implementation of manual burn to reduce SHIB’s circulating supply faster. 

SHIB traders are awaiting the launch of Shiboshis, the 10,000 NFTs minted on ShibaSwap, burn through NowPayments.io and the project’s foray into gaming. 

The token’s ongoing price rally has increased its market capitalization and on-chain activity. Shiba Inu’s Twitter handle @Shibtoken has crossed 1 million followers. The token now has 720,000 followers based on data from block explorer and analytics platform Etherscan. 

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Shiba Inu token took 14 months to hit a market capitalization of $12 billion, and Dogecoin took over two years to hit the same milestone. Analysts consider SHIB the real Dogecoin-killer. 

SHIB price corrected more than 20% over the past 24 hours. However, analysts have confirmed that there is room to grow. Cryptocurrency analyst @BitQueenBR expects SHIB price to hit an all-time high before further correction.

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FXStreet analysts have evaluated the SHIB price trend and predicted that the memecoin would likely surge to $0.00003000. 

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Shiba Inu still out of Robinhood’s interest? CEO Tenev remains mum

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Shiba Inu [SHIB] emerged as the rival of Dogecoin [DOGE]. This asset garnered immense attention from the globe with its price fluctuation and swift surge onto the top 20. With this, Shiba Inu managed to amass a spot on an array of prominent crypto exchanges. However, one trading platform didn’t show any interest in listing the altcoin.

Robinhood made a lot of news over the last couple of years and this wasn’t for all the good reasons. While the platform got back into form, the CEO of Robinhood, Vladimir Tenev spoke all things crypto during a recent interview with CNBC. However, the one thing he decided to leave out or rather ignore was a question about Shiba Inu’s listing.

Completely steering away from the question about listing the meme coin, Tenev took a rather long pause. The CEO dodged the question and did not decline or affirm the listing of Shiba Inu now or in the near future.

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Furthermore, Tenev noted that the firm intends to focus on safety and has already been upholding the same. At present, Robinhood has a total of seven assets and intends to keep it at this as safety comes first for the platform. He added,

“I think it goes back to safety first. We are not generally going to be the first to add any new asset. We wanna make sure that it goes through a stringent set of criteria.”

The demand for Shiba Inu seemed to be taking off. A petition was filed on Change.org urging Robhinhood to list the altcoin. The petition managed to garner a whopping 286,000 signatures. However, this seemed to make no big difference as Tenev decided to stay mum about it.

Shiba Inu [SHIB] price movement

After surging by over 10.81% throughout the week, SHIB was seen riding the bullish wave over the last couple of hours. At the time of writing, SHIB was trading for $0.00002771 with a 2.94% drop over the last 24-hours.

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The market cap of the altcoin also endured fluctuations over the past couple of days. Currently, the meme coin was in the 20th position with its market cap at $10.8 billion.

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Once SHIB Regains $0.00003, It May Reach New ATH: Candidate for US Senate 2022 Shannon Bray

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U.S. politician Shannon Bray joins the Shiba Inu army, wants to push SHIB back to $0.00003 and higher

Looks like the SHIB community has got itself a new powerful member: U.S. politician Shannon Bray.

Politician from Libertarian party touts SHIB

Candidate for U.S. Senate 2022 Shannon Bray has published a tweet about the Shiba Inu meme cryptocurrency, saying that once it recaptures the $0.00003 zone, it may reach a new all-time high soon after with little resistance.

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Bray has urged the SHIB army to “make some noise” to drive the coin to close Friday with an over 20% rise.

Bray is a Senate candidate from the Libertarian Party. He has worked in the spheres of software development, information security and management.

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Another influencer tweeting Shiba Inu picture

Elon Musk is not the only crypto influencer who likes tweeting pictures of Shiba Inu dogs. David Gokhshtein has now followed Musk’s example, posting a picture of the dog breed that inspired the first Dogecoin and then SHIB and FLOKI as well.

Gokhshtein has been holding Dogecoin and recently tweeted that he had gotten into SHIB and FLOKI too.

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Will SHIB go to $0.01 soon?

Recently, SHIB has been listed by Robinhood app’s rival, Public, and it is now accepted by real estate agency Candoli Propiedades based in Argentina. Besides, the coin has been added by two crypto exchanges—India-based ZebPay and Turkish BtcTurk, both the oldest and biggest platforms in their countries.

The community is expecting Robinhood app to list SHIB as well one of these days, hoping that it would push the price as high as $0.01.

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Robinhood CEO Dodges Question About Shiba Inu Listing

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Robinhood CEO Vladimir Tenev says that he has heard the Shiba Inu community

Robinhood CEO Vladimir Tenev addressed a swirl of rumors surrounding Shiba Inu during his Oct. 21 appearance on CNBC’s “Mad Money.”

When Jim Cramer, the host of the show, asked whether or not the leading online trading app was intending to list the canine meme token, Teven said that he had heard a lot of people in that community. 

Yet, he seemingly dodged the question and refused either to confirm or deny that the listing is indeed going to happen, prompting even more speculation. 

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“Safety first”

After an awkward pause, Tenev went on to mention that Robinhood only offers seven coins and stressed that the company prioritizes safety: 

I think it goes back to safety first. We are not generally going to be the first to add any new asset. We wanna make sure that it goes through a stringent set of criteria. 

As reported by U.Today, Robinhood competitor Public.com added support for Shiba Inu earlier this month. 

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Coinbase, America’s premiere crypto exchange, added support for SHIB in September. 

285 000 signatures 

In the meantime, a Change.org petition to post the Shiba Inu cryptocurrency on Robinhood has now surpassed 285,000 signatures. 

Tenev’s recent comment comes after the online brokerage denied making an announcement about listing SHIB, debunking Twitter rumors. 

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With that being said, Robinhood didn’t explicitly state that it wasn’t intending to list Shiba Inu in the future. 

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