The first day of Gemini enabling Shiba to be traded has been quite a success as Shiba is straight in at number 7! Doge languishes at number 15 to give a comparison.
Shiba is number 7 in first day of trading with Gemini.
This is just the beginning of Shiba becoming a serious investment proposal. The power of the Shiba army in the social media space is truly the best in the world right now. It sets its self above the rest as remember we do not have a marketing cost or tax when we buy or sell our coin unlike other cryptos that have just started to launch.
So Shiba in the first day did (is doing) $4.1m. This is impressive since Bitcoin is at $73.5m and ETH is at $66.9m, that's 17.9 and 16.3 times greater respectively. Bitcoin market cap is $1.2T and ETH is at $541B, whilst Shiba is at $29.5m. Let's do some quick maths to see what Shiba market cap could be based on this simple one day trading on Gemini:
$1.2T divided by 17.9 = $67.0B
$541B divided by 16.3 = $33.1B
That's rather interesting as it would put the market cap of Shiba Inu between $33.1B to $67.0B.
Let's have a look at Binance and see where we are on the number 1 exchange for Shiba.
Isn't this just amazing, we are number 4 for the SHIB/USD currency pair, we also have other currency pairs on there such as SHIB/BUSD ($176m).
So we are number 4 on Binance, lets check out where we are with Coinbase who are the 2nd largest Shiba exchange according to CoinMarketCap (all figures are from coinmarketcap in this post).
Wow Shiba is number 4 again at Coinbase!
Isn't this just amazing, in terms of trading we are number 4 at Coinbase as well. These are the top 2 crypto exchanges for Shiba and in both of them we are trading at number 4.
Surely we can't be at number 4 on crypto.com exchange where I first bought Shiba? If we are at number 4 then this will be something that will surprise me.
As you are reading this I am quite surprised right now at the consistency of Shiba Inu. When I first started this today I was not expecting to see Shiba being ranked 4th especially after the plateau that we have experienced over the past week or so. This undoubtedly must prove that Shiba is consistently great performer for these exchanges.
So as it is the first day of trading at Gemini, lets look at the figures again and see where Shiba would fit at number 4. I'm reposting the 1st image again to save me and you scrolling up and down.
Gemini seems to be heavily in favour of the two heavyweight cryptos - BTC & ETH. If Shiba were to rise to number 4 it would be trading between $4.75m and $6.21m. This doesn't seem much, but if you think Gemini may also benefit from other trading Shiba attracts to its platform. Let me focus on something for a second, Decentraland is peaking due to recent events such as Meta/Facebook announcement and the NFT/Sotheby's virtual auction - this will remove Decentraland from Top 4 position within the next few days.
I am going to state that Shiba will be number 4 on here soon too maybe within a week we will be number 3, it just has to because the other exchanges are also a cross section of the crypto investment world so looking at it from this view we will soon be there, here is the link do check up on it:
https://coinmarketcap.com/exchanges/gemini/
Oh wow, this is quite uncanny. Here is the latest update of Gemini as I have been making this post.
Already bumped up to 5th place.
I haven't even finished making this post and we are already at 5th position.
Now why am I reviewing the 17th largest exchange for Shiba and dedicating a post to it?
The pure simple reason is the Winklevoss twins who own Gemini (clever idea to name the company that)! These are the two guys who sued Mark Zuckerberg, I won't go into details but they have a very high profile in the crypto world and well regarded by investors as they correctly predicted the popularity of Bitcoin and the subsequent involvement of cryptos by investment firms. This will begin to attract the eye of the investment world.
Shiba is a Top tier crypto, don't let anyone tell you otherwise, the proof is within these screenshots and can be found by anyone reviewing CoinMarketCap. We have no choice at this rate but to become a Top 5 crypto... I placed a bet with my brother that Shiba could enter the Top 5 by my birthday in March (minus the stablecoins).
Wow breaking news as I am writing this post:
I think I will end the post there as we are going to see a price rise now, this is exactly what I have been discussing here on these posts. Shiba Inu is transitioning into a currency from an investment and the mass adoption will mean substantial price increases... remember Amazon started with books. Shiba may start with a cinema ticket...
Thank you for reading my posts, I really do enjoy writing them and truly appreciate all the positive feedback.
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