Shiba Inu coin, popularly referred to as “DOGE Killer,” has displayed an incredible bullish momentum thanks to listings on leading crypto exchanges, including MXC. In the past week alone, SHIB price has massively soared by over 2 260%, reaching a new all-time high price of $0.0003495, climbing to position 17 in the crypto market rank. At the same time, Dogecoin has tumbled by over 36% following Elon Musk's appearance on “Saturday Night Live” over the past weekend.

MXC Exchange-listed SHIB/USDT on April 16, 2021, with an option of margin trading and API trading. Less than a month after its listing, SHIB is the best performing coin on MXC with a 24-hour trading volume of $ 565 M, representing 3.8% of the total 24-hour trading volume from all the listed exchanges, i.e., $22.10B.

Reasons for SHIB Impressive Performance on MXC Exchange

SHIB has performed incredibly well on MXC, with the exchange having the most number of Shiba tokens based on the EtherScan wallet. At the time of writing, users transacted about 14,614,531,446,106.000 SHIB tokens on MXC Exchange. Some of the reasons for SHIB impressive performance on MXC Exchange include:

Supporting Infrastructure- MXC Exchange offers an appropriate environment for trading Shiba tokens with new features added daily. The features include beginner and advanced charting tools and several trade options. These options enable traders to implement their trading strategies seamlessly.

Low Transaction Fees- MXC Exchange charges 0.2% transaction fees on SHIB token trading. The cost is much lower compared to other exchanges that have listed SHIB, including OKEx and Binance, which charge up to 0.5% transaction fee, more than the global average of 0.25%

Fast Transactions- Transactions on MXC Exchange are completed relatively fast, facilitating a better trading experience. The platform handles up to USD 3,000,000,000 daily transaction volume.

About SHIB

Following the massive rally of Dogecoin, several projects have implemented a similar idea, including Doge Killer (LEASH), Akita Inu (AKITA), Weed Doge (WOGE), and the most successful one, Shiba Token (SHIB).

SHIB is an ERC-20 token represented by the Shiba Inu dog breed. It was launched in August 2020 to offer an alternative to Dogecoin and capitalize on its intense bull run. The token started as an experiment in decentralized community-building, allowing users unlimited amounts of the token. Shiba Token and Dogecoin have no connection whatsoever despite both projects using the Shiba Inu “meme” dog as their de facto mascot.

To create value and ensure a fair distribution of tokens, the token creators locked 50% of the total SHIB supply to Uniswap. The remaining 50% got burned by Ethereum co-founder Vitalik Buterin. The move means that even the development team doesn't own tokens to dump to the market; everyone buys from the open market. SHIB is the first token to follow this line.

About MXC Exchange

Launched in April 2018, MXC Exchange is one of the leading crypto trading platforms providing a broad spectrum of crypto services. The services include margin, spot, ETF, derivatives, and leveraged trading and staking services.

The exchange offers the most comprehensive cryptocurrency marketplace where the crypto community, including traders, miners, and institutional investors, can securely manage their digital assets, hedge risks, and implement their trading strategies to maximize gains, reducing investment risks.

MXC Exchange has its native token, MX token, an ERC20 utility token used for device transactions conducted through the MXC Supernode network. The platform has recorded incredible price appreciation over the past months, thanks to the recent developments in the exchange. MX token has just hit an all-time high of $2.95, evidencing real growth on the network. At the time of writing, it trades at $2.54, according to CoinMarketCap

Wrapping Up

SHIB token impressive Bull Run clearly shows that the crypto space isn't shy of canine-themed meme coins. SHIB's remarkable performance on MCX has aided it to become the top coin on the platform regarding trading volume. The token has managed the feat less than a month after its listing, displaying significant growth on MCX. Trade SHIB today on MCX and enjoy low trading fees.