GenshinShibln (GSHIB), the latest meme coin in the market, is up 380% in the last 24 hours with a trading volume of over $1 million after PancakeSwap listing.
At its current price of $0.00000004087, it is only 2.64% shy of the all-time high (ATH) of $0.000000001122.
The coin is one among the few cryptocurrencies that are on the rise as the majority of cryptocurrencies including Bitcoin (BTC) nosedive.
What Is GenshinShibInu?
GenshinShibln (GSHIB) is an Artificial Intelligent (AI) rebase and reward token on the Binance blockchain that adjusts the supply based on the market conditions.
GSHIB users will now be able to get rewards in SHIB by holding and staking GSHIB, which will be another way of encouraging traders and investors to buy tokens.
Investors can also purchase GenshinShibInu on PancakeSwap after the recent listing.
Why is GSHIB Price Rising?
The current hype in the market is due to the recent listing on PancakeSwap on November 15th.
The coin is relatively new in the crypto market and its early listing on PancakeSwap could propel it to higher prices in the coming weeks and months.
Due to GSHIB’s AI rebase protocol, the true market cap is not yet defined, and calculating it might not give a very accurate figure like for the other tokens.
Nonetheless, the fully diluted market cap for GSHIB is about $38 million.