Some of the Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) knockoffs are seeing strong gains as of Wednesday night even as Dogecoin and Shiba Inu fell, with one coin surging more than 100%.
What Happened: ShibRWD (CRYPTO: SRWD) is up 117% during the past 24 hours, trading at $0.00000001065 at press time.
The coin has gained more than 120% each against Bitcoin and Ethereum.
For comparison, Dogecoin is down more than 1% during the past 24 hours, trading at $0.1629 at press time. Shiba Inu, the self-described “Dogecoin killer,” has also lost almost 3% over the 24-hour period to $0.00002729.
See Also: How To Buy Dogecoin (DOGE)
Why It Matters: ShibRWD describes itself as an Ethereum (CRYPTO: ETH)-based token that generates dividend in Shiba Inu through reflections.
The token took to Twitter to announce its primary listing on cryptocurrency exchange BitMart, with trading commencing on Jan. 26.
Current investors of the token would have the option to transfer their holdings in the ShibRWD Project to Bitmart.
$SRWD $SRWD Probably nothing just the first #Crypto in history listing on @BitMartExchange that does 6% of every Buy & Sell in #SHIB back to its investors. #altcoin #cryptocurrency pic.twitter.com/tWDS2m3m51
— ShibRewardOfficial (@Shib_Reward) January 19, 2022
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