Poloniex, a popular cryptocurrency exchange, has announced the listing of Shikoku (SHIK), an offshoot of the meme-inspired cryptocurrency Shiba Inu (SHIB).
According to the announcement, users can begin depositing SHIK tokens on March 8 at 11:00 a.m. (UTC), while trading will commence at 11:40 (UTC) on the same day.
Shikoku (SHIK) is a decentralized meme coin experiment, with the goal of creating the Shikoku Inu Decentralized Ecosystem (SIDE) of applications and tools.
The coin was launched on the Ethereum mainnet on Nov. 7, 2022, at block 15921055. The total supply of SHIK tokens is 1 quadrillion, with no taxes on buying or selling.
Interestingly, Shikoshi, the founder of SHIK, gifted Ethereum founder Vitalik Buterin with 50% of the total supply, or 500 trillion tokens. Shikoshi humbly requested that if Buterin accepts this offer, he burn 47% of the supply, donate 2% of the supply to various charity organizations and keep 1% to spend at his leisure.Recently, there was a sharp drop in SHIK token prices after Vitalik Buterin sold 500 trillion tokens. According to Lookonchain, an arbitrageur made around 96 ETH ($150K) with 14 ETH on SHIK, and an arbitrageur made 89.6 ETH ($140K) with 6 ETH on SHIK. They immediately bought SHIK at very low prices and sold them later.
The SHIK token was named after Shikoku Inu, a Japanese breed of dog from Shikoku island. It was designated by Japan as a culturally important treasure of the nation in 1937. The dog is intermediate in size between the large Akita Inu and the small Shiba Inu.