Popular meme coin Shiba Inu has actually marked yet another turning point following its enormous success this year. The meme coin which was produced as a competitor for leading meme coin Dogecoin has actually discovered its escape of the shadow to its biggest competitor. Now, Shiba Inu is basing on its own feet while making strides in the meme coin area.
The digital possession has actually amassed what might be referred to as a cult-like following behind it considering that it struck a brand-new all-time high back in October. It has actually scored numerous listings on the top exchanges such as Coinbase, Binance, and Kraken. In addition to being embraced as a payment technique by popular merchants. This time, Shiba Inu has actually scored another notch in its cap with a brand-new listing in among the strictest crypto environments internationally.
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Shiba Inu Lists On South Korean Exchange
South Korea has actually developed a track record for having a few of the most rigid laws surrounding cryptocurrencies. Similar to Japan, getting a digital possession noted on a cryptocurrency exchange in the area includes a mountain of documentation and the procedure might take years. However, Shiba Inu has actually handled to do what lots of, reputable tasks might refrain from doing which is get noted on a South Korean crypto exchange.
Shiba Inu formally started trading on Korbit exchange on Wednesday, 24th November. Korbit is a South Korean crypto exchange that supplies purchasing, selling, and trading services for crypto financiers in the area. The exchange is just one of a couple of that made it through enormous regulative pressures that saw 40 exchanges shutter their doors in September.
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The statement began Tuesday where the exchange specified that it would be noting the meme coin along with another digital possession Injective Protocol (INJ). This was followed by an airdrop where clients got 360,000 SHIB for producing and transferring Shiba Inu on the exchange.
Suffering In The Midst Of Good News
Despite news of the listing making the rounds, the rate of Shiba Inu has actually not taped any substantial upward momentum. Instead, the digital possession has actually continued to dispose in rate, losing over 50% of its all-time high. This is the most affordable the possession has actually remained in nearly a month and there does not appear to be any indication of healing quickly.
SHIB continues to suffer dips | Source: SHIBUSD on TradingView.com
Shiba Inu is not alone in this though. The crypto market has actually suffered heavy losses in the previous couple of weeks, with bitcoin losing over $10K off its rate in the exact same timespan, resulting in a trickle-down result that has actually impacted most altcoins.
As November wanes, the marketplace seems headed in the instructions of a bearish market.
Featured image from The Economic Times, chart from TradingView.com