Home Crypto Dogecoin Rival Shiba Inu Becomes First Meme Coin To List In South Korea

Dogecoin Rival Shiba Inu Becomes First Meme Coin To List In South Korea

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Dogecoin Rival Shiba Inu Becomes First Meme Coin To List In South Korea

Popular meme coin Shiba Inu has marked one more milestone following its immense success this 12 months. The meme coin which was created as a rival for high meme coin Dogecoin has discovered its means out of the shadow to its biggest rival. Now, Shiba Inu is standing by itself ft whereas making strides within the meme coin area.

The digital asset has garnered what might be described as a cult-like following behind it because it hit a brand new all-time excessive again in October. It has scored a number of listings on high exchanges reminiscent of Coinbase, Binance, and Kraken. In addition to being adopted as a cost methodology by distinguished retailers. This time, Shiba Inu has scored one other notch in its cap with a brand new itemizing in one of many strictest crypto climates globally.

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Shiba Inu Lists On South Korean Exchange

South Korea has constructed up a repute for having among the most stringent legal guidelines surrounding cryptocurrencies. Similar to Japan, getting a digital asset listed on a cryptocurrency change within the area entails a mountain of paperwork and the method might take years. However, Shiba Inu has managed to do what many, well-established tasks couldn’t do and that’s get listed on a South Korean crypto change.

Shiba Inu formally started buying and selling on Korbit change on Wednesday, twenty fourth November. Korbit is a South Korean crypto change that gives shopping for, promoting, and buying and selling companies for crypto buyers within the area. The change is just one of some that survived immense regulatory pressures that noticed 40 exchanges shutter their doorways in September.

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The announcement got here on Tuesday the place the change acknowledged that it could be itemizing the meme coin alongside one other digital asset Injective Protocol (INJ). This was adopted by an airdrop the place prospects obtained 360,000 SHIB for creating and depositing Shiba Inu on the change.

Suffering In The Midst Of Good News

Despite information of the itemizing making the rounds, the value of Shiba Inu has not recorded any important upward momentum. Instead, the digital asset has continued to dump in value, shedding over 50% of its all-time excessive. This is the bottom the asset has been in virtually a month and there doesn’t appear to be any signal of restoration quickly.

Shiba Inu price chart from TradingView.com

SHIB continues to endure dips | Source: SHIBUSD on TradingView.com

Shiba Inu is just not alone on this although. The crypto market has suffered heavy losses up to now few weeks, with bitcoin shedding over $10K off its value in the identical timeframe, resulting in a trickle-down impact that has affected most altcoins.

As November attracts to a detailed, the market appears to be headed within the course of a bear market.

Featured picture from The Economic Times, chart from TradingView.com

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