DOGE rival Shiba Inu marked another milestone today as the first meme coin to be listed in South Korea, on the Korbit crypto exchange so let’s find out more in our latest cryptocurrency news today.
The popular meme coin Shiba Inu marked another milestone after its huge success this year and it was created as a rival for the top meme coin DOGE that somehow found its way out of the woods to be its greatest rival and even surpass it in terms of market cap. Now, the DOGE rival Shiba Inu is making another milestone after it was listed on the South Korean korbit exchange.
The digital asset gathered quite the following behind it since it hit a new high in October. It has scored a few listings on exchanges like Kraken, Binance, and Coinbase and in addition to being adopted as a payment method by merchants, it got listed on an exchange in one of the strictest crypto regions in the world. South Korea built up a reputation for having harsh laws around cryptocurrencies and similarly to Japan, getting a digital asset listed on a crypto exchange in the region involves a long process with a lot of paperwork and it can take years. However, SHIB managed to pass this process and get listed on Korbit.
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Shiba Inu began trading on Korbit on Wednesday 24th. it is a South Korean exchange that provides buying, selling, and trading services for investors in the region and it is one of the exchanges that survived a harsh regulatory pressure in the region that saw 40 exchanges shut their doors in September. The announcement came back on Tuesday when the exchange noted that it will ist the meme coin alongside other digital assets and it was followed by an airdrop where customers recieved 360,000 SHIB for creating and depositing the coin on the exchange.
Despite the news of the listing, the price of SHIB didn’t receive a boost but continued to dump and lost over 50% of its value. This is the lowest point in almost a month and there doesn’t seem to be a sign of recovery. SHIB is not alone in the fight as the market suffered heavy losses in the past weeks with BTC losing over $10K off the price in the same time frame which led to a tumbling effect that affected almost every altcoin.
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