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Dogecoin

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

by Miki 11/25/2021
by Miki 11/25/2021 0 comment

Popular meme coin Shiba Inu has marked yet another milestone following its immense success this year. The meme coin which was created as a rival for top meme coin Dogecoin has found its way out of the shadow to its greatest rival. Now, Shiba Inu is standing on its own feet while making strides in the meme coin space.

The digital asset has garnered what could be described as a cult-like following behind it since it hit a new all-time high back in October. It has scored multiple listings on top exchanges such as Coinbase, Binance, and Kraken. In addition to being adopted as a payment method by prominent merchants. This time, Shiba Inu has scored another notch in its cap with a new listing in one of the strictest crypto climates globally.

Related Reading | Regal Cinemas Mirrors AMC As It Accepts Dogecoin, Others For Tickets & Concessions

Shiba Inu Lists On South Korean Exchange

South Korea has built up a reputation for having some of the most stringent laws surrounding cryptocurrencies. Similar to Japan, getting a digital asset listed on a cryptocurrency exchange in the region involves a mountain of paperwork and the process could take years. However, Shiba Inu has managed to do what many, well-established projects could not do and that is get listed on a South Korean crypto exchange.

Shiba Inu officially began trading on Korbit exchange on Wednesday, 24th November. Korbit is a South Korean crypto exchange that provides buying, selling, and trading services for crypto investors in the region. The exchange is only one of a few that survived immense regulatory pressures that saw 40 exchanges shutter their doors in September.

Related Reading | Ripple CEO Blasts Dogecoin, Questions Its Benefit To The Crypto Market

The announcement came on Tuesday where the exchange stated that it would be listing the meme coin alongside another digital asset Injective Protocol (INJ). This was followed by an airdrop where customers received 360,000 SHIB for creating and depositing Shiba Inu on the exchange.

Suffering In The Midst Of Good News

Despite news of the listing making the rounds, the price of Shiba Inu has not recorded any significant upward momentum. Instead, the digital asset has continued to dump in price, losing over 50% of its all-time high. This is the lowest the asset has been in almost a month and there does not seem to be any sign of recovery soon.

Shiba Inu price chart from TradingView.com

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

Shiba Inu is not alone in this though. The crypto market has suffered heavy losses in the past few weeks, with bitcoin losing over $10K off its price in the same time frame, leading to a trickle-down effect that has affected most altcoins.

As November draws to a close, the market looks to be headed in the direction of a bear market.

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

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

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      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

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      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

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      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

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