Shiba Inu, the popular meme coin, has reached another milestone following its enormous popularity this year. The meme coin that was developed as a rival to the leading meme coin, Dogecoin, has emerged from the shadows to become its biggest opponent. Shiba Inu is now able to stand on its own while making inroads into the meme coin arena.
Since reaching a fresh all-time high in October, the digital asset has attracted a cult-like following. It has been listed on several major exchanges, including Coinbase, Binance, and Kraken. Aside from being accepted as a payment option by well-known merchants. This time, Shiba Inu has added another feather to its crown with a new listing in one of the world’s most stringent crypto climates.
https://twitter.com/ShibainuCoin/status/1463670874050019328
South Korea has earned a reputation for having some of the most severe cryptocurrency legislation. Getting a digital asset registered on a cryptocurrency exchange in the area, similar to Japan, entails a mound of paperwork and might take years. On the other hand, Shiba Inu has accomplished what many well-established projects have failed to do: it has been listed on a South Korean cryptocurrency market.
Shiba Inu began trading on the Korbit platform on Wednesday, November 24th. Korbit is a South Korean cryptocurrency exchange that offers regional cryptocurrency investors buying, selling, and trading services. The market is just a handful that has remained open in the face of intense regulatory demands, which forced the closure of 40 exchanges in September.
On Tuesday, the exchange said that it would offer the meme coin alongside another digital asset, Injective Protocol (INJ). Following this, clients got 360,000 SHIB for generating and depositing Shiba Inu on the exchange.
Despite the fact that word of the listing has spread, the price of Shiba Inu has not risen significantly. Instead, the digital asset’s price has continued to fall, shedding more than half of its all-time high. This is the lowest asset in a month, and there is no prospect of a quick rebound.
However, Shiba Inu is not alone in this. The crypto market has experienced significant losses in recent weeks, with bitcoin losing over $10,000 in the same time frame, resulting in a trickle-down effect that has damaged the majority of altcoins.
As November concludes, the market appears to be heading in the path of a bear market.
