After this listing, the Shiba Inu is now available for trading on two Brazilian exchanges. Mercado Bitcoin, Brazil’s largest exchange, added Shiba Inu to its platform in December. Some other crypto exchanges in Latin America such as Bitso have also listed Shiba Inu.
When it was first announced on February 9, it had an impact on the pricing of the Shiba Inu. Shiba Inu was the fourth most traded cryptocurrency in 24 hours after Foxbit tweeted the news.
But the listing has not affected the price of the Shiba Inu. This is the reason that in the last 24 hours, the value of Shiba Inu fell by 2.3% to $ 0.00003047. Looking at the price for the whole week, it is also not very encouraging. Its value has declined by 2.3% during this period. This is similar to the general trend of the market, where most crypto assets have seen a slight decline in value.
However, this does not mean that the listing cannot affect the price later. Usually listing a token on a new exchange means more people will have access to it. This will increase its trading volume.
Talking about the crypto market, there was some improvement in the price of bitcoin on Wednesday. It was trading at $45,811 (approximately Rs 34.5 lakh) on the Indian exchange CoinSwitch Kuber, up by 0.35 percent. The world’s most valuable cryptocurrency by market cap, BTC was also trading with gains on global exchanges. The value of bitcoin on CoinMarketCap increased by 0.44 percent, and was worth $44,024 (approximately Rs 33 lakh) at the time of writing this news.
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