Shiba Inu Gets Listed On Major Japanese Crypto Exchange

The Shiba Inu (SHIB) ecosystem is riding high at the moment as it continues to celebrate several significant milestones. The latest of them happens to be the meme coin being listed by a prominent and leading crypto exchange in Japan. 

Coincheck Lists Shiba Inu

In a press release, Japanese crypto exchange Coincheck announced that it will begin handling the meme coin on its crypto asset trading service. The crypto exchange also mentioned that it will integrate SHIB as a payment currency on its NFT marketplace. Following this listing, SHIB joins a relatively narrow list of cryptocurrencies traded on the platform. 

Coincheck also went as far as to highlight SHIB’s growth in its announcement, something which could have spurred the exchange to list the crypto token. It stated that Shiba inu, which was created as a meme coin, is “progressing,” and “the use cases for its as a currency are expanding.” The crypto exchange specifically alluded to SHIB’s utility in the NFT and DeFi space.

Shiba Inu’s lead developer, Shytoshi Kusama, seemed delighted with this development as he warmly reacted to the crypto exchange’s announcement of the listing on its X (formerly Twitter) platform. SHIB can be said to be a fan favorite among Japanese investors as the crypto token has before now, been already listed on some other Japanese-based crypto exchanges. 

SHIB bears vie for control | Source: SHIBUSDT on Tradingview.com

The Milestones Keep Racking Up

Another significant milestone that Shiba Inu recently celebrated is its layer-2 network Shibarium crossing the 100 million transaction threshold. Network activity on Shibarium has picked up as of late, and it doesn’t seem to be slowing down one bit. At the time of writing, the total transaction count stands at over 1,112,000, according to data from the Shibarium Explorer. 

The development is positive as a surge in the trading activity on Shibarium is ultimately bullish for SHIB’s price. This is because the number of SHIB tokens burned is projected to increase exponentially as network activity continues to increase on Shibarium. More SHIB burns could potentially help increase the meme coin’s price. 

Meanwhile, despite this markable milestone, Shiba Inu’s Marketing Lead, Lucie, is ensuring that the community doesn’t rest on its laurels. In an X post, she urged them to continue to utilize Shibarium and encourage others to use and build on the layer-2 network. She suggested that the community cannot solely continue to rely on the efforts of developers as everyone has a role to play in SHIB’s growth. 

At the time of writing, SHIB is trading at around $0.000009881, down over 2% in the last 24 hours, according to data from CoinMarketCap. 

Featured image from DMARGE, chart from Tradingview.com