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Shiba Inu (SHIB) Gifted in Millions by Top Japanese Exchange as Burn Rate Soars 249%

The Japanese guard dog-themed memecurrency Shiba Inu (SHIB) has finally come home, as Bitpoint announced the listing of the canine coin by the end of November 2022....
Shiba Inu (SHIB) Gifted in Millions by Top Japanese Exchange as Burn Rate Soars 249% © Reuters Shiba Inu (SHIB) Gifted in Millions by Top Japanese Exchange as Burn Rate Soars 249%
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The Japanese guard dog-themed memecurrency Shiba Inu (SHIB) has finally come home, as Bitpoint announced the listing of the canine coin by the end of November 2022. Further on, the Japanese cryptocurrency exchange is preparing a welcome gift of 1,000,000 SHIB tokens for newly registered users. Moreover, according to the official announcement, the one million SHIB giveaway is one out of four campaigns that will run in celebration of the listing.

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Japan’s First Exchange to Pay Homage to Shiba Inu

The powerful woof of the SHIB community has been heard, as Bitpoint is ready to launch SHIB trading pairs on November 30th, 2022. Interestingly, SHIB was nowhere to be found on the Japanese crypto platforms, mainly due to strict regulations and the harsh crypto market conditions for the better part of 2022.

However, fellow Japanese crypto exchange Bitbank listed rival canine coin Dogecoin (DOGE) in August, but that didn’t fully satisfy crypto enthusiasts in Japan. Soon after DOGE’s inclusion, the SHIB Army took to Twitter to pen a petition for several popular Japanese crypto exchanges to finally list SHIB.

Besides the aforementioned 1,000,000 welcome gift, there’s a lottery draw for crypto enthusiasts who buy at least 10,000 yen worth of SHIB tokens. For every 10,000 yen purchase, the customers get a ticket to enter the prize draw to win up to 100,000,000 SHIB.

Things are Heating Up for Shiba Inu

As the SHIB developer team is working on SHIB: The Metaverse, the main developer Shytoshi Kusama is setting up Shibarium, the Layer-2 upgrade. On top of that, Mr. Kusama was invited to join the World Economic Forum (WEF), which provides an opportunity for SHIB to shape the future of the internet.

In accordance with the recent news, SHIB’s burn rate is back on track with a healthy 249% increase in the last 24 hours. According to Shibburn, there were 21 million SHIB tokens reduced to ashes in hopes of raising the coin’s market value.

On the Flipside

  • The accelerated SHIB burn rate doesn’t reflect its market price yet.
  • The popular memecoin is down by 76.5% in yearly terms.
  • SHIB is close to fully retracing its all-time high (ATH) of $0.00008616 set over a year ago.

Why You Should Care

The popularity of memecoins might open doors to quicker crypto adoption in retail.

Find the latest memecoin news:

Dogecoin (DOGE) Reaches 396 Million Users as Twitter Spam Cools Down

Shiba Inu (SHIB) Reveals Thanksgiving Gift in Partnership with Travala

See original on DailyCoin

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09-12-2022 01:59:19 (UTC+7)

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    EUR/USD 1.0558 ↑ Buy  
    GBP/USD 1.2244 ↑ Buy  
    USD/JPY 136.63 ↑ Buy  
    AUD/USD 0.6770 Neutral  
    USD/CAD 1.3571 Buy  
    EUR/JPY 144.25 ↑ Buy  
    EUR/CHF 0.9885 ↑ Buy  
    Gold 1,801.80 Sell  
    Silver 23.273 ↑ Sell  
    Copper 3.8857 ↑ Sell  
    Crude Oil WTI 71.88 ↑ Sell  
    Brent Oil 76.56 ↑ Sell  
    Natural Gas 6.102 ↑ Buy  
    US Coffee C 159.73 ↑ Buy  
    Euro Stoxx 50 3,921.27 ↑ Sell  
    S&P 500 3,965.60 Neutral  
    DAX 14,264.56 ↑ Sell  
    FTSE 100 7,472.17 ↑ Sell  
    Hang Seng 19,450.23 Neutral  
    Small Cap 2000 1,816.55 ↑ Sell  
    IBEX 35 8,225.20 ↑ Sell  
    BASF 47.100 Neutral  
    Bayer 52.73 ↑ Sell  
    Allianz 203.65 ↑ Sell  
    Adidas 117.54 ↑ Buy  
    Lufthansa 7.712 ↑ Sell  
    Siemens AG 132.00 ↑ Sell  
    Deutsche Bank AG 10.022 ↑ Sell  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,650/ 6,720
(0/ 0) # 1,589
SJC HCM6,635/ 6,715
(0/ 0) # 1,584
SJC Hanoi6,635/ 6,717
(0/ 0) # 1,586
SJC Danang6,635/ 6,717
(0/ 0) # 1,586
SJC Nhatrang6,635/ 6,717
(0/ 0) # 1,586
SJC Cantho6,635/ 6,717
(0/ 0) # 1,586
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