- Shiba Inu (SHIB), a popular memecoin, is now live on the Nexo trading platform.
- This listing comes after months of anticipation from the Shiba Inu community.
- The impact of this listing on the price of SHIB is yet to be seen.
Shiba Inu (SHIB) is now live on Nexo, a top trading platform. This development has been eagerly awaited by the Shiba Inu community, who are now keen to see its impact on SHIB’s price.
Shiba Inu (SHIB) Goes Live on Nexo
After several weeks of speculation, Shiba Inu (SHIB) has finally been listed on Nexo. This dog-themed memecoin has seen significant growth and popularity within the industry, largely due to the activities and engagement of its vibrant community, known as the ‘Shib Army’.
Shiba Inu’s Evolution Acknowledged by Nexo
Nexo has acknowledged the outstanding evolution of Shiba Inu, which launched about four years ago as a playful memecoin but has now become a robust symbol of community empowerment. The digital asset trading platform believes that SHIB’s performance is largely tied to the engagement of its community. With its compelling branding and dedicated supporters, SHIB has quickly gained significant popularity within the industry.
Impact of Nexo Listing on SHIB Price
When the Nexo listing was announced in April, the price of SHIB did not show any significant increase. However, with SHIB now live on Nexo, the price outlook is yet to fully price in this news. At the time of writing, Shiba Inu was trading at $0.00002372, with a value drop of 3.02% in the last 24 hours. Its market capitalization has also dropped by the same rate, settling at approximately $13.93 billion.
Potential for SHIB Price Rally
Despite the current SHIB price, other metrics in the Shiba Inu ecosystem look promising. The trading volume of the memecoin is up by 68.21% in 24-hour trading volume, reaching $607.87 million. Similarly, the SHIB burn rate, an initiative that deflates Shiba Inu’s supply in the market, has seen explosive growth in recent weeks. There are speculations that the frequency of this SHIB burn may eventually take the price of the memecoin to $0.00005.
Conclusion
The listing of Shiba Inu on Nexo is a significant development for the memecoin and its community. While the impact on SHIB’s price is yet to be seen, other metrics in the Shiba Inu ecosystem look promising. As the SHIB burn rate continues to grow, there is potential for a price rally in the future.
