- As a result of the new listing, thousands of VALR users will be able to buy and trade the meme coin Shiba Inu using the South African Rand.
The Shiba Inu has been listed on the South African-based cryptocurrency exchange VALR along with a ZAR trading pair. As a result of this development, thousands of VALR users are now Shiba Inu (SHIB) He will be able to buy and exchange for South African Rand. SHIB will join other cryptocurrencies Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL) and Binance Chain (BNB) on the platform, allowing users to trade SHIB directly with ZAR.
GM, we’re listinggg!🐶
✳️ SHIB/ZAR trading will roll out in 4 stages beginning at 13:04 – details below.
❤️ VALRhttps://t.co/cxu9GGiYJN
— VALR (@VALRdotcom) April 13, 2022
Founded in 2019 and having more than 250,000 retail customers, most of them in South Africa, as well as 500 institutional customers, VALR joined Alameda Research, Coinbase, etc., in March. announced that it has raised $50 million in a Series B equity funding round led by Pantera Capital, with participation from major investors. Using this collected funding, VALR plans to expand to African countries as well as other emerging markets such as India.
Shib listings are not slowing down
A recent Shiba Inu official blog post, “Bringing New Floors! A Growth Report”shared with his community the progress the SHIB project has made over the past year so far. The report noted that SHIB is listed on more than 100 crypto exchanges, including Coinbase, Binance, Kucoin, Huobi, Voyager, Crypto.com, and Kraken.
In addition, this year’s most anticipated SHIB listing has finally come true. As stated by KoinFinans, Robinhood announced that it has added the popular meme coin to its list of cryptocurrencies, with a statement made on its Twitter account yesterday. Shiba Inu has become one of the top-earning cryptocurrencies of the day after this development.
Shiba Inu’s profitability increased
According to data from IntoTheBlock, the second largest meme cryptocurrency Shiba Inu (SHIB) profitability rose to 43 percent from 36 percent, which had previously fallen. After the big listing news, the Shiba Inu, which reached $0.00003 on April 12, is currently trading at $0.00002643.
It’s been on the upside in the last 24 hours, with a 508 percent increase in large transactions following Shiba Inu whales becoming more active, according to data also taken by IntoTheBlock. Sudden spikes in large trades are often indicative of high activity among institutional players or whales buying or selling. According to IntoTheBlock, for a transaction to be considered a large transaction, the amount moved must exceed $100,000.
Whales keep accumulating
After a return to local lows, one of the biggest whales on the Ethereum network has received a significant number of SHIB tokens. According to WhaleStats, this acquisition of the giant wallet is believed to potentially fuel the current 3% recovery in meme coin.
According to transaction data, the wallet known as “Light” purchased $6.4 million worth of SHIB tokens and paid $6 worth of ETH as transaction fees.
Shiba Inu regains first place
As more whales began to seize the opportunity to purchase SHIB tokens at a significant discount, the total USD value of SHIB assets skyrocketed to $1.46 billion, placing it at the top of all assets. FTX Token, on the other hand, ranks second among all other assets with a 13.07 percent market share.
Shiba Inu dominance, meanwhile, reached $16.45 percent for the memetoken, one of the highest since February 2022.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.