Up 30%: Popular Meme Coin Jumps After Exchange Listing!

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  • After the massive crash in the crypto market, another major worldwide exchange, the popular meme cryptocurrency To Shiba Inu (SHIB) added support.

Rain platform, the fastest growing crypto trading exchange in the Middle East, announcing that it has recently signed a sponsorship agreement with Beşiktaş, one of Turkey’s well-established clubs, has finally decided to launch Shiba Inu trading after a two-month evaluation, expanding the adoption and trading volume of the meme token.

After the positive trend in the crypto market is partially fulfilled and after the listing shib price It increased by up to 30 percent in 24 hours.

meme coin

SHIB is listed by Rain

Rain, a Bahrain-based crypto platform, became the first fully licensed crypto trading platform in the Middle East in 2019 after gaining approval from the Central Bank of Bahrain.

The popular crypto-asset platform announced in a tweet in mid-March that it was considering listing the Shiba Inu cryptocurrency and asked its investors for their opinions on listing the meme coin. Following that, Watcher Guru claimed that the cryptocurrency’s team confirmed that Shiba Inu will be listed by the exchange soon.

Rain revealed in March that SHIB is already installed on their backend systems, but trading is not yet available to users. In a tweet dated May 13, the company announced that it has finally added support for Shiba.

Earlier this year, Shiba Inu was listed on several other platforms, including the Parex decentralized exchange and the Robinhood trading app.

Whale bought 455 billion SHIB, sold at profit

WhaleStats, a whale watching platform that tracks and shares data from the largest wallets on Ethereum, Polygon, BNB and other chains, tweeted that a dazzling amount of Shiba Inu was purchased by a large whale on the ETH chain.

The owner of the “BlueWhale0073” wallet purchased 455,957,607,129 SHIB tokens. This large amount of dog crypto cost the giant whale $4,933,461.

However, the whale did not miss this bullish opportunity and after the price of the token increased by 25 percent from $ 0.0001056 to $ 0.00001320 on the Binance exchange, the price of the token increased by 25 percent. SHIBSold most of it.

Looking at the details of the wallet, the whale currently has a fairly small amount of SHIB at $17,976, which is only 0.25% of the wallet’s portfolio. Besides SHIB in the wallet UNI, HEX etc. There are valuable altcoins in the low market. At the time of the initial purchase, the Shiba Inu accounted for 90 percent of the whale’s wallet.

Currently, the main assets of this whale include USDC (the largest it has), Polygon (MATIC) and Chainlink (LINK) exists.

Rain plans to expand its presence in Turkey

The exchange, which previously raised $2.5 million from BitMEX and Kuwait-based Blockwater, completed its $6 million Series A funding round in 2021, raising capital from VC firm MEVP Capital and other investors.

Rain Financial, operator of the trading platform, has raised $110 million in a recent Series B funding round. The funding round was led by San Francisco-based crypto-focused investment firm Paradigm. The exchange said the newly raised capital will be used to expand the platform’s presence to Pakistan and Turkey.

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.


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