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Shiba Inu ($SHIB) Listed on India's Oldest Crypto Exchange With Over Four Million Users | Cryptoglobe


www.cryptoglobe.com 15 October 2021 11:20, UTC
Reading time: ~2 m

The meme-inspired cryptocurrency Shiba Inu (SHIB) has been listed on India’s oldest cryptocurrency trading platform Zebpay after it “inspired millions of people around the glove to finance and fund a coin with a doggo’s picture on it.”

In an announcement, Zebpay noted SHIB calls itself the “Dogecoin Killer” and is listed on its own decentralized exchange ShibaSwap, while having two other tokens called “BONE” and “LEASH.”

The cryptocurrency, which has a total supply of one quadrillion, was created by a pseudonymous entity going by “Ryoshi,” and has 50% of its total supply locked on decentralized exchange Uniswap. The project sent the remaining tokens to Vitalik Buterin to be “burned,” but Buterin later sent 50 trillion SHIB, then worth $1 billion, to India’s Covid Crypto Relief Fund.

As CryptoGlobe reported, b August only 2% of Buterin’s $1 billion donation had been cashed out. The cryptocurrency has over time been listed on major cryptocurrency exchanges including Coinbase and Binance. Zebpay is India’s oldest cryptocurrency trading platform and boasts of having over four million users.

On-chain over 700,000 users hold $SHIB, but it’s unclear how many people hold the tokens on cryptocurrency exchanges and other custodial services.

Thank you #ShibArmy!

We have reached 720,000+ Holders for $SHIB.

WOOF! pic.twitter.com/DMg18oSH9S

— Shib (@Shibtoken) October 7, 2021

Supporters of Shiba Inu has over the last few weeks been signing a petition asking commission-free trading platform Robinhood (NASDAQ: HOOD) to list their cryptocurrency on their platform.

The petition, titled “Kindly request of Robinhood to list Shiba Inu coin” has, at press time, over 241,600 signatures from backers and is looking to reach 300,000. It mentions that Robinhood has listed Dogecoin ($DOGE), a rival meme-inspired cryptocurrency, that was a “huge success” for the trading platform.

Zebpay, in its announcement, noted that the LEASH token is meant to provide rewards for liquidity providers, while BONE has a 250 million supply and is a governance token that helps holders vote on Shiba Inu’s decentralized autonomous organization.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Featured image via Unsplash


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