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The Japanese arm of Binance has listed a new Shiba Inu trading pair, causing a momentary surge to $0.00011 in SHIB price.
On Monday, Binance Japan revealed its intention to welcome a Japanese yen-denominated trading pair for Shiba Inu on its spot platform by April 30.
Binance Japan Lists SHIB/JPY
At press time, the exchange has already opened trading for the SHIB/JPY pair. As a result of this listing, Japanese Shiba Inu enthusiasts now have the option to trade their favorite token against local currency.
Moreover, the announcement emphasized that the newly listed SHIB/JPY pair is eligible for the ongoing fee-free campaign on buying and selling transactions. As a result, maker and takers fees will not be charged during the campaign period.
Accordingly, Binance Japan urged Shiba Inu enthusiasts to leverage the new opportunity to engage in spot trading. Other JPY trading pairs Binance Japan recently listed include pairs of Solana, XRP, and Cardano.
Shiba Inu Army Reacts
KURO, a well-known Japan-based Shiba Inu community member, first called attention to Binance Japan’s new listing move. The update attracted significant engagement in the community.
In a subsequent post following the listing, Kuro presented a screenshot illustrating the heightened trading activities surrounding the SHIB/JPY pair. The post indicated that SHIB’s price momentarily hit 0.016666 against the Japanese yen.
Shiba Inu Soared 361% after Listing
In dollar value, 0.016666 JPY represents $0.00011, compared to Shiba Inu’s current market cap of $0.00002231.
The 0.016666 JPY price point represents an explosive 361.92% gain from the opening trading price of 0.003608 JPY. Interestingly, this surge occurred less than one hour after the SHIB/JPY listing.
一瞬だけSHIB 0.016666円😁#柴犬コイン #シバイヌコイン https://t.co/asKUDx4Omu pic.twitter.com/DeBtIV9iYw
— KURO🐾SHIBARMY JPN🇯🇵 (@kuro_9696_9696) April 30, 2024
Notably, the SHIB/JPY price stabilized at 0.003741 JPY at the time of the screenshot. Moreover, the disclosure indicated that Japanese Shiba Inu enthusiasts have traded 106.39 million SHIB, valued at 421,078 JPY.
Besides, Kuro expressed conviction that 0.016666 ($0.00011) will soon become the floor price of SHIB rather than a glitchy ceiling. He noted that this price point will materialize after the Shiba Inu development team successfully onboard the global partners they have been pursuing.