Shiba Inu, which is a type of digital money connected to Ethereum, got some good news in Japan. Even though its price was going down, there was an announcement about it being listed in the Japanese market.
Shiba Inu, which calls itself the Dogecoin killer, caught a lot of attention in the wider crypto world when it announced it’s getting listed on a Japanese exchange on Monday. Even though the token’s price was going down, this news created a lot of excitement and speculation among people interested in Shiba Inu.
Interestingly, the drop in the token’s price matches a decrease in the burning of SHIB, showing how Shiba Inu is performing in the market. Despite this, the community is hopeful that the new listing will bring a big jump in its value soon.
Shiba Inu Gears Up for Bull Run Amid Listings and Investor Confidence
The DMM Bitcoin exchange, a cryptocurrency platform based in Japan, recently announced its plans to start listing SHIB on its platform from December 20. This revelation comes at a time when Shiba Inu’s price has seen a decline, but traders and investors are anticipating a potential surge in value.
Originally created as a joke currency, the meme-coin is now making a mark among the most popular cryptocurrencies. Adding to its recent listing on Coincheck, a Japanese crypto exchange, Shiba Inu seems to be gaining credibility in the eyes of investors and traders.
In the midst of its ongoing listing events, the token has also secured a notable position on the smart money inflow list. Recent market data positions SHIB as the second-highest in the list, reflecting a 24-hour inflow of $2.95 million.
This series of listings, coupled with increasing smart money inflow, suggests that Shiba Inu is gearing up for a potential bull run. As the community progresses, the token appears to be building confidence among investors, setting the stage for potential upward momentum.
Mixed Signals for Shiba Inu as Price Drops Amid Listing Buzz
Despite the exciting developments highlighted by the SHIB community, the price of Shiba Inu experienced a 6.93% drop today, currently settling at $0.000009999. However, it’s crucial to note that the token has shown substantial gains over the past week, with a 4% surge, complemented by a monthly increase of 16.62%.
While the recent listing announcement is gaining attention in the crypto market, the current dip in price is anticipated to be temporary, with expectations of a reversal in the near future.
Interestingly, even the SHIB burn rate today reflected a 100% decrease, aligning with the drop in today’s price. Notably, the token’s burning initiative is poised for a significant surge, as hinted by Shytoshi Kusama.
Considering the combined impact of these developments, there is speculation within the SHIB community that the token might be gearing up for a potential bull run in the coming days.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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