Shiba Inu (SHIB) Gains More Exposure on ByBit Exchange As ShibArmy Hopes For a Rally

Shiba Inu (SHIB), the popular decentralized meme token has gained more exposure on the ByBit cryptocurrency exchange.

To give users and the ShibArmy more trading options, Bybit, a top digital assets ecosystem has introduced a new Spot trading pair for Shiba Inu, SHIB/USDC. 

Over 5 million registered ByBit users can now trade the second-largest dog-themed token on the platform with the largest stablecoins, USD Coin (USDC) and Tether (USDT).

Per the update, the exchange introduced 3 other USDC Spot pairs including; GMT/USDC, LINK/USDC, and CHZ/USDC. 

ByBit Continues to Support Shiba Inu (SHIB)

The Singapore-based crypto exchange first supported Shiba Inu (SHIB) trading in December 2021, when it introduced the SHIB/USDT spot trading pair. Shiba Inu’s listing on ByBit happened after the meme token got supported on the largest US-based crypto exchange.

On September 17, 2021, Coinbase listed Shiba Inu (SHIB) on its trading platform. This was a major boost for the token as it gained massive interest from investors. In consequence, Shiba Inu’s price rose by over 40% in the following 48 hours. 

Due to the recent market downturn, Shiba Inu (SHIB) has been heading south in the crypto market, declining by over 8% in the last 7 days. At the time of writing, Shiba Inu is trading for $0.00001209 per token, according to data from Coinmarketcap. 

Read Also: What Will You Do If Shiba Inu Hits 1 Cent? SHIB Investors from These Two Countries Speak

When SHIB Rally?

Although the meme token is trading far below its all-time high of $0.000086, some crypto investors believe that Shiba Inu could repeat the rally it displaced in late 2021, owing to many positive developments surrounding the project. 

The community behind Shiba Inu (SHIB) has been very active in terms of building and developing the token ecosystem. More so, to reduce the supply of Shiba Inu, millions of SHIB tokens are being burned daily ever since the introduction of the burn initiative. 

Related: SHIB Burn Rate Rises 235%, Almost 400 Million SHIB Destroyed in the Past 24 Hours

Earlier this year, Shytoshi Kusama, a lead developer in the Shiba Inu community, outlined several projects to be onboarded in 2022, which include Shiba Collectible Card Game (Shiba Eternity), SHIB: The Metaverse, and Shibarium among others. 

Significant progress has been made in the actualization of these projects. Notably, the Shiba Eternity game is currently in the final testing stage and is speculated to be launched in September as commented by William Volk, the game’s lead designer, and consultant.

At the moment, the testing is only open for Vietnam users while Indonesians would be the next to access the test version of the Shiba Eternity game. Meanwhile, Shibarium, a layer 2 protocol is also close to being rolled out.

---

Follow us on Twitter, Facebook, Telegram, and Google News