Regulated cryptocurrency trading platform Uphold is scaling up its listing of new cryptocurrencies in line with the sector’s growth.
According to the information shared by the exchange on Twitter, meme cryptocurrency Shiba Inu (SHIB) is now the latest token to go live on the platform. The exchange noted that the token is available for trading in select regions.
The listing follows the recent surge in SHIB’s popularity that resulted in the coin’s spike in value. However, like the general cryptocurrency market, SHIB is experiencing phases of volatility.
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As reported by Finbold, the token’s value is still dropping despite burning a total of 410,301,297,677,661 SHIB tokens from the initial supply accounting for 41% of the one quadrillion tokens.
Worth noting is that the listings are likely to propel the growth of SHIB since it will give it more exposure to different investors. Although SHIB has received criticism for lacking utility, the listing is a significant aspect of the asset’s validation.
Kraken is also the recent high profile exchange to list SHIB. Furthermore, SHIB supporters are betting the token will be available for trade on the retail investment platform Robinhood.
Despite the volatility, SHIB continues to attract more holders who have surpassed the one million mark. As of January 13, 2021, the coin was onboarding at least 2,400 new holders daily. Inherently, what makes SHIB popular is the support from its vibrant community.
Elsewhere, Uphold recently listed Spell (SPELL) token, a rewarding asset linked with lending platform abracadabra money. It also listed the CVX token behind the yield-boosting application Convex Finance.
Alongside SHIB, the recently listed assets will be classified under tier three, allowing users to buy, hold, sell, deposit, withdraw and send.
SHIB price today
On a year-to-date basis, the SHIB’s value has plunged over 25%, trading at $0.000024 by press time. Additionally, the token has recorded an outflow of capital to drop to the 15th position based on market capitalization.
Currently, the market needs to pay attention to the support level of about $0.0000253. Generally, activity from the SHIB army and the general market movement will be vital in SHIB’s next price target.
Related guide:
How to Buy Shiba Inu Coin (Step-by-Step)
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
