Shiba Inu, the self-proclaimed Dogecoin killer, garnered noteworthy attention across the broader crypto market following the announcement of a new listing on a Japanese-based exchange on Monday. The announcement, coming amid a price drop recorded by the token, appears to have promptly generated a torrent of speculative buzz among crypto market enthusiasts eyeing the Shiba Inu cryptocurrency.
Intriguingly, the token’s price drop also comes amid a down surge illustrated by the SHIB burn rate, aligning with SHIB’s current market performance. However, with its new listing chronicle, the community expects to see a significant jump soon.
DMM Bitcoin To List SHIB
The DMM Bitcoin exchange, a Japan-based cryptocurrency exchange, recently unveiled plans to commence SHIB listing on its platform starting December 20. With the announcement surfacing in the broader crypto market amid SHIB’s price plunge, traders and investors seem to be preparing for an upcoming pump.
Moreover, the meme-coin that was initially fashioned as a joke currency is now positioning itself among some of the most popular cryptocurrencies on the horizon. This comes as the token recently witnessed another listing on a Japanese-based crypto exchange, Coincheck.
Furthermore, with its ongoing listing chronicle, the token also appears to have gained investors’ and traders’ trust as it topped the smart money inflow list again today. As per market data, the SHIB token stood 2nd on the list, illustrating a 24-hour inflow of $2.95 million.
With the listing saga accompanied by the smart money inflow data, the token seems to be preparing for a bull run ahead as the community progresses.
Also read: Bitcoin’s Bull Run at Risk? Analyst Flags Concerns As Network Growth Stalls
Shiba Inu Price Drops
In contrast to the aforestated developments illuminated by the SHIB community, the Shiba Inu price dropped 6.93% today, currently trading at $0.000009999. However, the token recorded significant gains over the past week, surging 4%, further escorted by a monthly upswing of 16.62%.
As the listing announcement gains further traction within the crypto market, the current price fall is expected to revert shortly.
Besides, even the SHIB burn rate today showcased a fall of 100%, falling in line with today’s price drop. Intriguingly, even the token’s burning venture is about to witness a phenomenal surge, as revealed by Shytoshi Kusama earlier.
The collective impact of the developments mentioned above on the SHIB cryptocurrency recently hints toward a possible bull run for the token ahead.
Also read: Helium Mobile Price Shoots 100% In A Day, What’s Behind the Rally
Read the full article here