WazirX is one of the first cryptocurrency exchanges in India to lists SHIB token trading in Indian rupees. The new listing comes just one day after Ethereum founder Vitalik Buterin donated $1 billion in SHIB to the India Covid Relief Fund.
The Shiba Inu (SHIB) token was listed on Thursday by the Mumbai-based WazirX exchange, which is owned by the giant cryptocurrency exchange Binance. Some cryptocurrency analysts have labeled the Dogecoin (DOGE) imitator Shibu Inu, but the company touts itself as a “dogecoin killer” in its marketing materials.
Shiba Inu- SHIB coin
Shiba Inu, also known as SHIB is the newest and most talked-about cryptocurrency. The token is being hailed as a Dogecoin killer, and it skyrocketed in value shortly after it was listed earlier this week. Shiba Inu coin is based on Ethereum and is the fastest-growing cryptocurrency in the top 100 by market capitalization.
WazirX allows you to trade the SHIB token against the Indian rupee (INR) and the stablecoin tether. However, the exchange does not accept direct SHIB deposits or facilitate SHIB withdrawals, according to its official blog.
On April 1, WazirX listed dogecoin, which was trading at around 6 cents at the time. Even after a market crash on Wednesday, the price of dogecoin has risen more than sixfold to around 40 cents.
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