The largest cryptocurrency exchange in India has listed shiba inu coin for trading a day after ethereum co-creator Vitalik Buterin’s donation of about $1 billion worth of the tokens to India for COVID-19 relief.
Mumbai-based WazirX exchange, which is owned by Binance, listed the new token on Thursday, according to a blog post.
“We were receiving a lot of requests from our community to bring SHIB on WazirX, and hence, we decided to list it,” WazirX CEO Nischal Shetty told CoinDesk.
WazirX however will not accept direct SHIB deposits or facilitate its withdrawals. According to shiba inu’s website, the only place to buy or sell the dogecoin knockoff is on Uniswap.
Shiba inu, which was founded less than a year ago, took inspiration from a more established meme currency, dogecoin – even branding itself as a “dogecoin killer.” According to its website, shiba inu is an “experiment in decentralized community building.”
The WazirX listing comes a day after Buterin donated 50 trillion SHIB tokens worth around $1 billion to a crypto-based COVID-19 relief fund for India. The token has skyrocketed and gained almost 1,000% over the past week but plunged after news of Buterin’s donation broke.
Shiba inu was last at $0.00002035 on Friday morning, up by 15%, according to CoinMarketCap data. It is the 25th largest cryptocurrency in circulation based on its current market value of over $7.9 billion.
The listing of meme tokens is often seen as a sign of legitimacy in the cryptocurrency community.
On Thursday, Coinbase said it will list the dogecoin in six to eight weeks. Other exchanges that allow dogecoin trading include Kraken and Robinhood.
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