Gemini Lists DOGE Competitor SHIB, Community Celebrates

Shiba Inu (SHIB) has taken the market by surprise as its battle against Dogecoin (DOGE) moved to the crypto top 10 by market cap. In a vicious exchange between the two meme cryptos, the Elon Musk favorite and its supports have been trying to keep their spot on the ranking, but the Shiba Army gave equal relentless pursuit.

Related Reading | Shiba Inu Continues To Dominate Community-Wise, But Why Is The Price Suffering?

This community has another reason to celebrate, as leading crypto exchange Gemini announced that it will be listing SHIB. In an official post, the platform added support for the Dog-inspired cryptocurrency for “custody and trading” on the API/FIX and ActiveTrader apps for their USD trading pair.

In the exchange’s mobile app, SHIB will have support for the GBP, EUR, CAD, AUD, HKD, and SGD pairs in addition to a USDC trading pair. The addition of SHIB marks an important moment for the platform, as it now supports over 60 tokens with over 16 tokens supported for its custody service.

Tyler Winklevoss, one of the founders of the Gemini exchange with his brother Cameron Winklevoss, claimed the platform listed SHIB due to the demand for its supporters. This community has seen massive growth since the token was launched less than a year ago. Winklevoss said:

Dear SHIB army, Gemini has answered your call. To the moon!

In past months, SHIB has been listed on different top crypto exchanges, including Coinbase, Gemini, and others. Kraken has shown interest in the dog token but is yet to list it.

With a massive performance in 1 year and a 116% rally in the monthly chart, Shiba Inu (SHIB) could potentially become one of the top performers in the crypto ranking by market cap. Unlike DOGE, the Shiba Inu-inspired token is part of an ecosystem that included a decentralized trading platform, and other products.

Related Reading | 10 Wallets Hold 72% Of Total Shiba Inu Supply. Who Are They?

Gemini Bets On SHIB And The Metaverse

In addition to SHIB, Gemini also listed major Metaverse coins including Audius (AUDIO), Mask Network (MASK), Wrapped Centrifuge (wCFG), Radicle (RAD), Fetch AI (FET), Numeraire (NMR), and API3 (API3). Metaverse tokens have seen an impressive rally in the past months.

As Facebook, Microsoft, and other big tech companies reveal their interest in Web 3.0, and plan on building their own Metaverse, many investors seem to be trying to get ahead of the curve. In the next 5 years, cryptocurrencies, such as MANA and SAND, could gain more relevance.

Related Reading | Dogecoin Shows Shiba Inu Who’s Boss As Battle For Supremacy Continues

In an official post, the leading crypto exchange claimed the following about their SHIB and Metaverse based tokens:

We believe these tokens will provide value to our users and will continue to support DeFi, the budding metaverse, decentralized infrastructure, and data management environments. We look forward to supporting new crypto projects on our mission to empower you, the individual, through crypto.

As of press time, SHIB trades $0,000055 with a 4.2% profit in the daily chart.

SHIB moving sideways in the 4-hour chart. Source: SHIBUSDT Tradingview

Be the first to comment

Leave a Reply

Your email address will not be published.