Shiba Inu Finally on a Japanese Exchange, Here’s the Significance

Paigambar Mohan Raj
Source: Readers Digest

Popular canine-themed crypto token Shiba Inu (SHIB) has finally made its way to a Japanese exchange. BitPoint, a Japanese crypto exchange, has announced that it would add support for SHIB by the end of the month. As per the announcement, SHIB will be listed on the exchange on November 30th.

As per the statement,

“We would like to inform you that from November 30, 2022, we will start handling the new crypto asset SHIB.”

On November 30th, BitPoint will become the first Japanese exchange to list Shiba Inu (SHIB), a significant milestone for the token. However, BitPoint has not yet specified which Shiba Inu trading pairs will be accessible.

Four campaigns have been made public by BitPoint in honor of the forthcoming SHIB listing. The exchange said that from November 30, 2022, to December 29, 2022, new users who create accounts on the site will receive 1 million Shiba Inu tokens (about $9) as a welcome bonus.

Second, BitPoint Japan will also start a trading competition in which participants can share 100 million Shiba Inu tokens by spending over 10,000 yen ($72) in SHIB. 11 users who spend more than 10,000 yen ($72) on SHIB will be chosen at random to receive a part of 100 million SHIB, which is now worth $903 at the current exchange rate.

Thirdly, to commemorate its listing of SHIB tokens, BitPoint Japan has created a social media campaign. The campaign will take place between November 30 and December 29, 2022. Twitter users that follow BitPoint’s account, retweet, and like the campaign tweet during the campaign period will be eligible to be chosen from the list of winners. One user will receive 100 million SHIB from BitPoint, and the other 11 users will each receive 11.11 million SHIB tokens.

Significance of Shiba Inu’s Japanese entry

Now SHIB has a lot of influence from Japanese culture. Shiba Inu dog is a Japanese breed. Moreover, many of the names in SHIB projects have Japanese influences. The dojo in the Shiba Eternity game also has Japanese roots. Therefore, a debut on a Japanese exchange has a lot of significance for the project.

Nonetheless, SHIB is struggling on the price side of things. At press time, SHIB was trading at $0.00000911, up by 0.8% in the last 24 hours.