Shiba Inu, the arch-rival of DOGE, got a significant boost when it got listed on the top Brazilian crypto exchange. The exchange has over 950,000 registered customers, SHIB price could get a further boost.
Foxbit is not the first Brazilian exchange to list Shiba Inu. In December 2021, Mercado Bitcoin, the country’s largest exchange, added support for the meme cryptocurrency.
Following the news, Shiba Inu has the 4th largest trading volume in the last 24 hours, only less than Bitcoin (BTC), Ethereum (ETH), and XRP.
Shiba Inu prices are projected to rise by 14% following a slice above a critical resistance barrier. Furthermore, on February 16, the DOGE rival will be listed on the Brazilian exchange Foxbit, which will give a major boost to the fortunes of the meme coin.
One of the oldest digital exchanges in Latin America, having its headquarters at São Paulo, Brazil, Foxbit was launched in 2014.
Here is how Foxbit announced the news of its latest altcoin listing on Twitter:
Abram alas para o doguinho mais querido do universo cripto! 🐕
A gente também não esperava por isso, mas estamos assim 👉🥰
Shiba Inu está chegando na Foxbit!A partir de 16/02 você já pode negociar Shiba Inu com a gente… Ansiosos? pic.twitter.com/ZL8jFxKsTs
— Foxbit (@foxbit) February 9, 2022
SHIB Price Up By 70% in Last Week
Shiba Inu’s price saw a 70% rally last week, taking it to $0.00003322 at the time of writing. The canine-based meme coin also benefited when the news was broken, entering the world of the metaverse.
The new project, which goes by the name Shibverse was revealed by a blog post on Tuesday. All three components of the Shiba Inu ecosystem have shown positive movement in its values.
Norok, a crypto market analyst, opined that the latest SHIB price rally has brought out “excellent short opportunities.” He said, “Each rally, far from being the fresh breath of hopium owners desire, has provided excellent short opportunities for months,” Norok explained, adding:
“This one is a clear pullback to test and hold Resistance and a good opportunity to add to the short where profit was taken at the start of January.”
Last year Shiba Inu was the second most viewed cryptocurrency in Latin America behind only Bitcoin, according to CoinMarketCap data.
