Shiba Inu is having another very important event. This time it is the listing of the dog coin on one of the largest exchanges in the Middle East. The price reacts sharply.
SHIB on Rain
On May 12, during the current year’s record declines in the cryptocurrency market, the Rain exchange decided to list SHIB. After a long period of waiting, the community lived to see this big event.
Information on the matter appeared on Twitter and in addition to the Shiba Inu coin, it also involved Wrapped BTC (WBTC) and Pax Gold (PAXG).
Rain, which is based in Bahrain, first asked its community about the Shiba Inu listing back in March this year. The feedback message was clear, prompting the exchange to proceed with the necessary work to do so.
A significant step for Rain
Rain is a platform with which its local community is very strongly connected and to which it declares a high level of loyalty. Its users include residents of Bahrain, Kuwait, Oman, Saudi Arabia and the United Arab Emirates. Those of them who were so far sympathetic to SHIB finally got the opportunity to buy Shiba Inu.
The platform has a very good reputation and is considered to be one of the top platforms in the Middle East. In the near future, Rain plans to expand beyond its current geographic footprint and start providing services in other Asian countries.
In June last year, the exchange exceeded the psychological limit of USD 1 billion in trading volume. The current year, on the other hand, began with the achievement of 200,000 registered users.
Shiba Inu price shot up
At the time of publication of the listing on the Rain exchange, the SHIB coin was in a strong downward phase. On May 12 alone, it lost 12% on its value. As a result, it touched a price level of $0.000009. Fortunately, this movement has abruptly reversed. At the time of writing this article, the total upside from the recorded minimum is already over 60%. As long as the overall market recovers from the recent bump, there is a good chance that the SHIB rally will continue.