When Shiba Inu, DOGE’s arch-rival, was listed on the biggest Brazilian crypto market, it received a significant boost. With almost 950,000 registered users on the exchange, the SHIB price could rise even higher. Shiba Inu is not the first Japanese dog to be listed on a Brazilian exchange. The country’s main exchange, Mercado Bitcoin, introduced support for the meme cryptocurrency in December 2021.
Shiba Inu has the fourth-greatest trading volume in the previous 24 hours, after only Bitcoin (BTC), Ethereum (ETH), and XRP. Following a slice above a major resistance barrier, Shiba Inu prices are expected to jump by 14%. Furthermore, on February 16, the DOGE competitor will be launched on the Brazilian market Foxbit, providing a significant boost to the meme coin’s fortunes.
Foxbit, one of Latin America’s oldest digital exchanges, was founded in 2014 and is headquartered in So Paulo, Brazil. Last week, the price of Shiba Inu increased by 70%, bringing it to $0.00003322 at the time of writing. When the news broke, the canine-based meme coin profited as well, joining the metaverse.
Shibverse is the name of the new project, which was announced in a blog post on Tuesday. The values of all three components of the Shiba Inu ecosystem have risen in recent years. Shiba Inu was the second most popular cryptocurrency in Latin America last year, trailing only Bitcoin.
Wow! This Shiba Inu really ‘barked’ some profits.
