In a few weeks, Shiba Inu is expected to be listed on the Bahrain-headquartered crypto exchange CoinMENA.
The trading platform did not specifically refer to the token, but it posted a teaser saying “I’m a cryptocurrency meme inspired by the dog Elon Musk isn’t tweeting about.”
It also tagged the official Twitter handle of Shiba Inu’s project lead Shytoshi Kusama and other SHIB-focused accounts.
Established in 2019, CoinMena, a Sharia-compliant digital asset exchange is regulated by the Central Bank of Bahrain with a Crypto Assets Services Company License [Category 2].
The trading platform allows retail and institutional investors access to digital assets investments and directly connects their bank accounts with their CoinMena wallets to facilitate quick and frictionless money transfers.
It secured a provisional virtual assets license from Dubai’s Virtual Assets Regulatory Authority (VARA) back in June 2022.
Additionally, CoinMena recently become the first onshore platform to introduce limit trading for MENA and Qatari Citizens to set the price or value at which they want to buy and sell crypto.
Besides SHIB, the platform has previously listed DOGE.
While this is going on, AlphaTopup, a top-up service provider for Web 3.0 firms, has announced integrating with SHIB, giving it further momentum.
SHIB tokens, as per the announcement post, will be used for powering up users’ phones or making online purchases in AlphaTopup.
Not just limited to mobile top-ups, SHIB holders can shop online in the forthcoming SHIB Metaverse
In related developments, crypto exchanges are increasingly taking the Shiba Inu ecosystem currencies [SHIB, BONE, and LEASH] into account for new listings as well as upcoming listings.
Shiba Inu Shines Amidst Memecoin Frenzy
Shiba Inu has been listed on the CeFi platform by Blockbank, a Lithuania-based neo-banking platform. Then on April 24, CetoEX, a renowned exchange with a base in Dubai, announced the listing of BONE, the governance token of SHIB’s L2 solution.
Also, SHIB’s social performance hasn’t diminished despite the recent introduction of new memecoins, as per analytics platform Lunar Crush, SHIB was featured as the “Coin of the Day.”
The 15th-ranked memecoin also showed a slight price rebound. Shiba Inu’s price increased by 8% last week and is currently up by 2% over the last 24 hours at $0.000008875 after plunging by more than 30% in May.