The world’s most popular meme coin has been officially listed on Europe’s largest trading platform Bitstamp. Announcing the same, the exchange revealed that the decision to list SHIB was made in December 2021 but was postponed due to some technical difficulties at the time.
The listing is of great significance for the Shiba Inu community as it will be now traded against the US dollar and the Euro on a platform that is regarded as one of the most trustworthy and reliable. Spread over 100 nations, the 11-year-old firm caters to over 4 million customers across the globe.
Additionally, the trading firm is noted for its stringent regulatory compliance and cautious listing policy which is why the latest development is a great accomplishment for the SHIB’s ecosystem.
However, in its latest launch announcement, the exchange did not explain the exact reason for the 1-year delay. But, it did re-affirm several times that it would still list SHIB.
Also, Bitstamp has not given a date for the full trading release. Instead, it states this will happen “once the order books gather sufficient liquidity”.
According to the blog post, order books will be offered in a limited-time-only mode starting from 7 June 2022. Limit orders placed by users will be matched during the same day.
Moreover, transfers were made available as early as Monday on the trading platform.
Bitstamp cites Shiba Inu’s popularity and its vibrant community as the reason behind its listing
“Among all the serious crypto projects with their serious tokens and coins, there are some that represent the dogs of the world,” the Luxembourg-based crypto exchange said.
“Shiba Inu is one such project which started out as utterly light-hearted, boasting a pretty picture of a dog, but now has an incredibly large and vibrant community behind it,” the blog read.
In April 2022, Shiba Inu’s vibrant community got their long-awaited wish fulfilled when the coin was listed in the U.S.-based commission-free trading platform Robinhood.
With respect to the price action, SHIB has been mostly flat and is currently trading at $0.00001056, far down by 88% from its previous peak on Oct 21, last year.