Shiba Inu ranks #2 as other huge exchanges will list SHIB – Will price rise to $2?

  • Shiba Inu (SHIB) emerges as #2 in Webull’s weekly most popular cryptos even as several exchanges list the memecoin.
  •  SHIB has been gaining massive traction and could be poised for a price upswing.

Shiba Inu (SHIB) has been ranked as the second most popular cryptocurrency on Webull, a New York-based multi-asset trading platform, even as the memecoin continues to gain more mainstream adoption and enter new markets.

Per an infographic shared by the financial services company, SHIB was only superseded in popularity by fellow dog-themed memecoin Dogecoin (DOGE) during the past week. SHIB also saw more patronage than Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Apecoin (APE), Cardano (ADA), Solana (SOL), and Polygon (MATIC).

The commission-free trading platform is not the only exchange recognizing the bullishness around SHIB. Several exchanges have recently listed or revealed plans to list the token.

Earlier this week, Okcoin Japan, the Japanese branch of the OK Group corporation, hinted at considering the meme coin while responding to a SHIB proponent, noting that his 148 days long persistent petition to exchanges in the country to list SHIB has been noticed.

The response is sparking excitement among Japanese SHIB proponents who welcomed the listing of the memecoin by BitPoint back in November, making the exchange the first top Japanese exchange to list the memecoin.

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Similarly, SHIB was also listed by leading Singapore-based exchange Bitcastle earlier this month with the SHIB/USDT trading pair. The listing also came with a promotion in which Bitcastle is rewarding users with SHIB for logging into the exchange on a daily basis.

SHIB price could soar with massive traction being gained

Aside from entering new markets through exchange listings, SHIB is as well gaining massive traction as a mainstream method of payment and seeing its ecosystem expanding rapidly.

SHIB has been getting accepted as a payment method by a growing number of companies cutting across various industries. Recent additions to this cohort include luxury car dealer Virginia-based Exclusive Automotive Group, and leading German handmade shoe manufacturer Atheist Shoes.

Both brands are accepting the memecoin through partnerships with crypto payments gateway BitPay.

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The SHIB ecosystem also continues to get closer to the launch of Shibarium (its layer 2 protocol), SHIB: the metaverse, as well as multiple games that will all give more utility to the memecoin.

SHIB is trading at around $0.0000091, down 2.61 percent in the last 24 hours at the time of writing. The price represents a 23.5 percent drop in the last month and a 72.8 percent drop in the year-to-date chart. Regardless, SHIB proponents are optimistic that the rapid pace of adoption and a growing number of use cases will see the joke token surge to new highs soon.

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Abigal .V. is a cryptocurrency writer with over 4-years of writing experience. She focuses on news writing and is skilled in sourcing hot topics. She’s a fan of cryptocurrencies and NFTs.

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