Binance Liquid Swap, a leading platform for digital asset liquidity provision, recently expanded its offerings by adding seven new liquidity pools. Among these additions is the highly anticipated SHIB/DOGE pool, which is expected to benefit Shiba Inu holders significantly. The other six liquidity pools include BEL/USDT, BTC/TUSD, ID/BTC, ID/USDT, SYN/USDT and TUSD/USDT.
The introduction of the SHIB/DOGE liquidity pool could potentially attract more investors to Shiba Inu, a popular meme cryptocurrency. This development comes at a critical time for Shiba Inu, as the token's price recently fell to its local support level of $0.00001.
Since then, the price has been consolidating at this level with low and descending trading volume. The addition of the SHIB/DOGE pool on Binance Liquid Swap is expected to provide more exposure and liquidity to both meme cryptocurrencies, possibly leading to increased interest from investors and traders.
It is essential for Shiba Inu holders to understand the risks associated with adding funds to a liquidity pool. The number of digital assets redeemed may differ from the number added to the pool. Additionally, transaction fees may be incurred when adding or redeeming digital assets from the pool.
The creation of the SHIB/DOGE liquidity pool could improve the market performance of Shiba Inu by increasing its liquidity and attracting more traders. The expansion of Binance Liquid Swap's offerings demonstrates the growing interest in meme cryptocurrencies and the potential for further development on the market.
As trading volume remains low and descending, the market will be looking for any signs of increased interest toward assets like Shiba Inu, which has been going through tough times recently.