Dogecoin Rival Shiba Inu Starts Trading on Peter Thiel-Backed Cryptocurrency Exchange

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By Alex Dovbnya

Fri, 8/10/2021 - 16:03

Dogecoin Rival Shiba Inu Starts Trading on Peter Thiel-Backed Cryptocurrency Exchange

Vienna-based digital investment platform Bitpanda has enabled support for Shiba Inu trading, according to a Friday announcement.

It has also announced a trading competition for SHIB fans with a prize pool of 10,000 euros.

After wrapping up its $170 million Series B funding round in March, Bitpanda became Austria's first fintech unicorn.

Its valuation then swelled to over $4 billion after raking in an additional $263 million in August.

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Both funding rounds were led by Valar Ventures, a New York-based venture capital firm co-founded by billionaire Peter Thiel.

As reported by U.Today, the Dogecoin offshoot also started trading on Coinbase Pro in mid-September.

Earlier this week, the cryptocurrency skyrocketed more than 300%, captivating the attention of the cryptocurrency community. However, the rally has since cooled off.