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New Shiba Inu Pair Added to Poloniex

Mon, 11/08/2021 - 14:45
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Alex Dovbnya
Poloniex has wowed the Shiba Inu community with a new trading pair while raising eyebrows with its decision to list the Squid Game token
New Shiba Inu Pair Added to Poloniex
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Poloniex, a veteran cryptocurrency exchange, has announced that its users can now trade Shiba Inu against USD Coin, the second-largest fiat-backed stablecoin.

In mid-April, Poloniex listed its first Shiba Inu pair with Tether, the flagship dollar-pegged cryptocurrency. It became one of the first exchanges to do so.

Shiba Inu is now available on such major exchanges as Binance, Coinbase, Bitfinex and OKEx.

Kraken, despite its promise to add the token last month, has indefinitely put off the listing.

Shiba Inu is down 3% over the past 24 hours, while its canine rival, Dogecoin, is up 5%.

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Reviving the Squid Game disaster

Poloniex, which used to be the most liquid cryptocurrency exchange in the world, is far past its glory days, despite Tron CEO Justin Sun's marketing efforts.

Earlier today, the exchange faced criticism from some of its users after listing the infamous Squid Game (SQUID) that left its investors penniless last month, with one Twitter user joking that, next, it should list Bitconnect, the most famous crypto scam.

The creators of the token were able to draw in gullible buyers and gain widespread media coverage by stealing the name of the hit Netflix TV series.

Last Monday, the token crashed 99.99% after scammers behind the token walked away with users' funds attracting even more attention.

Evidently, the "rug pull" did not completely kill the token, with Poloniex moving to list SQUID despite the fact that it has been exposed as a blatant exit scam.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.