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SHIB Jumps 25% as Token Gets Listed on Top Middle East Crypto Exchange

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Fri, 05/13/2022 - 09:02
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Yuri Molchan
Another leading global exchange adds support for Shiba Inu trading after recent Robinhood listing
SHIB Jumps 25% as Token Gets Listed on Top Middle East Crypto Exchange
Cover image via stock.adobe.com

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After two months of consideration, the leading crypto trading venue in the Middle East, Rain platform, has decided to finally kick off Shiba Inu trading, expanding the meme token's adoption and trading volume.

Meanwhile, in the past 24 hours, Shiba Inu has registered a rise by 25%.

SHIB is listed by Rain

Rain is based in Bahrain. In 2019, it was the first crypto trading platform in the Middle East to be fully licensed after receiving approval from the Central Bank of Bahrain.

In March, the official Twitter account of Rain asked the community if the platform should list the second largest meme token.

Now, in a recent tweet, the company announced that it had finally added support for Shiba.

Earlier this year, Shiba Inu was also listed on several other platforms, including Parex decentralized exchange and Robinhood trading app.

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Whale buys 455 billion SHIB, sells at profit

WhaleStats crypto tracking service that tracks and shares data on the largest wallets on Ethereum, Polygon, BNB and other chains, has tweeted that another eye-popping amount of Shiba Inu has been bought by a major whale on the ETH chain.

The owner of the "BlueWhale0073" wallet has acquired a whopping 455,957,607,129 SHIB tokens. This large amount of canine crypto cost him $4,933,461.

By now, however, the whale has sold the majority of his SHIB after the token's price staged a 25 percent rise, going from $0.00001056 to $0.00001320 on the Binance exchange.

SHIBgoesup25%_00weasd
Image via TradingView

The amount of SHIB this whale has left is tiny now and, along with other small tokens – UNI, HEX, etc. – comprises $17,976, or merely 0.25% of his portfolio. Shiba Inu totaled 90% of the incoming tokens and then 82% of outgoing ones.

The major holdings of this whale at the moment are USDC (the largest asset owned by him), MATIC and LINK.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.