Violet Vallaya
Backpack Exchange, a crypto platform operating under the regulatory framework of the British Virgin Islands, has launched Shiba Inu (SHIB) trading. The announcement came via a tweet Monday, revealing that trading for the popular canine-themed token is now live.
Backpack paired Shiba Inu against Circle’s stablecoin (USDC), allowing users to trade SHIB with confidence. The trading commenced at 10:00 AM (UTC) on May 20, marking a milestone for the SHIB community.
Launched in 2023, Backpack is a next-generation exchange that caters to crypto enthusiasts worldwide. It enables users to buy and sell various crypto assets, including Bitcoin (BTC), Ether (ETH), and even the whimsically named dogwifhat (WIF). The exchange’s global reach extends to Africa and Europe, making it a versatile platform for traders.
With Shiba Inu trading now live on Backpack, the exchange supports a total of 25 crypto assets, all paired against USDC. As of today, the live price of Shiba Inu stands at $0.0000257, with a 24-hour trading volume of a whopping $1.28 billion, up by 234.77%, according to data from Coinmarketcap. Also, SHIB has surged by 120% in 2024, sparking speculation about further gains.
As SHIB continues to attract attention, its market capitalization stands at $14.93 billion, making it one of the top cryptocurrencies by market cap. With the launch of ShibaSwap 1.75 and growing adoption, the Shiba Inu community eagerly awaits further developments.
