Shiba Inu is once again in the spotlight, after Bitstamp, European top crypto exchange published an update on the coin’s listing.
Bitstamp announced that it was experiencing technical difficulties with Shiba Inu. Shiba Inu was put under some pressure as a result of this news, and the coin continued to fall in value.
In a tweet, Bitstamp stated: “No worries, we haven’t changed our minds! As you know, we needed to postpone our Shiba Inu listing. We’ve been having some technical difficulties with the integration. Rest assured it’s happening, but in 2022!”.
The new listing has sparked a wave of enthusiasm among Shiba Inu fans, as well as hope for many more first-time investors. Many additional exchanges are interested in listing this meme coin, which is increasing in value by the minute.
At the time of writing, Shiba Inu was priced at $0.00003304 and had taken a plunge by 1.57% in the last 24 hours and 4.69% in the last week.
Why this matters
Any coin’s placement on an exchange is critical since it expands the pool of possible investors. A successful listing usually results in a rally. Shiba Inu, for example, rose from $0.000039 to $0.000054 at the end of November when Kraken confirmed it will be available on the exchange.
However, it should be noted that Kraken listing failed to provide longer-term support for Shiba Inu, and the coin is trading lower after the initial rally.
The fact that Shiba Inu is listed on Bitstamp has a significant influence, as SHIB was able to achieve this functionality in less than two years after its inception.
Bitstamp isn’t just another trading platform; it’s the most reputable and user-friendly tool used by European investors. Bitstamp is the largest exchange in Europe and claims to have 4.4 billion users all over the world.