Shiba Inu Listed on Former Binance Top Exec’s Exchange

On Wednesday, Philippines-based crypto exchange Coins.ph announced that it has listed Shiba Inu (SHIB) on its platform. 

Shiba Inu listing was delayed, says Coins.ph

Founded in 2014, Coins.ph had initially diversified away from crypto, focusing majorly on mainstream financial services. However, its focus soon changed after erstwhile top executive at Binance, Wei Zhou, left the leading crypto exchange sometime in May 2021, acquiring the platform by early April this year. At the time he left though, Zhou claimed he left Binance for personal reasons.

Meanwhile, Shiba Inu was earlier slated to be listed on the Coins.ph platform on July 13. But the launch was reportedly postponed due to technical issues that arose prior to that time.

Growing popularity for the meme coin

Notably, the meme coin Shiba Inu, is arguably one of the most recognized alternative coins (altcoins) available. And it has a very popular demand as well. For this, many platforms like Coins.ph have had no choice but to add support for the token.

Putting the above statement into perspective, top trading app Robinhood saw over 500,000 Change.org petition signatures to list Shiba Inu in April. And it eventually did. Also in early June, the canine meme coin was listed on Europe’s largest crypto exchange, Bitstamp.

Interestingly, Shiba Inu continues to be in the top 15 ranking of cryptocurrencies by market capitalization. This is despite it falling by over 85%/from its peak back in late October 2021.

As of publication, however, the token is currently valued at nearly $7 billion and its price has surged by roughly 2% in the past 24 hours. CoinMarketCap data also suggests that the token generated over $1 billion in trading volume in the last 24 hours, with Binance’s SHIB/USDT pair accounting for more than 15% of that volume.