The Shiba Inu (SHIB) community celebrates as the token is added to the prominent cryptocurrency exchange Nexo, marking another significant listing for the SHIB ecosystem. This listing expands the accessibility of SHIB, allowing holders to engage in various activities such as trading, borrowing, and transferring on the Nexo platform, except for residents of the United Kingdom. This move is seen as a positive development that could potentially boost SHIB adoption and demand.
Over the past six months, SHIB has seen multiple listings on various platforms, including a Japanese exchange and Coincheck. These listings have often sparked speculation about potential price surges due to increased adoption and demand. However, despite the excitement surrounding the Nexo listing, SHIB’s price has not shown immediate positive movement and remains in a downward trend as of the latest update.
Currently, SHIB is trading at $0.00002681 with a 5% decrease in the last 24 hours. Nonetheless, there are expectations within the community that SHIB may experience an upward trend in the coming days, with some experts forecasting a potential price gain of up to 70% after recent market fluctuations. This optimism is supported by ongoing improvements in the SHIB ecosystem fundamentals.
For Nexo, the SHIB listing follows its recent licensing approval from the Dubai Virtual Assets Regulatory Authority (VARA). This regulatory milestone allows Nexo to expand its services and activities, including lending, borrowing, and investment operations. While this approval represents only the initial step in the licensing process, it signifies progress for Nexo in navigating regulatory challenges and further legitimizing its operations in the cryptocurrency space.