In the second half of 2021, there was a significant shift in the narrative of meme coins, like Shiba Inu, which has been long criticized for offering little to no use cases. The adoption of Shiba Inu has steadily increased, as it finds increasing use cases across various sectors.
Recently, the largest cinema chain company in the US, AMC Theaters, announced it will also add Shiba Inu as a ticket payment option. In addition, in November, crypto exchanges Kraken and Gemini also added Shiba Inu to their trading platforms.
Shiba Inu is back in the news, and this time, Europe’s biggest crypto exchange has announced that it will be listing SHIB come 2022. Launched in 2011, Bitstamp is also one of the oldest regulatory compliant cryptocurrency exchanges.
Shiba’s Listing Delayed
The initial announcement from Bitstamp revealed the exchange’s plans to list SHIB on December 9 at 8:00 AM (UTC). However, the exchange faced technical difficulties and was forced to delay the listing of SHIB.
Since the announcement was made, the price of SHIB has risen by more than 5%. SHIB now trades at $0.00003398. The Shiba Army holds out hope that the coin will rally even more when the SHIB eventually features on Bitstamp.
The Shiba Inu (SHIB) price chart since the Bitstamp announcement. Source: Tradingview
On the Flipside
- SHIB, which was once the best performing crypto in 2021, now trades 60.5% down from its October 28 ATH of $0.00008616.
Why You Should Care
Shiba’s transition away from a meme coin has led to its increasing acceptance and adoption by industry leading firms.