Shiba Inu gets a big boost after listing on the Philippines’ popular crypto exchange

The acceptance of Shiba Inu is on the rise as the meme coin is listed on Coins.ph, a popular cryptocurrency exchange in the Philippines.

Coins.ph has more than 18 million registered users and is approved by the Bangko Sentral ng Pilipinas (BSP). This means that the dog-themed cryptocurrency is available to this huge number of users, not only in this part of Asia, but the whole world.

The so-called “Dogecoin killer” Shiba Inu will be added to the existing 20 cryptocurrencies on the crypto market.

Coins.ph is one of the oldest cryptocurrency exchanges in the Philippines. The exchange was established in 2014, and shifted its focus away from cryptocurrencies and towards conventional financial services.

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Philippines’ Shiba Inu Lists ‘Most Established Crypto Brand’

The BSP regulates Coins.ph as the first blockchain firm in Asia to obtain a license as an electronic money issuer and virtual currency exchange (EMIVC).

According to their mission statement, Coins.ph is “the most established crypto brand in the Philippines and has earned the trust of over 18 million users.”

The easy-to-use smartphone app allows users to buy and sell a variety of cryptocurrencies and access a wide range of financial services on the homegrown exchange.

Image: Coins.ph

SHIB and Coins.ph’s 7 million active monthly users

Coins.ph is the first crypto-based company in Asia to hold licenses for both electronic money issuers and virtual currency issuers from a central bank. According to the website, it has 7 million active monthly users and 300 “happy” employees.

Analysts assessed the Shiba Inu price trend and predicted a rise to the bullish target price of $0.0000140. The meme coin can recover the losses and start an uptrend with a price target of $0.0000140 in mind.

Sunday’s Coingecko statistics show that Shiba Inu is currently trading at $0.00001180, up 7.1% over the past seven days.

Former Binance CFO Wei Zhou, who left the crypto exchange last May for personal reasons, bought Coins.ph in early April.

The transaction took place three years after the Indonesian technology company bought the startup for $95 million. The Philippine-headquartered cryptocurrency exchange had previously planned to offer the meme coin on July 13, but the debut faced some setbacks due to technical glitches.

Crypto total market cap at $1.05 trillion on the daily chart | Source: TradingView.com

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‘Dogecoin-Killer’ Shiba Inu Recently Listed On Bitstamp And Robinhood

Shiba Inu was recently listed on a number of major exchanges, including the largest European cryptocurrency market Bitstamp and the renowned trading exchange Robinhood.

SHIB remains at No. 15 with the biggest market capitalization after losing more than 85 percent of its value since it hit a new high in late October. In the past 24 hours, the token’s value has increased by more than 5 percent, reaching $7 billion.

According to a 2021 report, the Philippines is one of the fastest adopters of cryptocurrencies in the world. Based on a poll conducted by Singapore-based crypto and blockchain data aggregator Triple A, it is believed that around 4.3 million people, or 4% of the country’s total population, currently own bitcoin.

Featured image from Zipmex, chart from TradingView.com