Key Takeaways
- Indian cryptocurrency exchange CoinSwitch Kuber lists Shiba Inu (SHIB) on its platform
- The largest Indian exchange boast of having over 14 million users.
YEREVAN (CoinChapter.com) – As the year comes to a close, Shiba Inu (SHIB) coin has found another major support. Indian cryptocurrency exchange KoinSwitch Kuber announced the listing of Shiba Inu (SHIB) on its trading platform. Along with SHIB, Coinswitch also launched riskometer, a feature developed to keep users informed about the risks involving investing in particular crypto.
“The first rule of any investment is to understand the risk involved. We’re introducing Riskometer as a measure to safeguard and educate our users about the volatility of various cryptos,”
the company announced.
In the past 18 months, CoinSwitch, which is the largest crypto company in India With over 14 million users, has listed more than 80 coins in the past 18 months.
“The demand for Shiba Inu has only grown and many of our users have been asking us to list the coin on the exchange. Even as we cater to this demand, as a responsible exchange, we have built guardrails to protect our investors,”
Ashish Singhal, founder, and CEO of CoinSwitch said.
The listing has already worked its magic. The hashtag #ShibInuCoin is currently trending on Twitter following the listing.
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Shiba Inu makes inroads thanks to Shib Army
The listing on CoinSwitch Kuber comes months after the Shib Army rallied behind the coin to pressurize various exchanges to list the coin. CoinSwitch did not stay out of their target list.
Fans of the popular meme coin have been writing to the Indian market leader, asking when they will get to see SHIB on the exchange.
“Please Add Shiba Inu in coinswitch…. Listen to me @CoinSwitchKuber”
one user wrote back in May.
Months later, the community was excited when the company dropped a hint on Twitter that it plans to list SHIB. However, CoinSwitch had planned to announce the launch on 29th but had to delay owing to technical complexities.
“We aimed for the star and fell a little short Yesterday. The much anticipated New Year Surprise is delayed to an unforeseen complication. Prasad! sorry for that. Trust us it will be worth the wait. Sorry for the bump,”
the exchange tweeted in a reply to a user’s querry.
A recent report by another Indian exchange WazirX claimed Shiba Inu is among the most popular cryptocurrencies in India. This could be the reason why CoinSwitch decided to finally list SHIB, fearing t may miss out on the action.
Although Bitcoin (BTC) remains the highest-traded crypto, SHIB is the coin of choice of Indian male users.
Despite the mass excitement, however, SHIB coin is still struggling on the charts at $0.00003402. The meme coin remains 17% down from one month ago, according to data from CoinMarketCap.
As the new year kicks in, we will have to wait to see if the 14 million users of CoinSwitch Kuber will make all the difference for SHIB.
