KEY POINTS

  • SHIB is trading 5.56% down at $0.00003124
  • Shiba Inu has slowly recovered from its slump since December 2021
  • Foxbit announced it will start trading SHIB on Feb. 16

Shiba Inu, the Dogecoin-killer meme coin enjoyed a series of rapid price increases over the past week and it is believed to set for another major price hike as SHIB gets listed on a Brazillian cryptocurrency exchange.

SHIB and other cryptocurrencies have staged a recovery over the past week or so but it does not mean that these digital currencies are clear from the grip of the bears. Shiba Inu, which is currently slowly recovering could further get a major boost from Foxbit listing.

Foxbit, a major Brazilian cryptocurrency exchange, said the Shiba Inu coin will be listed on its platform from Feb. 16. From that day, all 950,000 registered customers of the trading platform will be able to buy, sell and transact the meme coin.

Shiba
SHIB is the main currency in the ecosystem Shiba Token - Twitter

In a tweet Foxbit said, (rough translation): "Make way for the sweetest doggo in the crypto universe! We didn’t expect this either, but we are like this. Shiba Inu is coming to Foxbit! As of 02/16, you can trade Shiba Inu with us. Are you excited?"

At the time of writing, Shiba Inu is trading 5.56% down at $0.00003124, with a market cap of $17,122,116,854. This performance makes the meme coin one of the top 20 cryptos on Coinmarketcap.

Foxbit is not the first cryptocurrency exchange in Brazil to list SHIB. In December, Mercado Bitcoin, the country's biggest platform added support for SHIB. Still, the Foxbit listing will open the floodgates to thousands of new users into Shiba Inu and its trading volume is expected to increase too.

Foxbit is one of the oldest cryptocurrency exchanges in Latin America and was launched in 2014. In 2020 alone, the platform's transacted assets were worth 4 billion Brazillian Real or around ($771 million) and 203,000 Bitcoins.

South America, and Brazil, have a massive base of SHIB investors, together with India and the rest of Asia. Aside from the top trading platforms that have listed SHIBA globally, five exchanges across the globe also listed the DOGE-killer on their platforms.

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