Dogecoin (DOGE) rival Shiba Inu (SHIB) is continuing its 2023 price surge this week as it gets a listing on South Korea’s top crypto exchange by trading volume.
The Seoul-based Upbit, which registered more trading volume than any other exchange besides Binance in the 24 hours prior to writing, listed SHIB against the South Korean Won (KRW) on Wednesday.
SHIB is trading at $0.000012 at time of writing. The 15th-ranked crypto asset by market cap is up 0.88% in the past 24 hours and more than 33% in the past week. SHIB is also up 50% since the start of the year. However, despite the asset’s recent price gains, it still remains more than 86% down from its all-time high of around $0.000086, which it hit in October 2021.
Shiba Inu’s price surge comes amid a general upswing in the crypto markets. The meme coin is also riding a wave of hype surrounding its upcoming Shibarium project.
In a blog post published last weekend, Shiba Inu team members noted that the beta version of the SHIB ecosystem’s proposed layer-2 scaling protocol is “about to be launched.”
Shibarium aims to deliver scalability, faster transaction times, reduced gas fees and a broadened development framework, according to the official Shiba Inu blog. It will run on top of the Ethereum (ETH) blockchain.
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