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.
[adinserter block="1"]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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