Backpack Exchange Embraces Shiba Inu, Expanding Crypto Trading Oasis

Backpack, a British Virgin Islands-regulated crypto exchange, has announced the launch of Shiba Inu (SHIB) trading on its platform. Backpack has enabled SHIB trading against Circle's USDC stablecoin, effective today at 10:00 AM (UTC). The exchange currently supports 25 crypto assets, all paired against USDC. Backpack has a 24-hour trading volume of $27.88 million, with SHIB/USDC being the most active pair. Shiba Inu's volume on Backpack remains relatively low, and the listing has not significantly impacted its price.

Backpack Exchange Unleashes Shiba Inu Trading, Expanding Crypto Oasis

London, May 20, 2024 - Backpack, the British Virgin Islands-regulated cryptocurrency exchange and wallet provider, has announced the commencement of Shiba Inu (SHIB) trading on its platform. This strategic move signals Backpack's commitment to expanding its crypto asset offerings and catering to the burgeoning demand for innovative digital currencies.

"We are thrilled to introduce Shiba Inu trading to our platform," said a Backpack spokesperson. "Its inclusion aligns with our mission to provide users with access to diverse and high-potential crypto assets."

Shiba Inu Goes Live on Backpack

Backpack's Shiba Inu trading commenced at 10:00 AM (UTC) today, pairing the canine-themed token with the Circle stablecoin (USDC). This pairing offers traders stability and facilitates seamless transactions.

Backpack's Crypto Exchange Offerings

Backpack is a next-generation cryptocurrency exchange launched in 2023. It allows users to buy and sell an array of crypto assets, including Bitcoin (BTC), Ether (ETH), Solana (SOL), and dogwifhat (WIF). The exchange's presence extends across Africa and Europe, catering to a global user base.

With the addition of Shiba Inu, Backpack's platform now boasts support for 25 crypto assets, all paired against USDC. The exchange's 24-hour trading volume stands at an impressive $27,885,596 ($27.88 million), marking a 58% daily surge.

Shiba Inu's Impact on Backpack

Since its launch on Backpack, Shiba Inu has generated a trading volume of $59.51. While this figure may not significantly impact SHIB's overall market price, it demonstrates the growing interest in the token within Backpack's user base.

At the time of press, Shiba Inu was trading at $0.00002407, experiencing a 0.35% decline over the past 24 hours.

Shiba Inu's Exchange Listing Momentum

Backpack's Shiba Inu listing adds to the growing momentum of exchanges supporting the token. Binance Japan recently listed SHIB, witnessing a momentary surge of 360% in its price. Last month, Nexo finally succumbed to community demand, adding SHIB to its platform and releasing an educational piece to highlight its significance.

More Exchanges Expected to Embrace Shiba Inu

As Shiba Inu continues to gain prominence within the cryptocurrency ecosystem, its presence on exchanges is expected to expand further. Backpack's listing is a testament to the token's growing popularity and the exchange's commitment to providing users with access to sought-after digital assets.