Shiba Inu is poised to be listed on CoinMENA, a regulated digital assets exchange authorized by the Central Bank of Bahrain.
CoinMENA operates under official monitoring in the Middle East, offering investment services across several countries including Bahrain, Kuwait, Saudi Arabia, Oman, and the United Arab Emirates. Notably, CoinMENA has also secured a provisional virtual assets license from Dubai’s Virtual Assets Regulatory Authority (VARA).
CoinMENA, the prominent exchange in the Middle East, recently hinted at the possibility of listing Shiba Inu (SHIB) on its platform. Although no official announcement has been made yet, the tweet suggests that the Ryoshi-founded token could potentially be added to CoinMENA’s list of supported cryptocurrencies.
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CoinMENA recently teased the addition of new tokens, providing a hint that strongly suggests the arrival of Shiba Inu (SHIB), the meme-inspired cryptocurrency. Given that Dogecoin, another meme currency, is already tradable on the exchange, the caption strongly points towards Shiba Inu as the potential addition. We will keep readers informed about any updates regarding the listing of Shiba Inu on the CoinMENA platform.
How Has Shiba Inu Fared in 2023?
Shiba Inu started off strong in 2023 with an impressive 77% increase in value from January to February. However, the token experienced a decline in March and has been unable to regain its previous highs. In May, SHIB suffered a significant drop, adding an extra zero to its price. Currently trading at $0.00000886, the token has struggled to generate bullish sentiment and its price remains stagnant.
The launch of the Shibarium layer-2 solution failed to generate the expected hype, causing investors to shy away from the token. The overall sentiment among grassroots investors for SHIB is currently negative due to its lackluster performance in the second quarter. Investors are hesitant to anticipate a price spike in the near future, leading to skepticism surrounding the token.
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As of now, SHIB is trading at $0.00000890, representing a 0.4% decrease in the past 24 hours. The token has also experienced a substantial decline of 89.66% from its all-time high of $0.00008616, reached in October 2021.