Despite the ongoing cryptocurrency bear market impacting the prices of well-known altcoins like Shiba Inu (SHIB) and Dogecoin (DOGE), these digital assets are still securing prime spots on leading exchanges.
In the latest development, BitTrade, a reputable crypto trading platform from Japan, announced its plans to onboard SHIB and DOGE. Set to facilitate deposits and withdrawals for these assets starting October 18th, the platform plans to kick off trading soon after. This addition elevates BitTrade’s portfolio, now proudly showcasing 34 coins as of today’s statement.
Prospective traders won’t be restricted to a single avenue; they can effortlessly trade SHIB and DOGE via the BitTrade website application.
Furthermore, the platform’s built-in exchange feature provides users with the flexibility to convert assets, ensuring a fluid trading experience.
While BitTrade’s recent trading volume is a modest $5 million over the last 24 hours, it’s noteworthy that the company stands among the few in Japan with a regulatory license. Adding to its credentials, the influential trading platform Huobi holds ownership of BitTrade.
Public Demand for SHIB and DOGE Persists Despite Market Downturn
The move by BitTrade to embrace SHIB and DOGE during a bearish phase speaks volumes about the enduring demand for these coins.
Contrary to newer crypto projects that often pay for exchange listings, stalwarts like SHIB and DOGE naturally attract listings, courtesy of their vast investor base.
BitTrade is optimistic that integrating SHIB and DOGE trading pairs will attract a broader user base, potentially amplifying both platform usage and revenue. This strategy isn’t new; it echoes the actions of its peers.
Earlier in August, prominent exchanges such as Binance, Okcoin, and Bitpoint ventured into the Japanese market, supporting SHIB trading from day one. Likewise, the SBI-backed SBI VC Trade gave a nod to SHIB in June, adding another platform for Japanese investors to explore this asset.