The SHIB community is in excitement once again, even amidst the recent crypto crash, as Rain, the leading Middle Eastern cryptocurrency exchange, has finally added the Shiba Inu coin to its trading platform. The news was announced through a tweet.
The news came at the right time
The news comes after Shiba Inu’s price dropped by more than 31% on Thursday, hitting the most key support level of $0.00000952. SHIB prices have risen sharply following the announcement, and it is now trading at a 44 percent premium to its previous lows. The canine-themed cryptocurrency is now trading at $0.00001374, with a 24-hour trading volume of $1,678,722,294 ($1.67B).
The Bahrain-based exchange earlier approached the Shiba Inu community in March to inquire about the possibility of the SHIB becoming listed. Without question, the Shib community obliged.
Along with the most popular dog-themed cryptocurrency, Wrapped Bitcoin (WBTC) and PAX Gold (PAXG) are now accessible for trading on the fastest-growing crypto exchange.
The listing has been long anticipated
The SHIB community, particularly those in Bahrain, Kuwait, Oman, Saudi Arabia, and the United Arab Emirates devoted to Rain Exchange, were eager to get their hands on SHIB because Rain Exchange is one of the leading exchanges in the Middle East. The platform also attempts to grow beyond the Middle East by offering trade services in other Asian countries.
Rain exchange continues to experience rapid growth
In the Middle East and North Africa, Rain exchange has seen unprecedented growth in the crypto market. The Rain exchange celebrated a major milestone in June 2021 when trading volume surpassed USD 1 billion, while the number of registered users on the exchange surpassed 200K at the start of the New Year 2022.
Rain Financial has raised $110 million from Paradigm and Kleiner Perkins in a Series B funding round. Coinbase Ventures, Cadenza Ventures, Global Founders Digital, CMT Digital, and JIMCO were among the other investors in the investment round disclosed by Rain Financial in January of this year. The cash will be used to help Rain Financial gain operational licenses in other countries, improve the performance of its technology, and expand its workforce, according to reports.