ZebPay Expands Support to Shiba Inu (SHIB)
ZebPay, India’s oldest cryptocurrency exchange with over 4 million users, has announced the listing of Shiba Inu (SHIB), the meme-inspired cryptocurrency often dubbed as a rival to Dogecoin. This move follows SHIB’s recent listings on other major platforms, including Coinbase Pro and Bitpanda.
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Key Highlights of SHIB’s Expansion
- Growing Adoption: ZebPay joins Binance, Coinbase Pro, and Bitpanda in supporting SHIB, reflecting its rising popularity.
- Market Dominance: Binance remains the largest marketplace for SHIB, accounting for over 27% of its trading volume.
- Regulatory Optimism: Despite uncertainty around crypto regulations in India, ZebPay’s CEO Rahul Pagidipati believes the country won’t ban cryptocurrencies due to strong investor demand.
Why Shiba Inu Stands Out
Shiba Inu (SHIB) emerged as a decentralized meme token in 2020, leveraging the same Shiba Inu dog mascot as Dogecoin but with a deflationary ecosystem powered by its ShibaSwap decentralized exchange. Key features include:
- Community-Driven: A robust online following fuels its growth.
- Utility: Used for transactions, staking, and NFTs within its ecosystem.
- Scalability: Built on Ethereum, enabling smart contract functionality.
India’s Crypto Landscape
Pagidipati highlighted India’s untapped potential, noting that the country holds less than 1% of global crypto assets despite a potential investor base of 100 million. A Morning Consult survey revealed that 86% of Indians trust cryptocurrencies, signaling strong grassroots adoption.
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Frequently Asked Questions (FAQs)
1. Is Shiba Inu available for trading on ZebPay?
Yes, ZebPay officially supports SHIB trading as of its latest announcement.
2. How does SHIB compare to Dogecoin?
While both are meme coins, SHIB offers a broader ecosystem with DeFi and NFT integrations, unlike Dogecoin’s simpler transactional use.
3. What’s the future of crypto in India?
Despite regulatory challenges, industry leaders like Pagidipati predict growth, driven by high demand and investor trust.
4. Where can I buy SHIB besides ZebPay?
SHIB is available on Binance, Coinbase Pro, Bitpanda, and other major exchanges.
5. Is SHIB a good investment?
As a volatile asset, SHIB carries risks. Always conduct independent research before investing.
Final Thoughts
ZebPay’s SHIB listing marks another milestone for the meme token, reinforcing its legitimacy in the crypto space. With India’s crypto market poised for expansion, SHIB’s accessibility could further accelerate adoption.
For strategic insights into emerging tokens, explore expert analyses and market trends.