Backpack, a British Virgin Islands-regulated crypto exchange and wallet provider, says Shiba Inu (SHIB) trading is now live on its platform.
The exchange made the announcement in a tweet today, stating that trading for the canine-themed token has gone live.
Trading is live for $SHIB — https://t.co/uqi9xnDDn0
Dog token fun pic.twitter.com/JJAmf0f1vC
— Backpack 🎒 (@Backpack) May 20, 2024
Notably, Backpack paired Shiba Inu against Circle stablecoin (USDC), as trading commenced today at exactly 10:00 AM (UTC). Although Shiba Inu trading has commenced on Backpack, the exchange did not disclose whether it has enabled deposit and withdrawal services for SHIB.
Backpack Exchange Offering
Launched in 2023, Backpack is a next-gen exchange that allows users to buy and sell crypto assets, including Bitcoin (BTC), Ether (ETH), Solana (SOL), and dogwifhat (WIF), among others. The exchange is registered in the British Virgin Islands and operates in different parts of the world, including Africa and Europe.
With Shiba Inu trading now live on Backpack today, the exchange now supports 25 crypto assets. All supported crypto assets are paired against USDC.
Backpack boasts a 24-hour trading volume of $27,885,596 ($27.88 million), marking a daily surge of 58%. The most active trading pair on the exchange is SHFL/USDC, which has registered a 24-hour volume of $18.06 million.
Since Shiba Inu went live on Backpack, users have only traded $59.51 worth of SHIB on the platform. Shiba Inu’s volume on Backpack is not enough to impact the price of SHIB.
The token was trading at $0.00002407 in the hours leading up to press time, representing a 24-hour decline of 0.35%.
Shiba Inu Listing on Exchanges Soars
The listing has further expanded Shiba Inu’s availability to more crypto enthusiasts. Before Shiba Inu’s listing on Backpack, several crypto exchanges recently rolled out support for the token.
Binance Japan is included in the list of exchanges that recently listed SHIB. At the time of the listing, Shiba Inu witnessed a momentary surge of 360%, with SHIB’s price hitting $0.00011 on Binance Japan.
Last month, Nexo finally listed SHIB after ignoring the demands of Shiba Inu community members. The exchange further affirmed SHIB’s listing by releasing an educational piece focusing on the token.
More exchanges are expected to list Shiba Inu as the asset continues to gain prominence.