Dogecoin (DOGE) rival Shiba Inu (SHIB) has been listed on South Korea’s top cryptocurrency exchange by trading volume, continuing its 2023 gains this week.
Seoul-based Upbit has recorded more trading volume than any exchange other than Binance in the 24 hours prior to writing. Have been described SHIB against South Korean Won (KRW) on Wednesday.
At the time of writing, SHIB is trading at $0.000012. The 15th largest crypto asset by market capitalization is up 0.88% over the past 24 hours and over 33% over the past week. SHIB is also up 50% year-to-date. However, despite the asset’s recent rally, it remains down more than 86% from its all-time high of around $0.000086 set in October 2021.
The Shiba Inu price spike comes amid a general rise in the cryptocurrency market. Meme Coin is also riding a wave of hype surrounding the upcoming Sibarium project.
In a blog post published over the weekend, a member of the Shiba Inu team said that the beta version of the proposed Layer 2 scaling protocol in the SHIB ecosystem is “coming soon.”
According to Shiba Inu’s official blog, Shibarium aims to achieve scalability, faster transaction times, lower gas bills, and a wider development framework. It runs on the Ethereum (ETH) blockchain.
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