Shiba Inu (SHIB) Rival Rallies Over 40% Prior to Announcement of Major Exchange Listing for Perpetual Contract

Shiba Inu (SHIB) competitors have made headlines, leading to the announcement of a major crypto exchange that allows perpetual contracts for dog-themed crypto assets.

Dubai-based cryptocurrency exchange Bybit on Friday clearly Added support for Floki Inu (FLOKI) perpetual contracts with up to 12.5x leverage.

Floki Inu’s Twitter account welcomed Bybit’s move is a sign that people are starting to take notice of Dogecoin (DOGE) rivals.

“This is a major move that justifies further. Floki It also shows that key industry players continue to view it as a mature asset.

Note: Leveraged trading is highly risky and volatile. You can lose all your funds. Do not use leverage unless you are an experienced trader who knows what you are doing!”

Ahead of Bybit’s announcement, FLOKI made a big rally last week, jumping from a low of $0.000038 on February 22 to a high of $0.000054 the next day. This is an increase of 42%. The 99th largest crypto by market cap has retreated slightly since then, trading at $0.000049 at the time of writing, and he’s up more than 3% in the last 24 hours.

Floki recently outperformed both SHIB and DOGE, up almost 100% from its February opening price of $0.000025.

Last week, the team behind FLOKI announced that they are teaming up with the Venus Project, the second largest decentralized finance (DeFi) ecosystem on the BNB chain. This collaboration will allow FLOKI holders to use their coins as collateral to borrow other crypto assets.

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