By George Ward
The Shiba Inu network recently announced that its native asset, SHIB, has scored another milestone following its listing on the Philippine-based crypto wallet service provider, Coins Pro. The latest development follows recent reports that the Shiba Inu ecosystem is the second most secure protocol in the industry.
SHIB Sees New Listing
Following a slew of positives at the start of the year, SHIB recorded another achievement after it was announced that Coins.ph, the parent company of the crypto wallet service provider Coins Pro, listed the token on its trading floor.
Since its inception in 2014, Coins.ph has more than 18 million registered users, providing users access to multiple digital financial services via its immersive mobile application. On the other hand, Coins Pro is a crypto exchange where users can buy and sell a wide range of virtual currencies in significant numbers and for lower costs.
In addition, Coins Pro is reported to be the first crypto exchange in the Philippines before digital asset use became mainstream. The firm also has an e-wallet where users can store their funds.
With the listing of SHIB, users can buy, sell, and store the famous canine digital currency on the platform. After it shot into the limelight in 2021, SHIB has seen several listings on well-known and less popular crypto exchanges, with several crypto service providers expanding their support for the token.
Weeks ago, TeraExchange announced its listing of SHIB to boost the token’s use in the centralized crypto ecosystem.
SHIB’s Burn Rate Down By Over 5%
Over the past 24 hours, more than 14 million SHIB tokens have been burned. However, the token burn rate is down 5.12%, per the ShibBurn site.
It is worth noting that the burn rate is a collective effort by the Shiba Inu community to cut down the supply of the digital meme asset, increasing its value. However, there have been instances where the burn rate was lower than the network anticipated.
But the strong community usually finds ways to meet some of the quotas. In the past few weeks, the asset’s burn rate has soared as the amount of SHIB burned continues to boost the token’s price.
Compared to its closest rival, Dogecoin, who continued to fight to dominate the meme crypto standings, SHIB’s rise has been impressive despite the harsh crypto winter. Several wallets have sent their SHIB tokens to dead addresses, with billions of SHIB burned before the end of 2022.
At the time of writing, SHIB trades at $0.0000118, with a 7.4% drop in value in the past 24 hours, per CoinMarketCap data.