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Rain exchange, a leading crypto exchange based in the Middle East, has officially confirmed that SHIB tokens are now listed on its platform, and traders can start trading on the meme token immediately.

The move comes two months after various consultations and considerations. The SHIB army expects that the new listing would drive greater token adoption in that region. Within 24 hours of the official statement by the Rain exchange, the SHIB token gained 25%.

Rain Platform Lists SHIB Token

Following the issuance of an operating license by Bahrain’s apex bank in 2019, the Rain platform became the first crypto exchange in the entire middle east. Two months ago, Rain polled its Twitter audience seeking their opinion on whether to list the SHIB token. 

On Friday, the platform’s Twitter account confirmed that the SHIB token can now be traded on the rain platform. This year has been phenomenal for SHIB token listing as Rain becomes the third platform (after Parex DEX and Robinhood platform) to list SHIB tokens for trading on their respective platforms.

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Top Ethereum Whale Buys 455B Worth Of SHIB Tokens

An on-chain analytics platform that tracks activities of crypto whales, Whalestats, has revealed via Twitter that a top Ethereum whale (bluewhale0073) has bought 415B SHIB tokens valued at nearly $5M.

However, WhaletStats further claimed that the 303-ranked whale had sold much of her SHIB holdings after the meme token soared by 24% following its listing on the Rain platform. The crypto holdings of this whale now consist of small tokens like UNI and HEX.

Whalestats made this deduction as it observed that this whale’s tokens which comprise 90% of SHIB tokens, had been reduced by 82%. Following the sale of her SHIB tokens, this whale’s largest holding is now the USDC stablecoin, MATIC, and LINK, in that order.

SHIB Army Burns Nearly 608M SHIB Tokens In 24 Hours

Meanwhile, the SHIB token burn tracker, Shibburn, has revealed that almost 608M SHIB tokens have been burned in multiple transactions over the past 24 hours.

According to the Shibburn portal, the amount of SHIB tokens burned on Thursday represents a 307.56% increase from the 182.18 SHIB tokens burned in 14 previous transactions. The SHIB burn portal, launched late last month, has recorded over 27B burnt SHIB tokens in nearly 1,000 transactions.

According to Etherscan data, one wallet burnt over 460M SHIB tokens (valued at over $6K) in two different transactions. The Etherscan data also revealed that this anonymous wallet recently purchased over 468M SHIB tokens before sending all of them to the dead wallet.

The identity of the wallet hasn’t yet been disclosed. SHIB token has gained 23.39% in the past 24 hours per the latest Coinmarketcap data. The new listing and burned tokens may have contributed to the price surge of the SHIB token.

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Alicia Maher

By Alicia Maher

Alicia Maher is an accomplished news writer with a passion for storytelling. With years of experience in the field, she is skilled at delivering accurate, engaging, and insightful news coverage to her audience.