Shiba Inu (SHIB) is finally listed on Rain, a top Middle Eastern crypto exchange, and two other cryptocurrencies.
Whenever the global crypto market experienced a dip, the SHIB community cheered some Big news.
Rain, the top Middle Eastern crypto exchange, has finally listed the Shiba Inu token on its business for trading purposes. The announcement was made public via tweet.
Now available? pic.twitter.com/0bR96ATqX2
— Rain (@rain) May 12, 2022
The announcement comes after Shiba Inu’s price dipped more than 31% on Thursday, hitting the most critical support level located at $0.00000952. Following the announcement, SHIB experiences a strong rebound in prices and is now trading 44% up from its recent lows. At the time of writing, the canine-themed cryptocurrency is trading at $0.00001374, with a 24-hour trading volume of $1,678,722,294 ($1.67B).
As Reported by TheCryptoBasic, Rain Based in Bahrain first asked the Shiba Inu community in March about the possible listing of the SHIB. Shib community without any doubt said YES.
Besides the most popular dog-themed cryptocurrency, the fastest-growing crypto exchange also has made Wrapped Bitcoin (WBTC) and PAX Gold (PAXG) available to trade for its users.
Shiba Inu’s listing on Rain was much awaited by the SHIB community, especially residents of Bahrain, Kuwait, Oman, Saudi Arabia, and the United Arab Emirates loyal to Rain Exchange were anxious to get their hands on SHIB because Rain Exchange is one of the top exchanges of Middle East. The platform is also trying to expand its wings beyond the Middle East and looking to provide trading services in other Asian countries.
Rain exchange has experienced record growth in the crypto industry across the Middle East and North Africa. In June 2021, the Rain exchange cheered a key milestone of crossing USD 1 Billion in trading volume, whereas, at the start of New Year 2022, the number of registered users on the exchange reached 200K.
Rain Financial had previously raised $110 million in a Series B funding round that was led by Paradigm and Kleiner Perkins. Other investors that participated in the funding round as announced by Rain Financial in January this year include Coinbase Ventures, Cadenza Ventures, Global Founders Digital, CMT Digital, and JIMCO. As reported, the funds will be deployed to enable Rain Financial to secure an operational license in more countries, improve the performance of its technology, and bolster its staff strength.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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