CryptoCom has added a new pair for Shiba Inu (SHIB) on its popular trading application as exchanges grapple for a share of SHIB volume.
Crypto.com users trading Shiba Inu (SHIB) on the platform recently welcomed the addition of a new trading pair. The exchange added the SHIB/CORGIAI pair, making it easy for users to swap between both tokens.
CORGAI is a community-focused project that unites users to share their opinions on the emerging field of AI. The project, which counts Crypto com backed blockchain Cronos as a partner, will now see its token trade alongside the more prominent Shiba Inu.
At the same time, Crypto.com also introduced a DOGE/CORGIAI trading pair, allowing users to trade the most valued memecoin project for the less popular one. Overall, the new pairs reflect a desire to gain more market share as trading volume for DOGE and SHIB resurges. Shiba Inu, specifically, has enjoyed a fine spell in recent weeks with dominant trading volume across exchanges.
New trading pairs are now available in the https://t.co/vCNztATkNg App! ?
DOGE/CORGIAI
SHIB/CORGIAIGet the App ? https://t.co/iIoKFVnKVQ pic.twitter.com/b4eegsjGhw
— Crypto.com (@cryptocom) January 3, 2024
SHIB Leads Trading Activity
Although the market for community-based blockchain projects is widely saturated, Shiba Inu has earned its place as one of the most popular options. Besides being the second-largest by market capitalization, Shiba Inu enjoys significant trading volume across popular venues.
For instance, The Crypto Basic recently reported that SHIB ranks among the top traded tokens in India, outpacing more popular coins, XRP and ETH. Shiba Inu is also popular outside of the South Asian country, with UAE-based investors reckoning it is as popular as Bitcoin and Ethereum.
Over the past 24 hours alone, SHIB trading pairs across exchanges posted a $163 million trading volume, making it the 61st highest in the crypto market over the past 24 hours. Binance and Coinbase captured $50 million of the entire volume, with other exchanges such as OKX, Kucoin, and Gate.io also in the mix.
Hence, it is not surprising that other exchanges continue to expand support for SHIB in various ways. Such support opens the opportunity to attract more users and trading volume, especially as the market tilts toward a fully bullish mode.
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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