© Reuters. Binance Lists New Shiba Inu (SHIB) Trading Pair
Crypto exchange Binance has listed a new (CRYPTO: SHIB) trading pair on its platform.
What Happened: In an announcement on Thursday, Binance said it had added support for SHIB/GBP.
#Binance adds new trading pairs!
— Binance (@binance) May 5, 2022
The new trading pair joins existing fiat, cryptocurrency, and stablecoin pairs for the meme-based cryptocurrency. Some popular pairs include (CRYPTO: BTC) SHIB/BTC and (CRYPTO: USDT) SHIB/USDT.
See Also: HOW TO BUY SHIBA INU COIN (SHIB)
The most popular pair to be introduced was in November when Binance introduced a (CRYPTO: DOGE) SHIB/DOGE trading pair so that crypto traders could benefit from the mean reversion between the two dog-themed cryptocurrencies.
SHIB is trading 76% below its all-time high of $0.00008616 and DOGE is trading 82% below its peak of $0.73. Both assets have remained in the top 15 cryptocurrencies by market cap, despite weaker price action in recent months.
Major retailers like AMC Entertainment Holdings Inc (NYSE: AMC) have accepted the meme coins as payment. Most recently, luxury retail brand Gucci said it would accept cryptocurrencies, including SHIB and DOGE at several retail stores in the U.S.
Price Action: According to data from Benzinga Pro, SHIB was trading at $0.00002019 at the time of writing.
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