The acceptance of Memecoin Shiba Inu continues to spread in India, while the SHIB token could protect the Turks from inflation.
While US cryptocurrency exchange Robinhood has yet to get a listing of Shiba Inu, Indian market leader Ubocoin is already one step further. Because the company announced last mondayto allow its customers to buy and sell with the most important Memecoins currently, Dogecoin and Shiba Inu, from now on. While Doge can be traded against the national currency rupee, Shiba Inu can only be traded in conjunction with Stablecoin Tether (USDT).
Shiba Inu is still on the rise. Just yesterday, BTC-ECHO reported significant progress in adapting North American retail chains. So the expansion continues in India as well. In early October, actually before the actual start of the hype, ZebPay listed the SHIB token. Last month, CoinDCX, India’s number one crypto unicorn, integrated Shiba Inu into its retail-focused app.
The Turkish Lira / Shiba Inu trading pair is making strong gains
Meanwhile, there is a tendency for many Turkish citizens to turn to SHIB to protect their national currency from inflation. This stems from media reports investigating the trading of certain cryptocurrencies with the Turkish lira (TRY). Consequently, the trading volume for the BTC / TRY trading pair on Binance was $ 918 million in November. This is less than a fifth of the trading volume of the SHIB / TRY ($ 5.26 billion) and USDT / TRY ($ 5.58 billion) trading pairs. The Turkish lira has lost 87 percent of its value this year. Currently, the country’s inflation exceeds 20 percent. Crypto-based payments are prohibited in Turkey. however, its possession is permitted by law.