Shiba Inu Coin will now be on Euler

• Shiba Inu is getting listed on various exchange platforms.
• Euler recently added it; before that, CoinDCX did the same.
• Recently Shiba Inu users collectively burnt $SHIBs now, 59% of Shiba Inu tokens remain in supply, and it has a market capitalization of approx $16 Billion.

Meme-coin Shiba Inu has now been listed in one more exchange platform, Euler. Euler is an Ethereum based permissionless exchange protocol. It will now provide facilities for non-custodial borrowing and lending Shiba Inu coins. This is yet another listing of Shiba Inu on an exchange platform. It was recently listed on CoinDCX, an Indian Centralized exchange platform, and in November, it had listed in US-based cryptocurrency exchange Kraken. 

Frequent listing and recent burning might result in an uprising in the price of Shiba Inu coins. Both these events are considered value-adding events in the case of cryptocurrencies, but Shiba Inu has not shown any considerable jump yet. Although the Shiba Inu coin price skyrocketed last year, it has been falling since October. After Shiba Inu’s listing on Kraken, it had seen a jump in its price, but it didn’t last for long, and soon it started dropping. Dropping of price has been happening with the meme-coin since October now. But still, the Shiba Army had a lot of trust in the Shiba Inu, and they meant to hold it for long. 

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Euler announced the listing of Shiba Inu on Twitter. It further stated that now platform’s users can use Shiba Inu for borrowing and lending on Euler as they were doing with another crypto. This Euler also lets the users have the facility of hedging their position by shorting or borrowing. The platform also said that the passionate Community of Shiba Inu had driven it at this stage and got the benchmark of $16 Billion in a brief period.   

Shiba Inu is considered to be a community-driven Cryptocurrency, and it is. Every step taken in crypto has interference from the Community; for instance, take the example of the recent burning of Shiba Inu Coins by nine stakeholders who had a massive amount of coins. Those investors collectively decided to burn some coins from their profit shares so that the downfall of the coin can be controlled, and it may minimize the vast amount of the coin as well. Still, the freefalling of the coin continued. 

Johnny Lyu, CEO of cryptocurrency exchange platform KuCoin, said that Shiba Inu was meant to hold for a long time, despite its price falling. It is because the cryptocurrency like Bitcoin meant for investing make it an option for hedging against inflation, Shiba Inu reflects the strength of the Community, and as long as the user holds the token, he remains part of the Community and holds the power of being a member of the $SHIB army.