Binance Japan’s Japanese arm has introduced a new trading pair for Shiba Inu, resulting in a temporary surge in the SHIB price to $0.00011. On Monday, Binance Japan announced that it would be adding a Japanese yen-denominated trading pair for Shiba Inu on its spot platform by April 30. The exchange has already commenced trading for the SHIB/JPY pair, giving Japanese Shiba Inu enthusiasts the opportunity to trade their favorite token against the local currency. The announcement also highlighted that the newly listed SHIB/JPY pair is eligible for a fee-free campaign on buying and selling transactions. Consequently, Binance Japan encouraged Shiba Inu enthusiasts to take advantage of this opportunity for spot trading. In addition to the SHIB/JPY pair, Binance Japan recently listed trading pairs for Solana, XRP, and Cardano against the Japanese yen. The news of Binance Japan’s new listing move was brought to the attention of the Shiba Inu community by KURO, a well-known Japanese community member. Kuro shared a screenshot showing the increased trading activity surrounding the SHIB/JPY pair, with SHIB’s price briefly reaching 0.016666 against the Japanese yen. In terms of dollar value, 0.016666 JPY is equivalent to $0.00011, which is a substantial increase compared to Shiba Inu’s current market cap of $0.00002231. This surge represents a significant gain of 361.92% from the opening trading price of 0.003608 JPY and occurred less than an hour after the SHIB/JPY listing. The price of SHIB stabilized at 0.003741 JPY at the time of the screenshot, and Japanese Shiba Inu enthusiasts traded 106.39 million SHIB, valued at 421,078 JPY. Kuro expressed belief that 0.016666 ($0.00011) will soon become the base price for SHIB, rather than a temporary high. He suggested that this price point will be reached once the Shiba Inu development team successfully partners with global partners they have been pursuing. It is important to note that this content is for informational purposes only and should not be considered financial advice. The views expressed in this article are the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.
