Shiba Inu acceptance is on the upswing as the meme coin gets listed on Coins.ph, a popular cryptocurrency exchange in the Philippines.
Coins.ph has more than 18 million registered users and is approved by the Bangko Sentral ng Pilipinas (BSP). This means that the dog-themed cryptocurrency is accessible to this massive number of users not only in this part of Asia but the whole world.
The so-called “Dogecoin-killer” Shiba Inu will be added to the existing 20 cryptocurrencies on the crypto market.
Coins.ph is one of the oldest cryptocurrency exchanges in the Philippines. Established in 2014, the exchange shifted its focus away from cryptocurrencies and toward conventional financial services.
The BSP regulates Coins.ph as the first blockchain firm in Asia to get a license as an Electronic Money Issuer and Virtual Currency exchange (EMIVC).
According to their Mission statement, Coins.ph is “the most established crypto brand in the Philippines and has earned the confidence of over 18 million users.”
The user-friendly smartphone app allows users to purchase and sell a number of cryptocurrencies and gain access to a vast array of financial services on the homegrown exchange.
Coins.ph is the first crypto-based company in Asia to hold both Electronic Money Issuer and Virtual Currency Issuer licenses from a central bank. According to its website, it has 7 million active monthly users and 300 “happy” employees.
Analysts assessed the Shiba Inu price trend and forecasted a run up to the bullish goal price of $0.0000140. The meme coin could recover its losses and begin an uptrend with a $0.0000140 price objective in mind.
Sunday’s Coingecko stats show that Shiba Inu is presently trading at $0.00001180, an increase of 7.1% over the last seven days.
Former Binance Chief Financial Officer Wei Zhou, who departed the crypto exchange behemoth in May last year for personal reasons, acquired Coins.ph in early April.
The transaction took place three years after the Indonesian technology company purchased the startup for $95 million. The Philippine-headquartered cryptocurrency exchange had previously planned to offer the meme coin on July 13, but the debut encountered some setbacks because of technical glitches.
Shiba Inu was recently listed on a number of major exchanges, including the largest European cryptocurrency market, Bitstamp, and the renowned trading exchange, Robinhood.
SHIB remains on the No. 15 spot with the largest market capitalization after losing more than 85 percent of its value since setting a fresh high in late October. In the past 24 hours, the token’s value has increased by more than 5 percent, reaching $7 billion.
According to a report from 2021, the Philippines is one of the fastest users of cryptocurrencies in the world. Based on a poll conducted by Singapore-based crypto and blockchain data aggregator Triple A, it is believed that around 4,3 million people, or 4% of the country’s total population, presently own bitcoin.
