Shiba Inu (SHIB) Gifted in Millions by Top Japanese Exchange as Burn Rate Soars 249%

The Japanese guard dog-themed memecurrency Shiba Inu (SHIB) has finally come home, as Bitpoint announced the listing of the canine coin by the end of November 2022. Further on, the Japanese cryptocurrency exchange is preparing a welcome gift of 1,000,000 SHIB tokens for newly registered users. Moreover, according to the official announcement, the one million SHIB giveaway is one out of four campaigns that will run in celebration of the listing.

The powerful woof of the SHIB community has been heard, as Bitpoint is ready to launch SHIB trading pairs on November 30th, 2022. Interestingly, SHIB was nowhere to be found on the Japanese crypto platforms, mainly due to strict regulations and the harsh crypto market conditions for the better part of 2022.

However, fellow Japanese crypto exchange Bitbank listed rival canine coin Dogecoin (DOGE) in August, but that didn’t fully satisfy crypto enthusiasts in Japan. Soon after DOGE’s inclusion, the SHIB Army took to Twitter to pen a petition for several popular Japanese crypto exchanges to finally list SHIB.

Besides the aforementioned 1,000,000 welcome gift, there’s a lottery draw for crypto enthusiasts who buy at least 10,000 yen worth of SHIB tokens. For every 10,000 yen purchase, the customers get a ticket to enter the prize draw to win up to 100,000,000 SHIB.

As the SHIB developer team is working on SHIB: The Metaverse, the main developer Shytoshi Kusama is setting up Shibarium, the Layer-2 upgrade. On top of that, Mr. Kusama was invited to join the World Economic Forum (WEF), which provides an opportunity for SHIB to shape the future of the internet.

In accordance with the recent news, SHIB’s burn rate is back on track with a healthy 249% increase in the last 24 hours. According to Shibburn, there were 21 million SHIB tokens reduced to ashes in hopes of raising the coin’s market value.

The popularity of memecoins might open doors to quicker crypto adoption in retail.