The popular memecoin Shiba Inu has landed on major cryptocurrency exchange Gemini, significantly increasing the liquidity of the coin’s ecosystem. In a tweet, Gemini CEO Cameron Winklevoss confirmed that Shiba Inu had been listed on the Gemini cryptocurrency exchange.
In a Friday post, Gemini wrote that Shiba Inu is a “utility token compliant with the Ethereum network,” highlighting the coin’s recent push to move away from being just a meme coin. The exchange wrote that while SHIB “began as an Ethereum-based alternative to Dogecoin (CRYPTO: DOGE),” it has since “launched a decentralized exchange called Shibaswap with two additional tokens, LEASH and BONE.”
Shiba Inu has proved to be a life changing memecoin that has generated huge returns for investors. However, it seems like the good days for Shiba Inu are on a pause recently after Dogecoin reclaimed its 10th position knocking Shiba back to 11th position.
The announcement from Gemini follows a recent report that meme coin Floki Inu (CRYPTO: FLOKI) made its way onto four different cryptocurrency exchanges, giving a significant boost to its liquidity and exposing over five million registered users to the coin.