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The meme-inspired cryptocurrency Shiba Inu ($SHIB) is currently leading the “trending” charts on popular crypto aggregator websites after it was listed on one of South Korea’s largest crypto trading platforms by volume.
In a recently published announcement, Seoul-based exchange Upbit, which has been registering more trading volumes than any other exchange in the country after Binance, revealed the listing of a $SHIB pair trading against the South Korean Won (KRW).
When the writing is done, $SHIB is the #1 trend asset on CoinMarketCap due to enrollment, and is followed by the jewel of Bitcoin cryptocurrency ($BTC), Fetch.ai ($FET), PancakeSwap (PUDDING $), and the Solana Intelligent Contract Platform ($SOL).
Cryptocurrency inspired by memes jumped in the last few weeks before the planned release of shibarium, its layer 2 scaling solution. In the last 30 days, $SHIB has increased by more than 40 percent, while $BTC has increased by 26 percent.
According to CryptoGlobe, the market capitalization of Shiba Inu has increased by almost $2 billion in the past 30 days to exceed $6.4 billion. The largest whales of the Ethereum ($ETH) network have accumulated around $85 million of $SHIB ahead of the layer-2 scaling solution’s launch, and at a time in which the meme-inspired cryptocurrency partnered with the North American luxury brand Bugatti Group involved the minting of non-fungible tokens (NFTs) in a “special event” in which the Bugatti Group hosted a “mint party and space” dedicated to Shiboshis.
According to an account associated with the meme-inspired cryptocurrency, the special mint collection “sold out in the first 4 minutes” of the event as demand for the tokens far exceeded supply.
Shiboshis are non-transferable tokens exclusive to the shiba inu ecosystem which were launched in October 2022. The partnership has brought "physical objects and collectors' items" to the holders of shiboshi.
A total of 299 limited releases and a “very exclusive 1st edition release” were minted at the event for 0.14 ETH each. 95% of mints received a "limited edition shoulder bag" from the bugatti group, whereas 5% received limited edition hand luggage from the group. They were awarded 15 Minters NFT while allowing them to put their own Shiboshi design on the bag.
As far as Shibarium is concerned, the Layer-2 solution aims to improve the Shiba Inu ecosystem by offering faster transactions at less cost, among other important improvements.
