tl;dr
In recent cryptocurrency developments, Shiba Inu, an Ethereum-based altcoin, has gained attention in Dubai as it was promoted by a leading crypto exchange in the country. This promotion led to speculation that Shiba Inu is popular among investors in Dubai. Additionally, Shiba Inu has experienced sig...
In recent cryptocurrency developments, Shiba Inu, an Ethereum-based altcoin, has gained attention in Dubai as it was promoted by a leading crypto exchange in the country. This promotion led to speculation that Shiba Inu is popular among investors in Dubai. Additionally, Shiba Inu has experienced significant withdrawals from crypto exchanges, which could indicate possible accumulation by holders and be positive for the crypto asset in the long term.
In a flurry of cryptocurrency-related developments, Ethereum-based altcoin Shiba Inu has taken center stage in Dubai, as the meme coin was spotted being promoted by a top crypto exchange in the country. Coinswapz, one of the leading cryptocurrency exchanges in Dubai, has taken a stand with Shiba Inu (SHIB), promoting the crypto asset in the country. The Shiba Inu community spotted the Dubai-based exchange advertising SHIB at the entrance of its office, which is located in the well-known Moon Tower complex in Marina Dubai.
Recent data has revealed that Shiba Inu has experienced a significant number of withdrawals from crypto exchanges, potentially indicating accumulation by holders. A downward trending SHIB balance on exchanges could be positive for the crypto asset in the long term. Crypto analyst Ali highlighted the development on X, noting massive withdrawals of SHIB from exchanges since November. This movement may prove to be positive for the crypto asset in the long term, supporting the idea that Shiba Inu is gaining traction among investors and hinting at a possibly prosperous future for the cryptocurrency.
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.