Dogecoin and Shiba Inu Supported by a Prominent Indian Crypto Exchange

8:01 am, Tue, 14 December 21

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Dogecoin and Shiba Inu are the two most prominent canine-themed meme coins out there. According to reports, the two largest meme-inspired coins have been listed on one of the top crypto exchanges in India. This means the Indian citizens can now trade the two meme crypto assets on the exchange.

As per recent reports, the Indian authorities have proposed a crypto ban bill, even though there is a huge crypto customer base in the country. While the proposed bill is yet to be discussed and approved, the Indian crypto exchange has offered the opportunity for people to trade any of the two popular meme coins, DOGE and SHIB.

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Which Exchange Offers Support to DOGE and SHIB?

As per reports, the two meme-inspired digital assets have been supported by Unocoin, one of the major cryptocurrency exchanges in the country. The exchange made the announcement yesterday, even though the authorities have proposed a crypto ban bill.

Unocoin was established in 2013. It is a major crypto platform and is the leading BTC-INR trading platform in India. For several reasons, Unocoin is also being called the “Indian Coinbase”.

However, offering support for the two largest meme cryptocurrencies is not the only surprising initiative Unocoin has taken so far. The exchange also offered support for Unified Payment Interface (UPI) transactions in October. Thanks to the availability of this option, users can now deposit fiat to the exchange a lot faster than before.

As per reports, the users of the Unocoin exchange can now trade DOGE against the Indian rupee. While it is a bit simpler to trade Dogecoin, the exchange does not have a fiat pair for SHIB.

However, users of the exchange can trade Shiba Inu against Tether, which is the topmost USD-pegged stablecoin.

Shiba Inu has been doing quite well in the crypto market in the past months and has even had a good run with the crypto exchanges in India. Unocoin is not the only crypto exchange that has offered support for the second-largest meme digital currency.

Shiba Inu was also reportedly listed by ZebPay in early October, which is one of the oldest cryptocurrency exchanges in the country.

What Should Crypto Investors and Traders Know?

The support offered to the meme coins amid the possibility of the crypto ban bill being imposed can somewhat signify the prominence of both DOGE and SHIB.

At the moment, there is a lot of uncertainty in India regarding the regulation or prohibition of any kind of crypto-related operation. Despite the fact, Unocoin has taken a huge step, which has made people hopeful for regulation.

It is also important to note that the current crypto market situation is not what many had anticipated as the prices of digital assets have been plunging.

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