Shiba Inu Listed by Major Australian Exchange, Michael Saylor Makes Big Bitcoin Statement

Contents Shiba Inu listed by major Australian exchange Michael Saylor makes big Bitcoin statement as market uncertainty looms Binance exec escapes detention in Nigeria, more trouble for Binance? U.Today presents the top three new stories over the past day. Shiba Inu listed by major Australian exchange Yesterday, March 25, Bitcoin.com.au, an Australian crypto exchange, announced on its official X handle that it has just added support for the Shiba Inu (SHIB) token. Founded in 2014, the exchange is one of the oldest in Australia; nowadays, it is serving over 300,000 customers across the country. Among cryptocurrencies offered by the exchange are Bitcoin (BTC), Aave (AAVE), Basic Attention Token (BAT), Bitcoin Cash (BCH), Compound (COMP), Dai (DAI) and Dogecoin (DOGE). Bitcoin.com.au is not the first Australian crypto exchange to add SHIB. As a reminder, in 2021, CoinJar, the country's longest-running digital asset exchange, listed the meme coin. At the moment of writing, SHIB is changing hands at $0.00003033, up by 8.46% over the past 24 hours, per ConMarketCap. Michael Saylor makes big Bitcoin statement as market uncertainty looms In a recent X post, Michael Saylor, cofounder of MicroStrategy, made a statement that resonated with the crypto community: "Bitcoin is the signal." The statement comes amid uncertainty on the crypto market after Bitcoin reached an all-time high (ATH) of $73,750 and investors are unsure about what happens next. As reported by CoinShares, digital asset investment products saw record weekly outflows totalling $942 million, the first outflow following a record seven-week run of inflows totalling $12.3 billion. Bitcoin accounted for 96% of the flows, with $904 million in outflows. Bitcoin is currently trading down from its ATH reached on March 14; at the moment, BTC is valued at $70,121, up 0.98% over the past 24 hours. As for Saylor's comment, it is a metaphorical remark meaning that, amid market noise, including regulatory chatter, price volatility and general uncertainty, Bitcoin stands out as a clear signal. Another possible meaning is that Bitcoin remains a strong indicator of market direction.

Shiba Inu On Exchanges Drops To 2-Year Low

Data from crypto analytics firm Glassnode shows that the amount of SHIB held on exchanges has dropped to its lowest level since March 2022. This underscores the bullish sentiment among SHIB investors, as the decline in the meme coin’s supply invariably means that these investors are choosing to hold for the long term rather than offloading their holdings anytime soon. 

Data from the on-chain analytics platform Santiment also shows the steady decline in the SHIB supply on exchanges, which currently stands at just over 75 trillion (7% of the token’s circulating supply). At the same time, the supply outside of exchanges has continued to climb, currently standing at over 925 trillion SHIB. 
Another metric that signals bullish sentiment for the meme coin is the daily exchange inflow recorded. Data from Santiment shows that this figure has also significantly reduced. For context, over 3 trillion SHIB was moved to exchange wallets on March 1, and on March 22, only about 376 million SHIB was transferred to exchanges. 
These figures suggest a drop in the short-term sell pressure as investors might be easing off on taking profits from the meme coin. This creates room for SHIB to enjoy another parabolic price surge since there is the likelihood that the short-term holders have already exited their positions. 

Shiba Inu To Make A Statement In This Bull Run

This bullish stance on SHIB isn’t surprising, as the meme coin is projected to be one of the crypto tokens that will stand out in this bull run. Shiba Inu’s lead developer, Shytoshi Kusama, also boldly claimed that SHIB is well-positioned as the leading meme coin in this market cycle. 


Investors’ faith in SHIB is further strengthened by the fact that meme coins look to be one of the leading narratives of this cycle. As such, some of the spotlight will shine on SHIB as the second-largest meme coin by market cap, which could positively reflect its price. 
Crypto analysts have also weighed in on SHIB’s future trajectory and predicted that the crypto token will likely surpass its all-time high (ATH) of $0.00008845 in this bull market. Although ambitious, crypto analyst Ali Martinez predicted that SHIB could rise to as high as $0.011 at some point. 

SHIB price recovers above $0.000031 | Source: SHIBUSDT on Tradingview.com

Binance exec escapes detention in Nigeria, more trouble for Binance?


As became known yesterday, Nadeem Anjarwalla, Binance's Regional Manager for Africa, has escaped detention in the Nigerian capital, Abuja. Sahara Reporters, citing a source privy to the incident, reported that Anjarwalla fled when he was taken to the nearby mosque for prayers because of the ongoing Ramadan fast. While the details of the escape remain unknown, the insiders say that Anjarwalla has likely left the country on a Middle Eastern airliner. The exec's British passport is said to be in the hands of Nigerian authorities, but since Anjarwalla has two citizenships, British and Kenyan, he could use his Kenyan passport to get on the international flight. The escape could make the already tense relationship between Nigerian authorities and Binance even more complicated. Nigeria, which is considered as Africa's biggest market for digital currencies, continues to be a major hub for Binance to sustain both its continental and global dominance.