On Monday, Binance announced that Shiba Inu (SHIB) is available for trading for the SHIB/BUSD (Binance USD) and SHIB/USDT (Tether) trading pairs. Shiba Inu (SHIB) is a meme coin created in a similar spirit as Dogecoin (DOGE). According to its website, it plans to outperform DOGE while enabling traders to hold billions or even trillions of the meme crypto asset. According to CoinGecko, Shiba Inu (SHIB) soared from a low of $0.00001405 on May 10th to as high as $0.00003755 on May 11th, marking an increase of 167% after the Binance listing. The Dogecoin competitor has retraced since, and it is now trading at $0.000027. Binance CEO Changpeng Zhao says that the exchange decided to add the new meme cryptocurrency because of high demand from traders.