Shiba Inu Army believes that with the entry of tech giant Sony into the cryptocurrency trading market and the re-launch of a Japanese platform supporting meme coins, SHIB is also in a favorable position.
It is worth noting that, as reported earlier by The Crypto Basic, the renowned PlayStation manufacturer Sony has taken initial steps to re-launch the Japanese exchange Whalefin, including renaming its parent company Amber Japan to S.BLOX.
In addition, these efforts include redesigning the existing Whalefin platform to be more user-centric and adding trading functionalities, ultimately leading to the launch of a new mobile application.
Shiba Inu also in the crosshairs
It is worth noting that Shiba Inu is one of the few cryptocurrencies currently trading on Whalefin. Renowned community figure Lola brought attention to this development in a post on X. Lola emphasized the position of Shiba Inu in light of Sony’s recent move into the cryptocurrency trading market.
In a media report, she called attention to this connection, stating that Sony is launching a Bitcoin exchange, and Shiba Inu holds a significant position among the less than 60 cryptocurrencies listed on the Japanese exchange.
At the same time, Lola remains unfazed by the narrative around Bitcoin. She stated that this is not a major issue because alternative coins like Shiba Inu typically follow the movement of Bitcoin during a bull market.
However, she pointed out that the purpose is to make the community aware of Shiba Inu’s position in light of Sony’s entry into the cryptocurrency market and how stories are deliberately crafted to overlook SHIB.
Look how media narratives change the outcome? See below example. They had to write it as if Sony is just doing BTC exchange. I agree, because if BTC goes up, all alts will follow later, but I give you a scenario of what media can do to your brain, haha… but #SHIBARMY… – Lola (@CryptoLolla) July 2, 2024
The community has acknowledged Lola’s findings, recognizing its positive impact on SHIB.
Sony’s cryptocurrency exchange
It is worth noting that Sony acquired Amber Japan last year, which was previously a subsidiary before the recent announcement of the brand reshaping. Amber Japan was formerly DeCurret, a Japanese cryptocurrency trading platform that was acquired and renamed by Amber Group two years ago.
With Sony’s acquisition, the platform is undergoing a second brand reshaping. However, the latest notice did not disclose the official date for Sony’s plans to re-launch a cryptocurrency exchange for the Japanese people.