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- The price of Shiba Inu got a boost when Coinbase announced that it will start trading on Coinbase Pro
- Shiba Inu tokens can be transferred into Coinbase Pro accounts
- Around the time of the Coinbase announcement, the price of the Shiba Inu cryptocurrency jumped over 30%
The price of the shiba inu cryptocurrency rose on Tuesday after Coinbase announced that the meme cryptocurrency would begin trading on Coinbase Pro this week. Following Coinbase’s addition of dogecoin trading, this announcement was made.Over the last few days, the Shiba Inu Coin (SHIB) has been trending in the crypto community. Since Dogecoin’s hype has died down, many new crypto enthusiasts have been busy promoting the Shiba Inu Coin. Shiba Inu’s price has also risen dramatically in a short period of time, from $0.000002 to around $0.00034, a nearly 1700 percent increase.
Shiba Inu Trading is now available on Coinbase Pro
Coinbase announced on Tuesday that the Shiba Inu (SHIB) crypto will begin trading on Coinbase Pro this week, following the listing of the meme cryptocurrency dogecoin (DOGE) earlier this month. Some consider the ERC20 crypto shiba inu to be a viable alternative to dogecoin. Coinbase Pro users can now transfer Shiba Inu tokens into their accounts, according to the Nasdaq-listed company. Residents of New York, however, will not be able to use SHIB. The firm clarified that If liquidity conditions are met, trading will begin on or after Thursday, June 17 at 9 a.m. Pacific Time (PT).
Chiliz (CHZ) and the Keep network are also mentioned in the announcement (KEEP). Aside from dogecoin, the company recently added trading support for polkadot (DOT), gitcoin (GTC), enzyme token (MLN), amp (AMP), and internet computer to Coinbase Pro (ICP).
Why is the value of Shiba Inu Coin increasing?
The cryptocurrency market is extremely volatile and unpredictable, and cryptocurrencies that have no justification for being at the top are frequently pumped up. The SHIB coin and network, according to the Shiba Inu website, is an experiment in decentralised spontaneous community building. SHIB’s creators have big plans for the project, and they’re currently working on an NFT network based on the Shiba Inu Network. The SHIB Token is an Ethereum network-compatible ERC-20 token. The Shiba Inu is known in the community as the Dogecoin Killer. Because of the growing popularity of Dogecoin, this cryptocurrency has quickly gained worldwide attention.
Around the time of the Coinbase announcement, the price of the shiba inu cryptocurrency jumped over 30%. According to Coinbase data, the price of SHIB is $0.0000092, and its market cap is $3.6 billion at the time of writing. Trading of SHIB-USD and SHIB-USDT order books will begin in three phases, post-only, limit-only, and full trading, once sufficient supply of the shiba inu cryptocurrency is established on the Coinbase Pro platform, according to the company.
Dogecoin trading began on Coinbase earlier this month. On June 3, the company announced that their DOGE-BTC, DOGE-EUR, DOGE-GBP, and DOGE-USDT order books are now fully operational. All three types of orders are now available: limit, market, and stop.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
