- Shiba Inu is having a bullish momentum in the cryptocurrency market
- With pet Floki Elon Musk has sparked the recent bullish run of SHIB tokens
- The latest listing of SHIB on the popular platform of Coinbase has continued its bullish cycle
- Coinbase had disclosed that it would also add Shiba Inu token’s support to its platform
Shiba Inu has performed since last year. Since the beginning of this year, but observed that the investors have seen more than 200% of profits every month. However, in recent days it is observed that SHIB is gaining more attraction. Elon Musk, the CEO of Tesla, is also known as the Dogefather, has recently brought a new pet Shiba Inu. Following the picture of the puppy in his tweet, the price of SHIB surged by more than 40%. Moreover, Coinbase, one of the major crypto assets exchanges, has listed SHIB on its platform. But investors are still concerned whether SHIB will kill the Dogecoin frenzy.
Coinbase listing crept up Shiba Inu price
Shiba Inu fans believe that it has the potential to kill Dogecoin. Following the specification of the asset, investors deemed that SHIB is a Dogecoin-knockoff token. Notably, on Friday, the Dogecoin-killer token was listed on the platform of Coinbase. Before the listing, the token was down by approximately 80% from its all-time high. However, as the trader assessed its addition on the exchange platform, the price skyrocketed to $0.00000950 with a more than 16% jump. The recent surge of SHIB is observed for the first time since late June.
Gains began emerging with Elon Musk’s tweet
The latest uptrend came as a part of an overall bullish trend that began on Thursday. In contrast, last Thursday the price of SHIB rallied by more than 26%. Whereas, the rally ended pushing the price up by more than 40% in just 2 days. This bullish cycle has emerged with Elon Musk’s new pet’s arrival called ‘Floki’.
The announcement iterated the Dogefather’s continued influence on Shiba Inu-themed tokens. Such tokens also include Dogecoin (DOGE), BabyDoge, and Floki Inu.
Counbase continued with Musk’s spark
Where Shiba Inu was already facing bullish momentum in the crypto market, the rally had one more booster behind it. SHIB rates were already steering loftier after the token’s addition on such popular US-based crypto asset exchange, Coinbase Pro earlier this month.
On Thursday, the SHIB/USDT continued its rally after Coinbase had disclosed that it would also add Shiba Inu token’s support to its platform. The exchange announced that Coinbase customers can now trade, send, receive, or store SHIB tokens in most supported regions. Additionally, trading of these assets is now also supported on Coinbase Pro.