“Dogecoin Killer” Shiba Inu’s Price Soars as Coinbase Pro Prepares to List SHIB
Coinbase revealed that they are in the process of listing meme-based cryptocurrency Shiba Inu (SHIB) on Coinbase Pro. The traders and investors of the platform can start trading Dogecoin-competitor (also called Dogecoin-killer) this week. Coinbase Pro had listed the leading meme-based crypto Dogecoin (DOGE) earlier this month (listed on June 1, 2021). Some believe that SHIB (an ER20 cryptocurrency) is a viable alternative to DOGE.
The users of Coinbase Pro can now transfer the tokens of Shiba Inu into their accounts. However, the exchange has made it clear that the New York residents can’t use SHIB. Coinbase Pro went on to clarify:
“Trading will begin on or after 9AM Pacific Time (PT) Thursday June 17, if liquidity conditions are met.”
Along with SHIB, Coinbase Pro has also announced to list two more cryptocurrencies including Chiliz (CHZ) and Keep Network (KEEP). This trading platform has added many other crypto tokens recently such as polkadot (DOT), internet computer (ICP), amp (AMP), enzyme token (MLN), and gitcoin (GTC).
Just after the announcement of being listed on Coinbase Pro, the price of Shiba Inu (SHIB) has jumped by over 30% to US$0.0000092 with a market cap of around US$3.6 billion. At press time, SHIB was up by 23.38% and was hovering around US$0.000008764. Its market cap was around US$3.46 billion.
Reports say that the Shiba Inu would be listed on Coinbase Pro in two pairs: SHIB-USD and SHIB-USDT. The order books of SHIB-USD and SHIB-USDT will start in 3 phases:
- Full Trading
According to the company, full trading of Shiba Inu will start on Coinbase Pro once an adequate supply of SHIB is established on the platform.