Coinbase Pro Will Allow Shiba Inu SHIB Token Trades

Coinbase Pro will allow Shiba Inu SHIB token trades on its platform as per the announcement today where it said that the trading of the SHIB token will start on June 17^th while also listing Keep Network and Chilliz tokens so let’s find out more in our latest Coinbase news today.

Coinbase Pro will allow Shiba Inu SHIB token trades so now the coinbase customers can start transferring the three tokens on the platform. According to the blog post, “Once sufficient supply of CHZ, KEEP and SHIB is established on the platform, trading on our CHZ-USD, CHZ-EUR, CHZ-GBP, CHZ-USDT, KEEP-USD, SHIB-USD, and SHIB-USDT order books will launch in three phases, post-only, limit-only, and full trading.”

Shiba Inu is akin to meme coin DOGE which also became quite popular for being inspired by the Shiba Inu dog meme from the 2010s. however, unlike DOGE it is an ERC20 token whch means that it runs on the Ethereum network. According to the data from Nomics, SHIB is the 17^th biggest token by market cap with over $9 billion which is more than Ethereum Classic, DAI, or Stellar. The market cap seems to be going up and propelled by the listing, the token increased in price by 33% in the past day. This is way below the ATH of $0.00003791 of last year.

This is surely a huge boost given that the Ethereum creator Vitalik Buterin nearly crashed the coin after giving 50 trillion SHIB To charity and the meme coin owners had gifted the tokens hoping that he will not touch them and artificially decrease the supply of the token while connecting the project to a respected developer. Buterin noted that holding the coins entrusted to him wasn’t an option for security reasons and added that he wanted to avoid the speculation that could arise from him making transactions using the DOG token in the future. He also asked people not to donate more tokens to him as he didn’t want to be a “locus of power of that kind.” The SHIB token prices went ballistic when it got listed on Binance a week ago, amid the surging popularity of DOGE and other dog tokens. The surge of the meme token trading was blamed for the spike in ETH network fees which hit an ATH of $70 on May 12.

The project may not need a new developer because not it is listed on Coinbase which is the only publicly listed exchange in the US to provide some credibility.

Source: https://www.dcforecasts.com/coinbase-news/coinbase-pro-will-allow-shiba-inu-shib-token-trades/