Shiba Inu on Coinbase Pro and the price flies
Shiba Inu on Coinbase Pro and the price flies

Shiba Inu on Coinbase Pro and the price flies

By Marco Cavicchioli - 16 Jun 2021

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It’s official: Shiba Inu has been listed on Coinbase Pro. 

This was reported by the exchange itself, saying that SHIB deposits have been started since yesterday, while trading will start on Thursday 17 June after 9:00 AM Pacific Time (PT), if liquidity conditions are met.

Coinbase’s goal is to provide its customers, and in particular those on the Pro platform, with the crypto assets they want to trade. As demand for the Shiba Inu token has been high, the exchange has decided to list it. 

Exchanges will be available on the SHIB-USD and SHIB-USDT pairs, and trading will be launched in Coinbase’s classic three phases, namely limit order loading only in the first phase, limit order execution in the second, and full trading in the third. 

In addition, if at any time one of the new order books fails to meet the platform’s requirements for a healthy and orderly market, it could be suspended. 

All updates will be posted on Coinbase Pro‘s official Twitter profile. 

In the announcement post on the exchange’s official blog, Shiba Inu (SHIB) is defined as a token that aspires to be an Ethereum-based alternative to Dogecoin (DOGE). Unlike Bitcoin, which is designed to be scarce, SHIB is instead intentionally abundant. The Shiba Inu Token ecosystem supports projects such as an NFT art incubator and the development of a decentralized exchange called ShibaSwap.

The price of Shiba Inu after the listing on Coinbase Pro

As a result of this announcement, the price of SHIB yesterday rose in less than three hours from around 0.007 thousandths of a dollar to around 0.009 thousandths, and right now it is 24% higher than yesterday

In fact it is still 50% lower than it was a month ago, and 76% lower than the all-time high of 0.038 thousandths of a dollar touched on 10 May. 

However, given that the August 2020 crypto market placement price was 0.000000972 thousandths of a dollar, the current price is still hugely higher. For example, the closing price in 2020 was 0.000000077 thousandths of a dollar, which is a hundred thousand times lower than the current price. 

In fact, the price of SHIB only exploded in April, i.e. two months ago, and right now it may even be inflated by a large speculative bubble, given that since April 16, for example, it has grown by 5,400% in less than a month.

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded and the Facebook group" Bitcoin Italia (open and without scam) ".

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