The Shiba Inu Coin - often termed the 'Dogecoin killer' - has become one of the most well-known memecoins around, but is it on Coinbase?
Here's what you need to know about Shiba Inu Coin and Coinbase.
Can you buy Shiba Inu Coin on Coinbase?
As of 17 June 2021, Shiba Inu Coin will be available to buy and trade on Coinbase as part of Coinbase Pro.
Coinbase announced the decision in a blog post on June 15, stating:
Starting immediately, we will begin accepting inbound transfers of CHZ, KEEP and SHIB to Coinbase Pro. Trading will begin on or after 9am Pacific Time (PT) Thursday June 17, if liquidity conditions are met.
Since the announcement, SHIB's price has increased by over 25%.
Previously, SHIB was unavailable for trading on Coinbase. The exchange was not averse to adding new cryptocurrencies or 'memecoins' before Shiba Inu, however. In early June, Coinbase announced it would support Dogecoin for its Coinbase Pro members. New coins can gain approval from Coinbase so long as they meet its listing standards.
A recent petition launched in May to get Shiba Inu listed as a tradeable asset on Coinbase currently has over 39,000 signatures. The petition stated:
The rising demand of Shiba Inu Cryptocurrency brings many users new to the cryptocurrency space. Listing Shiba Inu on Coinbase would be a massive opportunity for many newcomers to get deeper into the crypto community and the numerous rewards that come with buying crypto.
What cryptocurrency exchanges support Shiba Inu Coin?
Alongside Coinbase, a number of other cryptocurrency exchanges have listed Shiba Inu for trade.
The likes of Binance, eToro, Crypto.com, and Huobi support Shiba Inu, while Kraken does not have the token listed.
What is Shiba Inu Coin?
First listed in August 2020, Shiba Inu (or SHIB) is a cryptocurrency token built on the Ethereum blockchain. Its coin features a Shiba Inu dog - the same breed on which Dogecoin is based.
As of June 2021, 394,796,000,000,000 SHIB are in circulation - which is more coins than any other cryptocurrency listed on CoinMarketCap.
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