Users on the Coinbase platform can now trade Shiba Inu, according to an announcement by the leading American crypto exchange. Shiba Inu, which is a direct competitor to Dogecoin, also listed on Binance U.S. earlier in the week.
The token was initially supposed to list on Coinbase Pro on June 17th but ended up making its debut on September 9th. Shiba Inu incredibly surged 30% the moment it was listed on Coinbase Pro as a result of prior anticipation.
Shiba Inu has benefited from the Dogecoin fest due to the similarities both digital currencies share. Prominent among such similarities are their canine motifs and relative affordability. Back in May, some holders of Shiba Inu became generously rich when prices spiked during the Dogecoin meme.
Shiba Inu has a near-inexhaustible maximum supply of one quintillion tokens. Co-founder of Ethereum, Vitalik Buterin, received half of the total supply of the crypto from developers. However, Buterin went on to gift 50 trillion SHIB tokens to charity and burned 410 trillion more shortly thereafter in May.
At the moment, Shiba Inu is currently trading 81% down from its highest-ever price listing.
Elon Musk, a known devotee of Dogecoin, recently purchased Shiba Inu and named it ‘Floki Inu’ – after the actual coin. Within minutes of Musk’s naming announcement, the price of the original Floki Inu meme coin surged over 100%.
Image Credits: Pixabay
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