Even though Coinbase quickly added support for new assets this year, the Coinbase influence remains and assets are on the rise with it.
The most recent Coinbase listing, Dogecoin-inspired joke-based token Shiba Inu (SHIB), is on the rise after finally listing on the exchange three months after a previously announced listing on Coinbase Pro was delayed. The token is trading at $0.00000814, up about 20% at the time of writing.
Invented by Anonymous “Ryoshi”, SHIB is a token running on the Ethereum blockchain. We can say that Tesla CEO Elon Musk came to the fore earlier this year with his shares. Along with other prank-based tokens, it has caused some serious competition in the market.
In fact, Coinbase announced on June 15 that SHIB will be ready to be traded on Coinbase Pro, the company’s app for power users, in a few days. AHowever, listing has been delayed indefinitely due to some technical issues. SHIB finally started trading on Coinbase Pro on September 9. The highly anticipated listing resulted in a 30 percent price increase. We can say that a similar increase is experienced today with the Coinbase listing.
As a result, the Coinbase influence has reaffirmed itself with its official introduction to the main Coinbase app today. The asset is now trading at its highest price since late August. However It’s worth noting that SHIB is currently well behind its all-time high, with recent listings providing a relatively modest price increase.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.