Coinbase Pro announced today that it will begin allowing trades of Shiba Inu (SHIB) as early as Thursday, June 17. It is also listing Keep Network (KEEP) and Chiliz (CHZ) tokens.
Coinbase customers can begin transferring those three tokens to 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 Dogecoin, which itself appropriated a Shiba Inu meme from the 2010s. However, unlike DOGE, it is an ERC20 token, meaning it runs on the Ethereum network.
According to data from Nomics, SHIB is the 17th-largest token by market capitalization, with over $9 billion—more than Stellar, Ethereum Classic, or Dai.
And that market cap appears to be going up. Propelled by the listing, the token has risen in price by 33% in the last day, to reach $0.00000925.
That's far below its all-time high of $0.00003791 (note there's one less zero) on May 10, 2021. Yet it's a welcome boost, given that Ethereum creator Vitalik Buterin nearly sunk the coin after giving 50 trillion SHIB to charity. The meme coin owners had gifted the wunderkind the tokens in hopes that he wouldn't touch them, artificially decreasing the supply of the token while connecting the project to a respected developer.
Now, the project may not need a respected developer. It's got Coinbase, the only publicly listed crypto exchange in the U.S., to provide it some credibility.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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FAQs
Over the past months, Shiba Inu has certainly outperformed Dogecoin, not in price but in trading volume and interest. It's expected that this trend will continue in April. However, both coins are currently in a low state compared to early 2024.
Will shiba inu coin reach $1? ›
Simply put, there is no way Shiba Inu can rise to $1 in its current state. The community is trying to shrink supply by "burning" tokens, which removes them from circulation forever, but efforts have been futile so far.
What network does Coinbase use for SHIB? ›
SHIB, unlike DOGE, is compatible with the Ethereum ecosystem — which has allowed the community to create crypto apps like ShibaSwap, a DEX running on the Ethereum blockchain that allows users to trade and stake tokens without an intermediary.
What will Coinbase do for Dogecoin? ›
Crypto exchange Coinbase believes Dogecoin's (DOGE) “enduring popularity” suggests it has transcended its meme origins to become a staple in the cryptocurrency industry, with the exchange now planning to launch futures trading products for the cryptocurrency.
Who is the rival of DOGE and Shiba? ›
The rivalry between Shiba Budz (BUDZ) and Dogecoin (DOGE) is more than just a battle for market dominance; it's a sign of the meme token evolution, offering diverse opportunities for investors and enthusiasts alike.
Can Shiba be the next DOGE? ›
This suggests there's added momentum behind Shiba Inu's coin, and if the bullishness in crypto continues this year, Shiba Inu could continue to outperform and rise further in value. Rising higher than Dogecoin certainly wouldn't be out of the question.
What is the next crypto to hit $1 dollar? ›
Which crypto will hit the $1 value next? Pikamoon holds the greatest potential as the next crypto to reach one dollar milestone. Supported by a fully doxed team of professionals, PIKA acts as the native token for Pikamoon, a forthcoming P2E game.
How high will Shiba go in 2024? ›
Shiba Inu Price Prediction August 2024
Towards the end of the month, prices could go up to between $0.000075 and $0.000078, with bulls driving the market. If bulls keep pushing, it could even end around $0.000079.
Which crypto will boom in 2024? ›
Top 10 Cryptos in 2024
| Coin | Market Capitalization | Current Price |
|---|
| Tron (TRX) | $10.1 Billion | $0.1152 |
| Polkadot (DOT) | $10.2 Billion | $7.12 |
| Cosmos (ATOM) | $3.4 Billion | $8.64 |
| Maker (MKR) | $2.9 Billion | $3,160 |
6 more rowsApr 15, 2024
Shiba Inu (SHIB) Price Prediction 2030
| Year | Price |
|---|
| 2024 | $ 0.000022 |
| 2025 | $ 0.000023 |
| 2026 | $ 0.000024 |
| 2027 | $ 0.000025 |
1 more rowThe price of 7.3 billion SHIB right now is around $64,682. The rise in value translates to a growth of about 1446%. Telegaon, on the other hand, paints a more bullish picture for Shiba Inu (SHIB) over the next six years. The platform predicts the memecoin to attain a maximum price of $0.000712 by 2030.
Is Coinbase SHIB erc20? ›
SHIB is an ERC-20 token, meaning it runs on the Ethereum blockchain. It has a total supply of 589.59T SHIB, which is also it's current circulating supply.
How much is $500 worth of Dogecoin right now? ›
USD to DOGE
| Amount | Today at 11:37 am |
|---|
| 10 USD | 73.46 DOGE |
| 50 USD | 367.30 DOGE |
| 100 USD | 734.59 DOGE |
| 500 USD | 3,672.96 DOGE |
4 more rowsBefore you can cash out your cryptocurrency, you need to sell it to your Coinbase cash balance. You can then either transfer ("cash out") the funds to your bank, or leave them in your cash balance for future crypto purchases. There's no limit on the amount of crypto you can sell for cash.
Is Shiba better than Dogecoin? ›
Despite its ups and downs, as of Oct. 19, 2023, Dogecoin holds a market capitalization of $8.2 billion, remaining stable in the top list of cryptocurrencies by market cap. Shiba Inu's market dynamics have shown price fluctuations, marked by notable swings, with a market cap of about $3.9 billion as of Oct. 19, 2023.
Is Shiba Inu a better investment than Dogecoin? ›
Profitability analysis shows that Dogecoin remains a more attractive destination for investors, compared to rivals meme coins like Shiba Inu.
Is Shiba Inu coin better than Dogecoin? ›
Dogecoin has a first-mover advantage, a larger community and a significantly higher average price than Shiba Inu coin. However, SHIB's fixed (albeit massive) supply may be more appealing to some investors. As of July 2023, Dogecoin's market cap is $9.61 billion, compared to $4.43 billion for SHIB. Winner: It's a tie.
How does SHIB compare to DOGE? ›
1 SHIB equals 0.00017 DOGE. The current value of 1 Shiba Inu is +1.20% against the exchange rate to DOGE in the last 24 hours. Create a free Kraken account to instantly convert SHIB to DOGE today.
