The price of Shiba Inu (SHIB) surged on Tuesday following Coinbase's announcement that the meme cryptocurrency will be listed on Coinbase Pro this week. This move comes shortly after Dogecoin's (DOGE) listing earlier this month, positioning SHIB as a potential rival in the meme coin space.
Coinbase Pro Adds Shiba Inu Trading
Coinbase revealed that Shiba Inu (SHIB) will begin trading on Coinbase Pro this week, marking a rapid adoption compared to Dogecoin's delayed listing. SHIB, an ERC20 token built on the Ethereum network, is often dubbed the "Dogecoin killer" due to its similar meme-inspired origins but distinct technical foundation.
Key details from Coinbase's announcement:
- Transfer Availability: SHIB deposits are now open for Coinbase Pro users.
- Trading Schedule: Trading begins on or after 9 AM PT on June 17, pending liquidity conditions.
- Exclusions: New York residents cannot trade SHIB due to regulatory restrictions.
👉 Discover how Coinbase Pro’s listing impacts SHIB’s market dynamics
The listing also includes Chiliz (CHZ) and Keep Network (KEEP). This follows Coinbase Pro’s recent additions of Polkadot (DOT), Gitcoin (GTC), and Internet Computer (ICP).
Why Shiba Inu Stands Out
- ERC20 Token: Unlike Dogecoin, SHIB operates on Ethereum, enabling smart contract functionality.
- Market Cap: SHIB ranks #17 globally with over $9 billion—surpassing Stellar and Ethereum Classic.
SHIB Price Reacts to Coinbase News
The announcement triggered a 30% price surge, with SHIB reaching $0.0000092** at press time. Market capitalization soared to **$3.6 billion, per Coinbase data.
Trading phases on Coinbase Pro:
- Post-Only: Orders are matched but not executed.
- Limit-Only: Orders can be placed but not filled.
- Full Trading: All order types are active.
The Buterin Factor
SHIB’s founder, "Ryoshi," allocated half the token supply to Ethereum's Vitalik Buterin. In May 2021, Buterin donated $1 billion worth of SHIB to an Indian COVID-19 relief fund, causing a temporary price crash.
👉 Explore the latest trends in meme cryptocurrencies
FAQs About Shiba Inu and Coinbase Pro
1. Why is Shiba Inu called the "Dogecoin killer"?
SHIB shares Dogecoin’s meme origins but offers Ethereum-based utility, attracting investors seeking alternatives.
2. Can New York residents trade SHIB on Coinbase Pro?
No, due to state-specific regulatory restrictions.
3. What triggered SHIB’s recent price surge?
Coinbase Pro’s listing announcement boosted investor confidence, driving demand.
4. How does SHIB differ from Dogecoin?
SHIB is an ERC20 token with smart contract capabilities, while DOGE operates on its own blockchain.
5. What are the risks of investing in SHIB?
Meme coins are highly volatile; prices can swing dramatically based on social sentiment.
Conclusion
Coinbase Pro’s SHIB listing underscores the growing legitimacy of meme cryptocurrencies. With its Ethereum backbone and aggressive market positioning, SHIB continues to challenge Dogecoin’s dominance. Investors should monitor liquidity conditions and trading phases to capitalize on this momentum.
For real-time updates, track SHIB’s performance on Coinbase Pro.