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Coinbase Announces Support for Shiba Inu Trading Through Its Main Platform

By Angel Di Matteo @shadowargel

The operations of purchase, sale, storage and exchange of Shiba Inu are available both in Coinbase as in your applications for devices with operating system Android and iOS.


Continuing with the launch through Coinbase Pro, The team of Coinbase announced today that it already has support on its main platform for commercial operations with Shiba Inu (SHIB), the token inspired by Dogecoin which at the time generated a stir among enthusiasts and investors.

Shiba Inu now available through Coinbase

This was announced by the team of Coinbase in a statement published on their official page, where they report that the token SHIB It is available for purchase, sale, storage and exchange operations through its main platform, as well as in the exchange applications for devices with operating system Android and iOS.

Originally Coinbase had plans to officially launch Shiba Inu through its different platforms in mid-June. However, due to a series of technical inconveniences, the launch was postponed until the beginning of September, at which time commercial operations were formally opened through Coinbase Pro, the service of the company where the purchase, sale and exchange of digital currencies is carried out through the use of market orders.

At that time the team indicated that the launch of Shiba Inu through Coinbase and its associated products would be done later. Let us bear in mind that here the exchange operations between one token or another are carried out directly, without a system of commercial orders, at the average dictated by the market for that moment.

Regarding the incorporation of the digital currency, the team of Coinbase wrote:

“One of the most common requests we hear from customers is to be able to buy and sell more digital currencies on Coinbase. We announced a process for listing assets, designed in part to accelerate the onboarding of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see SHIB), as well as a new section of the Coinbase website to answer common questions about said cryptocurrency. “

More commercial spaces for SHIB

The incorporation of SHIB on Coinbase occurs a few days after Binance, the international exchange with the highest volume of operations, reported that said token was already available for commercial operations in the United States through Binance.US.

Another platform that also took the step and listed Shiba Inu at the end of July it was the trading platform eToro, which indicated that the measure came about due to the great demand it had on the part of the group of self-styled users Shiba Inu Army, who made a lot of pressure for the token to be incorporated into the respective commercial listings.

Everything ready to take off?

As digital currency enthusiasts celebrate the move by Coinbase, analysts and enthusiasts wonder if the incorporation of Shiba Inu In the aforementioned exchanges, this is what the token needs for its price to reach new all-time highs.

Remember that the token SHIB It registered its highest values ​​during the first days of last May, when it managed to trade at maximums equivalent to USD $ 0.00003503 per unit. As a risky measure, given that the digital currency operates on Ethereum, the team responsible for the project proceeded to send half of the total supply to the public address employed by the co-founder and lead developer of the network Blockchain, Vitalik Buterin, who instead of keeping them donated them to finance the fight against COVID-19 in India. Despite the fact that this act was carried out for altruistic purposes, the introduction of these tokens in the market led to a resounding fall for the digital currency.

Since then, despite the team behind Shiba Inu finally launched the decentralized exchange contemplated in the project’s roadmap, the value of the token has not yet returned to the levels prior to Buterin’s actions. And despite the fact that the listing by the platforms has had a slight positive effect on its price, there is still the question of whether this will be enough to achieve return to SHIB his old glory.

At the time of publication, each unit of the SHIB token is trading at about USD $ 0.000007973, and the coin registers an increase of 17.9% in the last 24 hours.

Recommended reading

Source: Coinbase Blog

Version by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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