The memecoin, Shiba Inu coin (SHIB) jumps high with a total of $2 billion traded after Coinbase listing. This happened after the memcoin made a historic coinbase listing.
Shibe Inu coin Historic Listing
Supporters of Shiba Inu coin (SHIB) had a pleasant Friday morning when Coinbase, one of the world’s largest and most regulated crypto exchanges, listed the memecoin.
“SHIB is now live on Coinbase and in the Coinbase iOS and Android apps. Coinbase customers can log in now to buy, sell, convert, send, receive or store SHIB,” – Coinbase twitter (September 16, 2021)
Furthermore, Coinbase is the one of the biggest crypto exchange and its will regulated. Meanwhile, The platform went public this year, bringing it under more regulations and liasions. For instance, especially now that public money is involved.
However, Coinbase is making moves to appeal to a wider platform of investors. Additionally, It raised $2 billion in a debt inorder expand its product offering.
“One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. We announced a process for listing assets, designed in part to accelerate the addition of more cryptocurrencies,” Coinbase releases statement.
“We are also investing in new tools to help people understand and explore cryptocurrencies,” it added.
These projects earned the platform over $1.2 billion in revenue in Q1 2021, and its out for more.
The Memecoin Hype And Spike
The memecoin got inspiration by the breed of cutesy Shiba Inu dogs. Shiba Inu coin was launched in August 2020 by a group of anonymous developers looking to copy the success of Dogecoin. Also, The token is happy with its new coinbase listing
Well we are happy to touch “base” @coinbase 👀 *Wink* — ShibSeptember 16, 2021
The memecoin has a massive hype around it making a historic 15,067,601% rise from its November Decline.
So, This means every $1,000 invested in the token worths $150 million as of today.
Shiba Inu coin has over $412 million worth of the token exchange hands on Coinbase and over $2 billion traded across all crypto exchanges combined.
