The price of Shiba Inu coin surged on Tuesday after Coinbase announced that the meme crypto will start trading on Coinbase Pro as early as this week. This announcement follows Coinbase adding trading for dogecoin.
Following the listing of the meme cryptocurrency dogecoin (DOGE) early this month, Coinbase announced on Tuesday that the Shiba Inu (SHIB) crypto will start trading on Coinbase Pro this week.
The ERC20 crypto Shiba Inu is seen by some as an alternative token to dogecoin.
The Nasdaq-listed company says that starting immediately, Coinbase Pro users can transfer Shiba Inu tokens into their accounts. However, SHIB will not be available to New York residents. The company clarified.
Trading will begin on or after 9 AM Pacific Time (PT) Thursday, June 17, if liquidity conditions are met.
Once sufficient supply of the Shiba Inu cryptocurrency is established on the Coinbase Pro platform, trading of SHIB-USD and SHIB-USDT order books will launch in three phases, post-only, limit-only, and full trading, the company detailed.
The announcement also covers chiliz (CHZ) and the keep network (KEEP). Besides dogecoin, the company recently added trading support for a number of tokens on Coinbase Pro, including polkadot (DOT), gitcoin (GTC), enzyme token (MLN), amp (AMP), and internet computer (ICP).
The price of the Shiba Inu coin jumped over 30 percent around the time of the Coinbase announcement. At the time of writing, the price of SHIB is $0.0000089 and its market cap is $3.5 billion according to data from Coinmarketcap.
The listing of Shiba Inu coin and others can be attributed to the series of changes in the approach of the exchange company as announced a few weeks ago when Dogecoin was listed.
The revised policy came a month and a half after the crypto exchange went public on Nasdaq under the ticker COIN. Coinbase’s stock is now significantly below its initial trading price.