Shiba Inu is now listed on Coinbase, which is thus added to Binance e FTX. The announcement came on Tuesday and allowed the token to give life to yet another rally, which allowed it to gain further share. As a result of the new leap forward, what has been called the Doge Killer is now at 32nd place in the CoinMarketCap ranking, relating to market capitalization. A position which could however act as a springboard for a further climb, favored precisely by the announcement of Coinbase.
What is Shiba Inu
Shiba Inu he too was born as one joke. The token, in fact, was born on the idea of fielding a digital asset capable of counteracting Dogecoin, the meme coin born in turn as a joke. That is to say a mockery of a sector like that of cryptocurrencies that according to Billy Marcus e Jackson palmer he took himself too seriously.
Joke after joke, however, Doge has become a serious matter, a real phenomenon of costume. Which owes its growing fortunes to continuous pump and dump by Elon Musk. The founder of Tesla, in fact, has been a prominent fan of the project from the beginning. And with his tweets, he allowed him to grow up to settle in the top positions of the ranking relating to cryptocurrencies. Pushing for its part to imitations that are now on the agenda. Among which Shiba Inu has become the one singled out as the potential Doge Killer, that is, able to beat the model.
What is its resounding growth due to
Until recently, the existence of Shiba Inu was not even suspected. On the day of 14 March, however, Elon Musk launched a tweet, in which he claimed to want to buy a Shiba Inu dog, the same one that is now identified with Dogecoin.
A message which, however, was interpreted as a support for the token which, in fact, is called Shiba Inu. And started one sensational growth of SHIBA, equal to 400% in the space of a few hours. If in the following days the misunderstanding was clarified, the cryptocurrency has however enjoyed a real promotional campaign at no cost. The media circuit, in fact, has begun to talk about the story and many investors have smelled the deal. Starting to buy the token and allowing it to make its foundations more and more solid. As the ranking of CoinMarketCap.
Shiba Inu: what could happen now
The announcement released by Coinbase, in which it is also specified that the token cannot be exchanged by New York users, seems destined to be the basis for a further expansion of Shiba Inu. Whenever an important exchange adds a crypto to its trading, there is in fact a notable increase in its price. According to experts, this will also be the case on this occasion, as demonstrated by the boom recorded in the hours following the announcement.
If at this time SHIBA is experiencing a physiological decline, resulting from the desire to achieve by many traders, over the last seven days it has achieved a remarkable + 15%. And it could soon resume its run if other exchange platforms are added, as is easily predictable, to Coinbase. Starting a new rally that could start to frighten even Dogecoin, the real target of Shiba Inu.