The so-called Dogecoin killer could see yet more interest with the upcoming launch of its ShibaSwap DEX.
Coinbase announced on its blog yesterday that Shiba Inu (SHIB) would be among the latest tokens to be made available to Coinbase Pro customers.
The news comes only a fortnight after the exchange announced long-awaited support for Dogecoin, and starting tomorrow, Coinbase Pro users will be able to trade DOGE rival SHIB, which bills itself as the “Dogecoin killer”.
Shiba Inu describes itself as “an experiment in decentralized spontaneous community building” in its “Woof paper” (whitepaper). With an initial supply of 1 quadrillion SHIB, the token is designed to be able to outpace Dogecoin in terms of growth without even reaching $0.01.
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What makes Shiba Inu a possibly good buy right now?
SHIB has been around since last August but only came to the attention of many traders last month when it surged by more than 2,200% in a matter of days. The token could see yet more interest with the upcoming launch of the ShibaSwap decentralised exchange (DEX), which will provide “Puppy Pools” where SHIB holders can bury (stake) their tokens or dig (farm) for BONES – a new token yet to be released.
The price of SHIB spiked 24% following the Coinbase Pro news. The exchange is also adding support for Chiliz (CHZ), which powers the Socios.com fan token platform, and Keep Network (KEEP), which aims to bridge private data and public blockchains.
CHZ will be available in trading pairs with USD, GBP, EUR and USDT, while SHIB will be tradable with USD and USDT, and KEEP just with USD. However, residents of New York will not be able to trade SHIB or CHZ.
Inbound transfers of SHIB, CHZ and KEEP began being accepted yesterday, and providing liquidity conditions are met, trading of the tokens will open tomorrow.