Tuesday, May 28, 2024

Shiba Inu Token Price Rises 35% After Listing On Coinbase

Altcoin daily trading volume increased by over 1000% in the last 24 hours to reach $ 2.4 billion

The Shiba Inu token has risen in price by 35% after the altcoin listing was carried out by the largest US cryptocurrency exchange Coinbase on the evening of September 16 .

The token was also added to the platform for professional investors – Coinbase Pro. The cost of the cryptocurrency rose to $ 0.00000900. Shiba Inu capitalization has increased to $ 4.5 billion, according to CoinGecko.

Altcoin daily trading volume has grown more than 1000% in the last 24 hours to reach $ 2.4 billion, according to CoinMarketCap.

In July, Shiba Inu developers created their own decentralized crypto exchange, Shibaswap. During the first day of the platform’s operation, the number of blocked funds on it reached $ 1 billion.

The Shiba Inu token is called the “Dogecoin killer” by its creators. The project’s website says that its main task is to surpass Elon Musk favorite cryptocurrency in terms of capitalization.

The developers of Shiba Inu claim to have been inspired by the example of the Reddit community WallStreetBets, which artificially inflated the value of shares of GameStop, AMC and other unprofitable companies.

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