Coinbase Pro, the advanced trading platform of the major U.S.-based cryptocurrency exchange, has announced it will begin supporting Shiba Inu (SHIB), Keep Network (KEEP), and Chiliz (CHZ). Starting June 17, eligible users can initiate transfers of these assets to their accounts.
The launch will follow a structured rollout across multiple trading pairs, including SHIB-USD, SHIB-USDT, and various CHZ and KEEP markets. Trading will begin in post-only mode, advance to limit-only, and finally enable full trading services.
What Is Shiba Inu (SHIB)?
Often referred to as the “Dogecoin killer,” Shiba Inu (SHIB) is a meme-inspired cryptocurrency that gained popularity through its vibrant online community and cultural appeal. Unlike Dogecoin, which operates on its own blockchain, SHIB is an ERC-20 token built on the Ethereum network.
This difference offers SHIB compatibility with Ethereum’s extensive ecosystem of wallets, decentralized applications, and smart contracts.
Market Performance and Reaction
At the time of the announcement, SHIB was ranked among the top 20 cryptocurrencies by market capitalization, exceeding $9 billion. News of the Coinbase Pro listing contributed to a significant price surge, with SHIB climbing over 33% in 24 hours.
While still below its all-time high from May 2021, the listing represents a major milestone for the project, offering increased accessibility and legitimacy.
The Impact of Major Exchange Listings
Inclusion on a leading exchange like Coinbase Pro often leads to improved liquidity, wider investor access, and enhanced visibility for a digital asset. For a community-driven project like Shiba Inu, this type of endorsement can be a powerful catalyst for growth.
It introduces the token to a large, established user base that values regulatory compliance and security.
How to Trade Newly Listed Assets
When a new token becomes available on an exchange, it’s important to understand the phased trading approach. The initial “post-only” phase allows users to place limit orders that are not immediately matched, helping the market establish an equilibrium price.
This is followed by “limit-only” trading, and finally, full trading with market orders enabled. New traders should familiarize themselves with these different order types for a better experience.
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Frequently Asked Questions
What is Shiba Inu (SHIB)?
Shiba Inu is a cryptocurrency token created on the Ethereum blockchain. It was inspired by the meme culture surrounding Dogecoin and has developed a large online following. Its ecosystem also includes other tokens like LEASH and BONE, and it aims to expand into decentralized fundraising with ShibaSwap.
How can I buy SHIB on Coinbase Pro?
After the launch, eligible customers can fund their Coinbase Pro account and transfer SHIB to it. Once trading is live, you can place buy orders through the SHIB-USD or SHIB-USDT order books using the platform’s trading interface.
Why did the price of SHIB increase after the announcement?
Listing on a major exchange like Coinbase Pro typically increases buying demand and improves token accessibility. This often leads to positive market sentiment and short-term price appreciation as new investors enter the market.
Is Shiba Inu built on Ethereum?
Yes, unlike Dogecoin, SHIB is an ERC-20 token, meaning it resides on the Ethereum blockchain. This allows it to be stored in Ethereum-compatible wallets and interact with decentralized applications within that ecosystem.
What are the other tokens listed alongside SHIB?
Coinbase Pro also added support for Chiliz (CHZ), which powers the Socios.com sports fan engagement platform, and Keep Network (KEEP), a project focused on privacy infrastructure for public blockchains.
Does listing on Coinbase Pro guarantee a token’s success?
While a listing provides significant benefits like exposure and liquidity, it does not guarantee long-term success. The value of a cryptocurrency depends on many factors, including market sentiment, utility, community support, and broader economic conditions.