Coinbase Pro has added Shiba Inu coin to its platform

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Coinbase, a crypto token exchange service, has officially added Shiba Inu coin to its Coinbase Pro platform, with trading going live on Thursday.

“Inbound transfers for SHIB are now available in the regions where trading is supported,” according to Coinbase Pro’s Twitter.

Can you get Shib coin on Coinbase?

Coinbase Pro said SHIB is not available on the Coinbase.com platform or through the consumer mobile apps.

“SHIB is not yet available on http://Coinbase.com or via our Consumer mobile apps. We will make a separate announcement if and when this support is added,” Coinbase Pro said on Twitter.

There has been speculation that the Shiba Inu coin would join Coinbase after it added support for the Shib coin token to Coinbase Custody, which allows people to deposit and withdraw cryptocurrency assets.

Investors have believed the Shiba Inu coin will spike in price and value because the listing will kick up social media discussion, which will build hype around the coin, according to CoinDesk.com.

Shiba Inu coin dropped in value

The addition to Coinbase Pro comes as Shib coin and Dogecoin — both meme-based crypto tokens — suffered massive drops in recent days, likely due to a drop in interest.

AMBCrypto reports that “open interest for both memecoins dropped considerably at the first sign of corrections.”

Indeed, Shib coin may have dropped off a bit because Dogecoin has been dropping off.

Shiba Inu Seems Primed To Move Up As SHIB Accumulation Continues – CryptoMode

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The past week has been rather interesting for Shiba Inu (SHIB), although not everything went as planned. The Coinbase Pro listing turned into a disaster due to the company’s fault, resulting in some confusion as to what was going on. However, it seems traders continue to accumulate SHIB at the current price, indicating a price surge may be near.

SHIB Accumulation Resumes

Even though the recent Shiba Inu price momentum may not seem promising, some clear trends become apparent. Since the recent price surge, the SHIB value has been hovering near the current price level for a while. One big dip in the past week coincided with a price decline across all significant crypto markets. However, the subsequent bounce is impressive as the current price level has been reclaimed without too much resistance.

What is rather interesting is how this appears to hint at ongoing Shiba Inu accumulation. While the four-hour candles are still bearish, there isn’t too much intent to break the current price level either. Instead, traders are happy to keep buying at the current value while others unload their bags. As a result, the Bollinger Bands tighten again, which will usually result in price action. Given the rate of accumulation at this value, that action may very well be bullish.

That being said, there is still a lot of liquidity across the different trading platforms. Some people still hold out hope to see SHIB at $0.01, although that is nearly impossible. The token has a total supply of 1,000,000,000,000,000. If a $10.01 price is reached, Shiba Inu gains a market cap of $10 trillion. Of course, nothing is impossible in the cryptocurrency world, but such a high price seems rather unlikely. A 10x or even 100x from here may be possible if the ecosystem gains more utility and traction, though.

The Coinbase Pro Mess

One of the significant developments for Shiba Inu is how SHIB is now available on Coinbase Pro. An important milestone for any crypto asset, although things did not go as planned whatsoever. For reasons unknown, Coinbase Pro listed the Shiba Inu price much higher than the market average. Traders woke up to an 85% price decline on this exchange, even though the actual value of SHIB had not changed.

It is unclear why Coinbase Pro maintained the wrong price information for several hours. That makes it seem as if Shiba Inu had a massive market crash, even though that wasn’t the case. Creating unnecessary panic is a bad look for a publicly traded company.

Interestingly, it would appear the wrong price information doesn’t trigger a massive sell-off. Statistics confirm over 90% of users on the platform have bought or held SHIB since it became accessible. Whether that statistic is accurate is uncertain, but it can strongly indicate accumulation and support. SHIB is ranked $83 in popularity on Coinbase Pro, a ranking that will likely increase over the coming weeks.

CoinGecko Search Popularity

Gauging the popularity of crypto assets is not that easy. However, the search popularity on data aggregation platforms like CoinGecko can often provide valuable insights. For Shiba Inu, it has re-entered the top 30 trending coins again. An intriguing development indicates that more people want to discover the SHIB ecosystem and whether it has any future price potential.

Shiba Inu Primed to Run Following Coinbase Pro Listing

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Key Takeaways Shiba Inu surged by more than 47% within hours after Coinbase Pro revealed it would add support for the project.

If SHIB continues to benefit from the so-called “Coinbase effect,” it could be poised for further gains.

Prices could aim for $0.00000911 if buying pressure accelerates.

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Shiba Inu has enjoyed a rally after Coinbase Pro revealed it would list the token on its platform. SHIB has surged by 47%.

Shiba Inu Listed on Coinbase Pro

Meme coin Shiba Inu has gathered a significant amount of attention from retail investors over the last few months, with a recent Coinbase Pro listing fueling the asset’s rise.

SHIB has jumped this week to become the 54th largest cryptocurrency by market cap.

Coinbase announced it had enabled inbound transfers for SHIB before making it available for trading Wednesday. The trading platform said in a tweet that “once the liquidity conditions are met,” Shiba Inu will become available for trading against the U.S. dollar and Tether (USDT) on Sept. 9.

Following the announcement, Shiba Inu’s price shot up. The meme coin surged by more than 47%, going from a low of $0.00000555 to a high of $0.00000820 within a few hours. Although SHIB is down nearly 14% since the peak, further buying pressure could see its price advance further.

From a technical perspective, Shiba Inu appears to be contained within a parallel channel. Each time SHIB has risen to the channel’s upper or middle boundary since Jun. 5, a rejection has occurred, pushing prices to the lower edge. From this point, it tends to rebound, which is consistent with the characteristic of a channel.

SHIB recently rebounded from the channel’s lower trendline. If the price action seen over the past month repeats, it could slice through the channel’s middle trendline towards the upper edge at $0.00000911.

Turning this significant resistance barrier into support would signal a breakout of the consolidation pattern, presenting a 36% upswing to $0.00001238.

It is worth noting that for the optimistic outlook to be validated Shiba Inu must not lose $0.00000582 as support. A decisive close below this demand wall could lead to a 36% correction instead. The parallel channel’s width points to a bearish target of $0.00000263 if support is lost.

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