Memecoin, Shiba Inu has surged over 25% increase in its price following the listing announcement from top cryptocurrency exchange. The listing will enable Coinbase users to be able to trade, buy and sell Shiba Inu tokens on the company’s website and mobile applications.
Shiba Inu rose 25% in price following the listing and the market capitalization is now above $1 billion dollars. The Memecoin was one of the tokens that came with the market frenzy this year. It is an Ethereum based token that seeks to be an alternative to the popular Dogecoin.
Shiba Inu had crazy fans just like DOGE and they managed to push the token aggressively to the attention of several cryptocurrency exchanges including Coinbase. A number of exchanges listed the token not to miss out on the trading volume because of the attention it got all over the internet.
Shiba Inu token was one of the DOGE identical that were created earlier this year seeing the massive uptrend of DOGE and its campaign to $1. Shiba Inu has a token supply of about 1 quadrillion. There’s said to be an NFT project and a DEX in its ecosystem. It remains a question of time if Shiba Inu will be another shitcoin or not.
However, Shiba Inu still remains one of the top 50 largest cryptocurrencies by ranking according to Coinmarketcap. It has a market capitalization of more than 3 billion dollars.