On Tuesday, August 21st, Coinbase Pro, a trading platform for cryptocurrency investors, announced it would be discontinuing its support for Shiba Inu coin (SHIB), a digital cryptocurrency that’s used to pay for services and goods on the platform.
Shiba Inu coins (SHIB) market is under pressure as Coinbase Pro has decided to not support the coin on the platform. That is to say Coinbase Pro does not plan to add Shiba Inu coins (SHIB) to the exchange. This means that Coinbase Pro will not add the coin to its trading site. This is a major blow to the coin as it means the coin will no longer be available on the major exchange platform. This is a major setback in the coin’s uphill battle to get listed on Coinbase Pro.Shiba Inu’s (SHIB) debut on US crypto-currency exchange Coinbase Pro was a shocking surprise to many. After all, the latter is one of the most regulated and compliant exchanges in the world, while the former is just a meme currency with no function of its own. However, earlier this week Coinbase Pro named it along with Keep Network (KEEP) and Chiliz (CHZ) as three new assets to add to the platform’s list. Many in the cryptocurrency community have speculated that this is a way for Pro to stay relevant, or even compete with its rivals (who host such coins, but are perhaps less law-abiding) in terms of revenue. At the time, the Shibu-Inu community was in full swing. But the joy was short-lived after Coinbase Pro changed its plans for SHIB last Wednesday. We are experiencing technical issues that are temporarily delaying the launch of SHIB on Coinbase Pro, the exchange said in both a tweet and an updated blog post. We have disabled the SHIB deposits; withdrawals are still possible, the message adds, much to the chagrin of SHIB’s hopes. We have encountered some technical issues that are temporarily delaying the launch of SHIB on Coinbase Pro. For the time being, we have deactivated the deposit on the SHIB account; withdrawals are still possible. We will publish an updated schedule for the recovery of deposits and the release of transactions as soon as possible. – Coinbase Pro (@CoinbasePro) June 16, 2021
Shiba Inu drops
The announcement sent SHIB down nearly 10%, erasing gains made earlier in the week. The currency now stands at a staggering 80% from its all-time high on May 10, but it is still paying investors down to 13,599,764.8% from its November lows. Currently, SHIB is at the local support level, judging by the price charts. The $0.0000076 level is a clear demand level where buyers are looking to fill their coffers, while the $0.0000097 level is a clear supply level where sellers seem to be locking in their profits. Image: SHIB/USD via TradingView. But don’t get too excited about memcoin yet. Coinbase Pro says it looks forward to integrating SHIB repositories soon. We will announce an updated schedule for repayment of deposits and settlement of transactions as soon as possible, the company said.
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Frequently Asked Questions
Is Shib on Coinbase pro?
The Shiba Inu coin (SHIB) inevitably came under fire after Coinbase Pro refused to list it, leaving the SHIB token holders to panic sell their coins for pennies on the dollar. It was a surprising move by the cryptocurrency exchange, as Coinbase Pro is known as a go-to platform for blockchain enthusiasts and investors alike. As the company stated, and as the Shiba Inu coin community believes, this whole thing was an overreaction on everyone’s part. Coinbase Pro is a digital currency exchange focused on professional traders. Coinbase Pro does not allow the purchase of any products or services that are not approved in advance by the exchange. As a result, Coinbase Pro is not suitable for purchasing cryptocurrencies, including SHIB. Coinbase Pro’s decision to deny SHIB’s request for listing can be interpreted as the Coinbase Pro has concerns about the SHIB project.
Is Coinbase listing shiba inu?
Coinbase Pro is a trusted cryptocurrency exchange for professional traders. Since it’s launch in 2013, it’s become a leader in the market, trading more than 2.6 billion dollars in crypto in over seven million transactions. It’s also designed to be easy for newcomers, which is why they’re the first cryptocurrency exchange to support a new currency called shiba inu. Currently listed on Coinbase Pro, the shiba inu is a combination of three letters: SIB. Coinbase is the most popular cryptocurrency trading platform on the internet with over 25 million users. Whether you’re a Bitcoin or Ethereum miner or just a casual trader, Coinbase is one of the most popular ways to buy and sell digital currency.
Is Coinbase pro owned by Coinbase?
Coinbase has been doing everything it can to get approved by the US Securities and Exchange Commision and the Financial Industry Regulatory Authority. The decision is expected in early 2019 – which means we’ve got just over a year before we have a Coinbase! Coinbase Pro is a subscription service which includes both the Coinbase app for iOS and Mac and Coinbase web for signing up for and buying cryptocurrencies. The price of the cryptocurrency Shiba Inu Coin (SHIB) took a sudden dip on Thursday, November 28, 2018, after news emerged that Coinbase Pro, the company’s top-tier digital asset exchange, no longer supports the coin.
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