SHIB Explodes 44% Reaching New Monthly High After Coinbase Listing

The SHIB token explodes 44% and reached a new monthly high soon after the Coinbase listing as we are reading more in our latest altcoin news today.

The listings on the biggest US-based crypto exchange result in immediate price surges and this has once again transpired with Shiba Inu. The SHIB token exploded 44% in one day, to a new monthly high. Coinbase announced the latest token to be listed for trading on the main platform Coinbase Pro and two apps for both iOS and Android. The exchange enabled the customers to trade, send and receive the SHIB token in almost every Coinbase-supported region. Shiba Inu became popular as the DOGE mania turned wild. It also advertised itself as the DOGE-killer but unlike most meme coins that were launched as a joke in 2013, SHIBA Inu promised to release a new exchange that is decentralized which it did earlier this year and it was dubbed Shibaswap.

The listing on Coinbase was followed by a price surge and it all happened plenty of times in the past when the new token reaches the giant exchange. SHIB stood at $0.0000065 before teh announcement when it exploded by 45% to a high of $0.0000095 which eventually led the price to reach a high level not seen since mid-august. Despite retracting to $0.0000085 in the next few hours, SHIB is still more than 20% up on the day and its market capitalization is north of $4 billion with the token being the 46^th biggest by that metric as per coingecko.

As recently reported, The multi-asset investment platform eToro lists SHIB on its platform with plans to go public later this year and now it has listed the meme token after noticing a substantial demand from customers. Founded in 2006, eToro is an Israeli social trading brokerage company that has offices in a few EU countries as well as the US and Australia. The company announced the listing of SHIB in a press release and the statement read that the addition came due to the strong customer demand. Users of eToro will be able to interact with the meme coin as Shiba “In millions” which is a lot of one million Shiba Inu units. According to the statement, this will provide customers with a better understanding of the pricing in a regular, two-decimal point format.