- The famous memecoin Shiba Inu has soared following listing on Coinbase, shooting up by over 30 percent immediately following the announcement by the exchange.
- Coinbase also listed Keep Network and Chilliz, and they both recorded huge gains, with the latter shooting up over 25 percent.
Coinbase has once again exhibited its status as a kingmaker in crypto, this time giving a huge boost to three tokens immediately upon listing. Shiba Inu, the famous memecoin that many tout as Dogecoin’s cousin, shot up by over 30 percent following its listing. Chilliz and Keep Network, the two other tokens which launched on Coinbase on June 15, also recorded impressive price gains.
Coinbase announced yesterday that Shiba Inu (SHIB), Chilliz (CHZ) and Keep Network (KEEP) were to launch on its platform. Users could start to transfer the three tokens into their Coinbase Pro wallets, except for users in Singapore. New York residents can also not access Chilliz and Shiba Inu. Trading starts on June 17 upon liquidity conditions being met.
Inbound transfers for CHZ, KEEP & SHIB are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thurs 6/17, if liquidity conditions are met. https://t.co/r2L6N477Uj
— Coinbase Pro (@CoinbasePro) June 15, 2021
Almost immediately upon the announcement of the listing, Shiba Inu shot up by 33 percent to hit $0.000009331. The memecoin has managed to sustain most of the gains through the past 24 hours and at press time, it’s trading at $0.000008933. Most impressive is the spike in trading volume. According to our data, the volume shot up 254 percent to hit $1.6 billion. Binance and Huobi continue to dominate the altcoin’s trading volume.
Shiba Inu now has a market cap of $3.5 billion. This makes it the 30th largest crypto, more valuable than cryptos with a more mature ecosystem and use cases, including NEO, IOTA, Bitcoin SV, Maker and Tezos. This is an impressive fete, considering that SHIB launched in August last year.
— DJ JY (@DJJY) June 15, 2021
Coinbase also announced support for Chilliz, the token that powers Socios.com, a fan token trading platform. The platform has become quite popular in recent months, with many of the biggest sporting brands minting their own branded tokens on Socios.com.
Chilliz is up 26 percent in the past day, now trading at $0.36 for a $2.1 billion market cap.
The third token, Keep Network (KEEP) is the least renowned of the three. KEEP surged to hit $0.62, up from $0.49. However, at press time, the token has shed some of the gains and is trading at $0.59. It’s still up 15 percent in the past 24 hours. KEEP has a market cap of $313 million.
The Keep Network provides storage for private data on public blockchains with ‘keeps.’ “Keeps are off-chain containers that allow contracts to manage and use private data without exposing the data itself to the public blockchain.”
The network describes itself as “Ethereum’s first private computer.”