Shiba Inu (SHIB) had gained some semblance of popularity when it was deemed the ‘Dogecoin (DOGE) killer’ some time ago. However, the expectations have not quite lived up to the hype, and the developments surrounding SHIB’s recent listing on Coinbase Pro have not helped matters either.
The U.S crypto exchange stated that the ‘meme’ coin shall not be debuting yet, as ‘temporary delays’ are currently being experienced.
SHIB to be listed on Coinbase Pro
Shiba Inu being listed on Coinbase Pro was a surprise to many, to say the least. This is largely because the exchange routinely tries its best to ensure that only the top-quality cryptocurrencies are listed on its exchange, and SHIB does not exactly possess the key fundamentals or tokenomics that would deem it to be one of the top crypto choices available on the market. This makes sense, too, as the altcoin, much like DOGE, is largely considered to be a joke by numerous investors, and many believe that it only really exists to counter Dogecoin.
Still, this did little to stop Coinbase Pro from listing the altcoin alongside both Chiliz (CHZ) and Keep Network (KEEP) earlier on in the week. Needless to say, the so-called ‘Shiba Army’ went absolutely ballistic at the thought of SHIB being listed on the abovementioned exchange. However, this joy was soon transformed into distraught and frustration as not only has SHIB’s listing been temporarily delayed, but the altcoin’s price had also decreased by almost 10%.
The delay on the Coinbase Pro listing has resulted in a dip of approximately 10% for SHIB, which inadvertently erased all of the gains that the altcoin did manage to earn from the slight bump which had happened less than a week ago. What is even more alarming, though, is the fact that the cryptocurrency is down by a whopping 80% from the all-time high price it had on the 10th of May 2021, but thankfully for SHIB investors, the situation is not as bad as last November when substantial lows had been experienced.
All is not lost either, as the delay in SHIB’s listing is only temporary, as previously mentioned. Coinbase Pro has stated that investors can look forward to having SHIB be listed sooner rather than later and that an updated schedule and timeline for enabling trading and restoring deposits shall be provided in the near future.