Shiba Inu Crypto News: SHIB Prices Drop as Coinbase Pro Delays Trading


Shiba Inu (CCC:SHIB-USD) has been on a tear these past few days, gaining in consecutive sessions. The altcoin is even slated to hit Coinbase (NASDAQ:COIN) Pro this week. But, with some unanticipated Shiba Inu crypto news, the token is taking a hit this morning.

A close-up shot of an angry Shiba Inu dog growling with a black background.

Source: Shutterstock

Earlier this week, Coinbase announced that it is bringing Shiba Inu, along with friends Chiliz (CCC:CHZ-USD) and Keep Network (CCC:KEEP-USD), to its Pro platform. On Monday, users were given the ability to add their SHIB, KEEP and CHZ to their accounts. Trading was set to begin yesterday, June 16, as long as liquidity conditions were met.

Unfortunately for SHIB, though, there are some hang-ups.

Technical issues prevented the Coinbase team from adding Shiba Inu trading yesterday, to the anger of the token’s fans. The company took to Twitter with the simple, but unclear announcement:

Shiba Inu’s official Twitter account had retweeted the initial listing announcement. However, the account is quiet today. They are offering up no insight into what these technical issues are. Nor are they open about how deeply Coinbase has made the SHIB developers aware of the issues.

Shiba Inu Crypto News Deals Blows to Past Week’s Gains

As a result of the tweet, there are plenty of prospective SHIB buyers and existing holders reacting sadly to the news. Others are calling for Coinbase to use the opportunity to revoke the listing.

The token’s presence on the trading platform is largely controversial, as many investors are skeptical of SHIB and other yield-farming tokens. SHIB will be one of the first meme coins seeing a Coinbase listing after Dogecoin (CCC:DOGE-USD) which took much petitioning from DOGE’s hundreds of thousands of supporters.

The pessimistic sentiment around the delayed listing is precipitating a loss for SHIB this morning. Shiba Inu prices are dropping by 9%, and trading volumes are down nearly 50%.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Brenden Rearick is a Financial News Writer for InvestorPlace’s Today’s Market team. He mainly covers digital assets and tech stocks, with a focus on crypto regulation and DeFi.

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