{"id":12481,"date":"2021-09-18T02:52:12","date_gmt":"2021-09-17T22:22:12","guid":{"rendered":"https:\/\/blue-subtitle.com\/blog\/?p=12481"},"modified":"2021-09-18T02:52:12","modified_gmt":"2021-09-17T22:22:12","slug":"shiba-inu-shib-jumps-40-on-elon-musks-cryptic-endorsement-coinbase-listing","status":"publish","type":"post","link":"https:\/\/blue-subtitle.com\/blog\/shiba-inu-shib-jumps-40-on-elon-musks-cryptic-endorsement-coinbase-listing\/","title":{"rendered":"Shiba Inu (SHIB) jumps 40% on Elon Musk\u2019s cryptic endorsement, Coinbase listing"},"content":{"rendered":"<p style=\"text-align: left;\">Shiba Inu (SHIB) crept up Friday as traders assessed its addition on Coinbase, one of the world\u2019s leading crypto exchanges.<\/p>\n<p style=\"text-align: left;\">The SHIB\/USDT exchange rate jumped up to 16.42% to $0.00000950 for the first time since June 29, 2021. The latest move uphill came as a part of an overall bullish trend that started Thursday, wherein SHIB rallied by more than 26%. As a result, the token ended up pushing its returns up by over 40% in just two days of trading.<\/p>\n<p style=\"text-align: left;\">Gains for SHIB started emerging after Elon Musk, CEO of Tesla, tweeted about the arrival of a new Shiba Inu puppy called Floki.<\/p>\n<div class=\"twitter-tweet twitter-tweet-rendered\" style=\"text-align: left;\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"Twitter Tweet\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?creatorScreenName=cointelegraph&amp;dnt=false&amp;embedId=twitter-widget-0&amp;features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1437179881260032016&amp;lang=en&amp;origin=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fshiba-inu-shib-jumps-40-on-elon-musk-s-cryptic-endorsement-coinbase-listing&amp;sessionId=8b4e9ba61835f6b8b2b22789dd7ebbe4ef03fcf0&amp;siteScreenName=cointelegraph&amp;theme=light&amp;widgetsVersion=1890d59c%3A1627936082797&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1437179881260032016\" data-gtm-yt-inspected-7286441_727=\"true\" data-gtm-yt-inspected-7286441_728=\"true\" data-gtm-yt-inspected-1_25=\"true\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p style=\"text-align: left;\">The announcement, which came Monday, followed up with a modest 2.62% spike in SHIB\/USDT rates in the next session, iterating Musk\u2019s\u00a0continued influence\u00a0on a family of dog-featuring tokens, including Dogecoin (DOGE),\u00a0BabyDoge\u00a0and Floki Inu.<\/p>\n<h2 style=\"text-align: left;\">Coinbase now supports SHIB<\/h2>\n<p style=\"text-align: left;\">Additionally, Shiba Inu\u2019s rally had one more booster behind it.<\/p>\n<p style=\"text-align: left;\">The SHIB\/USD rates were already heading higher after the token\u2019s addition on United States-based digital asset trading platform Coinbase Pro earlier this month. And on Thursday, the pair continued its rally after Coinbase had\u00a0announced\u00a0that it would also add SHIB support to its platform.<\/p>\n<figure><img decoding=\"async\" title=\"\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/a5ca005f-ec51-42ce-ad2f-7fe6e62c1b0e.png\" alt=\"\" \/><figcaption><em>SHIB\/USDT daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p style=\"text-align: left;\">\u201cCoinbase customers can now trade, send, receive, or store SHIB in most Coinbase-supported regions,\u201d the announcement read. \u201cTrading for these assets is also supported on Coinbase Pro.\u201d<\/p>\n<h2 style=\"text-align: left;\">Road to recovery<\/h2>\n<p style=\"text-align: left;\">In detail, SHIB is an Ethereum-powered cryptocurrency that\u00a0attempts to mimic Dogecoin, a meme cryptocurrency. The Shiba Inu token rose to prominence merely because of Musk\u2019s cryptic endorsements of the joke cryptocurrencies. As a result, SHIB now has a $3.31 billion market capitalization, the 46th largest.<\/p>\n<p style=\"text-align: left;\">Shiba Inu\u2019s bullish prospects rely on its adoption, not utility. Traders buy SHIB, anticipating that more like them will join the pack and grow the community, just like in the\u00a0case of Dogecoin. The strategy has prompted Shiba Inu to use its popularity to launch a dedicated decentralized exchange called ShibaSwap.<\/p>\n<p style=\"text-align: left;\"><strong><em>Related:\u00a0Is ShibaSwap safe? DeFi Safety review gives it a score of just 3%<\/em><\/strong><\/p>\n<p style=\"text-align: left;\">ShibaSwap\u00a0in mid-August burned $25,000 worth of SHIB to boost the token\u2019s demand among speculators. The token started with a 1 quadrillion supply but\u00a0gifted half of it to Ethereum co-founder Vitalik Buterin. He later burned some of it by sending them to a dead wallet and\u00a0donating the rest (about $6.7 billion) to a COVID-19 charity in India.<\/p>\n<p style=\"text-align: left;\">SHIB\/USDT fell by more than 70% in response, hitting $0.00000510. At its best, the crypto was trading for $0.00005000.<\/p>\n<p class=\"post-content__disclaimer\" style=\"text-align: left;\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.<\/p>\n<div class=\"article-subscription-widget\">\n<div class=\"article-subscription-widget__form\" style=\"text-align: left;\">\nSource: Cointelegraph<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu (SHIB) crept up Friday as traders assessed its addition on Coinbase, one of the world\u2019s leading crypto exchanges. The SHIB\/USDT exchange rate jumped up to 16.42% to $0.00000950 for the first time since June 29, 2021. The latest move uphill came as a part of an overall bullish trend that started Thursday, wherein [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7509],"tags":[7520,7522,7521,7519],"class_list":["post-12481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-coinbase-listing","tag-cryptic-endorsement","tag-elon-musks","tag-shiba-inu-shib-jumps-40-on-elon-musks-cryptic-endorsement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shiba Inu (SHIB) jumps 40% on Elon Musk\u2019s cryptic endorsement, Coinbase listing - blue subtitle<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blue-subtitle.com\/blog\/shiba-inu-shib-jumps-40-on-elon-musks-cryptic-endorsement-coinbase-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shiba Inu (SHIB) jumps 40% on Elon Musk\u2019s cryptic endorsement, Coinbase listing - blue subtitle\" \/>\n<meta property=\"og:description\" content=\"Shiba Inu (SHIB) crept up Friday as traders assessed its addition on Coinbase, one of the world\u2019s leading crypto exchanges. The SHIB\/USDT exchange rate jumped up to 16.42% to $0.00000950 for the first time since June 29, 2021. 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