SHIB coin: Why did Shiba Inu skyrocket in value? What’s next?

Shiba Inu coin — a meme-based cryptocurrency token — has soared to new levels after the Coinbase app added the token to its platform

Coinbase added the cryptocurrency earlier this week, allowing users to trade Shiba Inu coin on Coinbase.com and the company’s mobile app.

Is Shib coin available on other apps?

Earlier in September, Coinbase added Shiba Inu Coin to the Coinbase Pro app, which is an additional trading platform for professions, as I wrote for the Deseret News.

  • There has been ongoing speculation that Shiba Inu coin would join Coinbase after the Coinbase Custody platform, which allows people to deposit and withdraw cryptocurrency assets, added support for the Shib coin token.

Will Shib coin’s value rise?

For some time, investors thought Shiba Inu coin would spike in price and value because of its listing on Coinbase. Shiba Inu coin often draws more value when it’s mentioned on social media because a lot of its value is driven by hype. When social media hypes it up, people will learn more about the coin and invest.

That said, Shib coin is still a risky investment. “Memecoins are highly volatile cryptocurrencies that are known to witnesses sharp movements based on news events,” according to Mint.