The cryptocurrency market witnessed a major momentum shift as Shiba Inu (SHIB), the popular meme coin, made its official debut on Coinbase, one of the world’s largest and most trusted crypto exchanges. The listing has triggered a wave of investor enthusiasm, with SHIB experiencing a 31.9% price surge to $0.000008815 within 24 hours. More notably, over **$870 million** in capital flowed into the asset during the same period, according to CoinMarketCap data.
With a current market capitalization of $3.4 billion** and a 24-hour trading volume spiking to **$2.5 billion—an increase of 1148.61%—Shiba Inu is proving that meme coins still command serious attention in the digital asset space.
👉 Discover how major exchange listings can trigger explosive crypto movements.
Coinbase Rollout: A Milestone for SHIB
Coinbase announced that Shiba Inu is now available for trading on its primary platforms: Coinbase.com and its mobile apps for iOS and Android. This marks the first time retail users on the mainstream exchange can directly buy, sell, convert, deposit, and withdraw SHIB tokens.
The rollout follows a phased approach. Earlier in the month, SHIB was quietly added to Coinbase Pro, the exchange’s professional trading platform—a move initially planned for June but delayed due to technical challenges. The full consumer launch came on September 17, 2021, when Coinbase confirmed via Twitter that SHIB was officially live across its ecosystem.
This broader accessibility significantly lowers the entry barrier for new investors, especially in the United States, where Coinbase maintains a dominant market presence. Analysts believe this listing could be a pivotal moment in legitimizing meme-based cryptocurrencies beyond speculative hype.
What Is Shiba Inu (SHIB)?
Shiba Inu is an Ethereum-based decentralized meme token created in August 2020 by an anonymous developer known as “Ryoshi.” Designed as a playful alternative to Dogecoin (DOGE), SHIB features the same mascot—a Shiba Inu dog—and embraces internet culture with a strong community-driven ethos.
Despite its lighthearted origins, the project has evolved into a multi-faceted ecosystem. Key components include:
- One quadrillion SHIB tokens in circulation, creating psychological appeal through high-volume denominations.
- ShibaSwap, a decentralized exchange (DEX) launched in July 2021 that enables users to stake, lend, and swap tokens.
- An NFT art incubator fostering digital creativity within the community.
- A deflationary mechanism where large token burns reduce supply over time.
One of the most talked-about moments in SHIB’s history occurred when the development team sent half of the total supply (500 trillion tokens) to Ethereum co-founder Vitalik Buterin. In a philanthropic move, Buterin donated a significant portion to COVID-19 relief efforts in India and burned the rest, effectively removing it from circulation.
This act not only boosted confidence in the project’s integrity but also highlighted the growing influence of decentralized communities in shaping crypto narratives.
👉 Learn how token burns impact cryptocurrency value and scarcity.
The Elon Musk Effect: How Social Media Moves Markets
No discussion about meme coins is complete without mentioning Elon Musk, whose tweets have repeatedly influenced crypto prices. Recently, Musk announced he had adopted a new puppy named Floki, a Shiba Inu breed—sparking immediate speculation and excitement around SHIB.
While Musk did not explicitly mention the cryptocurrency, the timing and context were enough to ignite a short-term rally. On Friday morning following the tweet, SHIB’s price climbed sharply as traders interpreted the post as indirect endorsement.
This isn’t the first time Musk has impacted SHIB or DOGE. His frequent references to Dogecoin—calling it “the people’s crypto”—have led to multiple price surges. Even Tesla’s partial acceptance of DOGE for merchandise payments added legitimacy to meme coins as viable digital assets.
However, experts caution that such rallies are often short-lived and driven more by sentiment than fundamentals. While social media buzz can fuel momentum, long-term sustainability depends on real-world utility and ecosystem development.
Market Reaction and Investor Sentiment
The Coinbase listing acted as a catalyst, but underlying demand was already building. Over the past month, SHIB had gained traction due to upgrades in its ecosystem and increasing adoption in decentralized finance (DeFi) applications.
According to on-chain analytics, the influx of $870 million suggests strong institutional and retail interest. Many investors view listings on top-tier exchanges like Coinbase as a stamp of approval—indicating improved security, liquidity, and regulatory compliance.
Moreover, being listed on Coinbase means SHIB is now accessible to millions of verified users who prefer regulated platforms over decentralized alternatives. This exposure could lead to sustained demand growth, especially if Coinbase integrates SHIB into its staking or savings products in the future.
Still, volatility remains a key concern. Meme coins like SHIB are inherently speculative, and rapid price swings can occur with minimal news or social media triggers.
Frequently Asked Questions (FAQ)
Q: Why did Shiba Inu's price go up after the Coinbase listing?
A: The listing increased accessibility for millions of users on one of the world’s most trusted crypto exchanges, boosting confidence and triggering a buying surge from both retail and institutional investors.
Q: Is Shiba Inu a good long-term investment?
A: While SHIB has shown impressive growth, it remains highly speculative. Long-term value will depend on continued ecosystem development, real-world use cases, and broader market conditions.
Q: How does ShibaSwap work?
A: ShibaSwap is a decentralized exchange allowing users to swap tokens, provide liquidity, stake assets (like BONE or LEASH), and earn rewards—all without intermediaries.
Q: Can I stake Shiba Inu (SHIB) on Coinbase?
A: As of now, Coinbase does not support staking for SHIB. However, users can stake other assets like ETH or participate in DeFi platforms such as ShibaSwap directly.
Q: What makes SHIB different from Dogecoin?
A: While both are meme-inspired coins, SHIB is built on Ethereum, enabling smart contract functionality and integration with DeFi and NFTs—features Dogecoin currently lacks.
Q: How many Shiba Inu coins are there?
A: There are one quadrillion (1,000,000,000,000,000) SHIB tokens in circulation. Half were burned early on to reduce supply and increase scarcity.
Looking Ahead: Beyond the Hype
While the recent surge underscores SHIB’s popularity, its long-term success hinges on moving beyond memes and social media buzz. The team behind Shiba Inu continues to expand its ecosystem with initiatives in gaming, metaverse projects, and decentralized identity solutions.
With increased visibility from major exchanges and growing community engagement, SHIB may be positioning itself as more than just a joke coin—it could become a gateway for mainstream users into DeFi and Web3 technologies.
👉 Explore how emerging ecosystems are shaping the future of decentralized finance.
As always, investors should conduct thorough research and consider risk tolerance before entering volatile markets. But one thing is clear: Shiba Inu’s journey has only just begun.