Shiba Inu, a meme cryptocurrency named after a special breed of dogs, has made it to Coinbase’s Pro exchange platform. The crypto platform released a statement yesterday that listed the crypto asset on its app with the option of it going live today if there is enough liquidity.
Dogecoin came into existence in 2013, with its creators initially making a joke out of the idea. The coin has transformed from one of the silliest jokes in the crypto world to a hot prospect where big sharks like Elon Musk, and Mark Cuban are jumping on. On the other hand, Shiba Inu promises to surpass the memecoin with its supply running to trillions (394 trillion) and its maximum supply ranking at one quadrillion.
Did Shiba Inu Really Burn?
Many crypto enthusiasts have reserved their comments regarding Shiba Inu’s claim of burning half of their token supply. In reality, Vitalik Buterin, a co-founder of the Ethereum digital asset, collected half of the tokens. This was “burning”, according to Shiba Inu.
In the real sense of the crypto world, burning coins means the coins are transferred to another unique wallet where no one controls or have access. This is to make sure the coins remain safe and not tampered with.
Coinbase is looking beyond the situation. It had earlier planned to add the token on its Pro exchange platform on the 15th of June but that proved abortive due to the Shiba Inu team’s laying claim of technical issues.