Shiba Inu Lost 12% Value Due to Technical Issue on Coinbase Pro
On Tuesday, June 15, the Shiba Inu token had to be launched on the Coinbase Pro platform. But the exchange delayed the expected listing, and SHIB fell 12% overnight.
“We are having technical issues that will temporarily delay the launch of SHIB on Coinbase Pro,” the exchange wrote yesterday in an update to the June 15 announcement.
The platform announced the shutdown of SHIB deposits. But it is still possible to withdraw the funds. During the technical delay, the SHIB price fell 12%.
A similar technical delay on Coinbase Pro also affected the deployment of Solana.
According to a March report by Messari, the “Coinbase Effect” contributes to an average price increase of 29% five days after product launch.
Currently, the price of a separate SHIB token is significantly lower than a penny, but a massive turnover of 500 trillion tokens brings its market capitalization to almost $ 4 billion.