In a blog post that Coinbase announced will be listed on Coinbase Pro, the trading platform for experienced and professional traders, it described its Meme-based cryptocurrency SHIB as:

   “Shiba Inu (SHIB) is a token that aims to be an Ethereum-based alternative to the popular memecoin, Dogecoin (DOGE). Unlike Bitcoin, which is designed to be scarce, SHIB is deliberately abundant – with a circulating supply of a quadrillion. The Shiba Inu Token ecosystem supports projects such as the NFT art incubator and the development of a decentralized exchange called Shibaswap.“

Phemex, a prestigious and popular crypto exchange founded by a former senior executive at Morgan Stanley, has added support for $SHIB.

Phemex announced that it has listed three popular crypto assets, SHIB, DYDX, and FTM. He also mentioned that SHIB traders can now trade there using the SHIB-USDT pair.