Shiba Inu (SHIB) Mispriced on Coinbase Resulting in Significant Investment Losses

October 15, 2021 Author: Brian Levin
Shiba Inu Coin

Levin Law, P.A. Is Investigating Losses Related to Coinbase Mispricing of Shiba Inu Crypto

The national securities and class action law firm Levin Law, P.A. (“Levin Law”) is investigating investment losses related to an incorrect pricing for Shiba Inu (SHIB) on cryptocurrency exchange, Coinbase Pro (“Coinbase”). According to multiple news sources, the mispricing was the fault of the company and resulted in substantial losses for investors.

If you purchased overpriced Shiba Inu (SHIB) tokens on Coinbase, resulting in a significant investment loss, contact Levin Law, P.A. for a free consultation. Call (305) 402-9050 or email contact@levinlawpa.com to discuss your case with Levin Law founder and managing partner, Brian Levin. 

The Rise of Dog-Themed Cryptocurrencies

Shiba Inu is one of the latest to join a growing collection of dog-themed cryptocurrencies. Founded in August 2020 by Ryoshi, Shiba Inu (SHIB) was named for the ancient Japanese breed of the same name. It gained notoriety in September 2021 when it was listed on Coinbase Pro, one of the largest crypto exchanges in the country.

In addition to the major exchanges, SHIB is listed on the decentralized exchange, ShibaSwap. The memecoin is currently trending but is currently down after a huge initial surge. Many attribute the initial popularity of the coin to an Elon Musk tweet featuring his own Shiba Inu puppy. CoinMarketCap ranks the token in the top 20 trending coins.

Coinbase Pro Mispricing

U.S.-based cryptocurrency exchange Coinbase Pro caused havoc for SHIB investors after mispricing resulted in huge losses. For an unknown reason, the company listed Shiba Inu at a price substantially higher than the market average. The wrong pricing information was maintained on the site for hours. Once corrected, SHIB investors saw a decline of 85% or more in the asset. 

Shiba Inu’s current and future value continues to be in question. The value of cryptocurrencies is notoriously difficult to forecast, making them a risky investment. Cryptocurrencies are not regulated the same as other investments and may be subject to extreme volatility. 

Contact Levin Law, P.A. for More Information

It is strongly recommended that if you invested in Shiba Inu and suffered losses as a result of the Coinbase mispricing, you contact Levin Law, P.A. for a free case evaluation. Discuss your case directly with attorney Brian Levin at (305) 402-9050 or submit an email to contact@levinlawpa.com. All initial consultations are free and without obligation to retain our services. 

Most cases are accepted on a contingency fee basis, meaning that clients are not obligated to pay Levin Law’s attorney fees unless money is recovered on their behalf. Levin Law, P.A. is currently representing clients who have suffered these and related losses. Attorney Brian Levin is a trial-tested, internationally-recognized lawyer. 

About Levin Law

Levin Law is a premier national securities, cryptocurrency, and class action law firm.  Brian Levin, Levin Law’s managing attorney, has obtained settlements and recoveries of over $100,000,000 in assets through arbitration and litigation for investors throughout the country and the rest of the world. Levin Law represents retirees, individual investors, high-net-worth investors, ultra-high-net-worth investors, institutions, family offices, trusts, publicly held companies, and others.