After a Grand Listing on Kraken, Shiba Inu has Increased by Almost 25%

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Key Takeaways:

  • Shiba Inu has increased by almost 25% after cryptocurrency exchange Kraken has announced support for it.
  • Deposits are now live, and SHIB trading is expected to commence on Tuesday.
  • SHIB increased by more than 15% on the daily candlestick, rising from $0.00004522 to $0.00004573, breaking above the EMA 20 resistance as verified on the charts on November 16.
After a Grand Listing on Kraken, Shiba Inu has Increased by Almost 25%
After a Grand Listing on Kraken, Shiba Inu has Increased by Almost 25%

Kraken, the world’s ninth-largest cryptocurrency exchange, announced today that it would begin facilitating the trading of Shiba Inu, a meme coin (SHIB). After the surge of meme tokens in the previous two years, this Dogecoin-inspired cryptocurrency has garnered a lot of traction. As a result, Shiba Inu trading is becoming more common on cryptocurrency exchanges throughout the world.

Kraken, a cryptocurrency exchange, stated that Shiba inu (SHIB) deposits are now available on Monday, with trading anticipated to begin on Tuesday. The following was written in the exchange:

“We are thrilled to announce that Kraken now supports Shiba Inus (SHIB).
Funding is live, and we anticipate trading to begin tomorrow, November 30 – at which point Kraken will enable order entry and execution,”
the exchange said.

However, futures and margin trading will not be available at launch.

Users can access trading services on the token starting November 30 by depositing a minimum of 373,000 SHIB ($15), which can then be traded against the USD and EUR.

The listing comes after Kraken’s relationship with a large number of users deteriorated when the exchange failed to list the token many times earlier this month, despite promising to do so.

Kraken understands how to read its audience. The choice to include Shiba Inu was perhaps the most popular listing on the Platform. In just one day, the news received 41.2K likes and 16.4K retweets.

That tweet makes it the crypto exchange’s second most popular tweet, trailing only a challenge in which the Community Management team promised to list Shiba Inu if their tweet received more than, erm, 2,000 likes.

The exchange maintained its word – at least in part – after the tweet’s popularity. The team stated that they would consider the interaction but cautioned that listing processes sometimes take longer.

They didn’t reveal it right away, but today’s statement demonstrates that they didn’t let the community down. Kraken and Kraken Terminal will be available for Shiba Inu, according to an official blog post.

It will only be traded against, and users will be able to access trading services on the token starting November 30 by depositing a minimum of 373,000 SHIB ($15), which can then be traded against the USD and EUR.

SHIBA INU is currently trading at $0.000047, up 11.77% in the last 24 hours, and has a staggering return on investment of 2,674,537.71% since its inception.

The listing comes after Kraken’s relationship with a large number of users deteriorated when the exchange failed to list the token many times earlier this month, despite promising to do so.

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