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Kraken to list Shiba Inu (SHIB)

Tue 30 Nov 2021 ▪ 11h46 ▪ 2 min read — by Katie Donaldson

Kraken, one of the largest crypto exchanges in the world, now officially lists the Shiba Inu token. The cryptocurrency jumped over 16% after the announcement.

shiba inu, shib, crypto

Thanks to Kraken, SHIB will rise again

Funding is already live, with trading starting within hours today, 30th November. 

The platform first teased the move on 1st November. The official SHIB twitter posted that the listing will start within 24 hours – only to deliver on the promise almost a month later. However, SHIB supporters are still beyond excited. After all, the exchange’s officials did warn the community later that the process might actually take a while.

“Community is an important part of our considerations for all listings, and you have clearly shown your support. There’s more work for us to do as we move through our listing review process,” the spokesperson for Kraken commented on listing SHIB a few weeks ago.

According to the exchange’s blog, the minimum required deposit is 373,000 SHIB, the coin can be traded against the US dollar and euro, with a trading minimum of 50,000 SHIB, a price precision of 8 decimal points and a quantity precision of 5 decimal points. Futures and margin trading won’t be available at launch. Deposits will require around 5 minutes to go through.

The cryptocurrency’s price jumped immediately after the announcement was made, going from $0.00004522 to a high of $0.00004768. It has gained almost 54,310,000% year-to-date compared with a rise of 100% in Bitcoin (BTC). Kraken will put more liquidity in the token. Resistance is also getting flatter, showing a slowdown in the SHIB’s decline.

Crypto exchange Kraken has just announced support for the meme cryptocurrency Shiba Inu. Kraken became the third crypto exchange to start listing SHIB this month.

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Katie Donaldson avatar
Katie Donaldson

I went full time crypto back in June 2018, and have never looked back. I want to help persuade as many people as possible to come and build the decentralised future! Let’s go!

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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