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Shiba Inu Goes 30% Up after Kraken Listing
Shiba Inu (SHIB) price has surged up to 30% in the last 24 hours as US-based crypto exchange Kraken on Monday announced it will begin supporting the viral meme coin as of Tuesday November 30.
According to the announcement on Kraken’s blog, there will be a minimum deposit of 373,000 SHIB ($16 USD), while the minimum trading volume is set at50,000 SHIB ($2 USD). Initially, SHIB will be tradeable against the USD and Euro pairs. Futures and Margin Trading are excluded at launch.
— Kraken Exchange (@krakenfx) November 29, 2021
Kraken’s had previously promised to list SHIB on November 1st. However uproar from the Shiba Inu community caused a setback in the launch.
Other exchanges remain hesitant to list the alleged ‘Doge killer’ over regulatory concerns, despite increasing pressure from their users. US trading app Robinhood was requested to list SHIB after a Change.org petition gathered over half a million signatures this month. COO Christine Brown declined the request and said that their strategy “is different than a lot of the other players out there who are racing to list as many assets as possible right now.”
At the time of publishing, SHIB is the 11th-largest cryptocurrency with a market capitalization of $27.11 billion, just behind Dogecoin.
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Author: Peter Siu