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Shiba Inu (SHIB) Spikes Following Kraken Listing

CryptocurrencyNov 30, 2021 08:30AM ET
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Shiba Inu (SHIB) Spikes Following Kraken Listing

Dogecoin-killer, Shiba Inu (SHIB) has obtained a top-tier listing, as the Kraken exchange announced that SHIB is now live on the U.S.-based exchange. The announcement comes less than a month after Kraken failed to fulfill its initial promise to list SHIB.

On November 29th, Kraken announced that SHIB is active on the exchange and will be tradable against the USD and the EUR, starting from November 30th. To deposit SHIB, users will need to complete 20 confirmations, which takes approximately 5 minutes to do.

Once the confirmations have been completed, users can deposit SHIB on their Kraken account by navigating to “Funding,” selecting the asset, and hitting “Deposit.” Kraken announced that the minimum deposit is 373,000 SHIB, while a minimum of 50,000 SHIB is required for trading.

On the Flipside

  • Other exchanges have been hesitant to list the Dogecoin-inspired Altcoin over regulatory concerns.

At launch, users will be able to access SHIB on Kraken and Kraken Terminal. However, Kraken Futures and Margin Trading won’t be available for SHIB traders at launch.

Since the Kraken listing, SHIB’s price has jumped by more than 40%. The price of SHIB rose from $0.00003852, recorded on November 29th, to set a new weekly high of $0.00005361.

The 24 hour price chart for Shiba Inu (SHIB). Source: Tradingview

At the time of this writing, SHIB is trading at $0.000052. Shiba Inu now has a market cap of $28.7 billion, which makes it the 11th largest crypto – just one place behind Dogecoin.

Why You Should Care?

A top-tier listing for Shiba Inu is proof that the project is maturing past its reputation as a meme coin.

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Shiba Inu (SHIB) Spikes Following Kraken Listing
 

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