Dogecoin-killer (SHIB) has achieved a high-level listing as Kraken announced that SHIB is now active on the U.S. exchange. The announcement came less than a month after Kraken failed to deliver on its original SHIB listing promise. Initially, SHIB will be traded against USD and EUR pairs, however, when Kraken Futures launches, margin trading for SHIB will not be available.
Kraken Australia managing director Jonathon Miller told Cointelegraph that the cryptocurrency market supports projects with clear trade needs, including SHIB. The increase in the price of SHIB is driven by many factors. For example, today’s listing on the Kraken cryptocurrency exchange, the Newegg emmere platform, and AMC Theater announced that they have begun accepting payments from SHIB. The US cryptocurrency exchange Kraken recently announced that it will support Shiba Inu (SHIB) starting on November 30, with a minimum deposit of 373,000 SHIB and a minimum trading volume of 50,000 SHIB. The digital asset trading platform has begun to accept SHIB deposits.
The Shiba Inu token will be traded in USD and EUR on Kraken, announcement details adding that there is a 50K SHIB trading minimum, 8 decimal places price accuracy and 5 decimal places accuracy. In a blog post dated November 29, the exchange confirmed that the minimum deposit would be 373,000 SHIB with a minimum exchange of 50,000 SHIB, roughly $ 18.40 and $ 2.40, respectively. Kraken will make trading of token exchange pairs against the US dollar and the euro available on the platform with a minimum order of 50,000 SHIB.
SHIB will be paired with the U.S. dollar and euro to start, and at least 50,000 SHIB will be required to complete the transaction on Kraken. The blog also explained that currently only Kraken exchange services and Kraken terminals are available for SHIB. The cryptocurrency exchange Kraken also announced that after the launch of SHIB on the platform, it will no longer provide futures and margin trading services.
According to Kraken, for existing SHIB holders who wish to deposit their tokens, the minimum deposit amount is 373,000 SHIB. In terms of deposits, the minimum deposit is 3.73,000 SHIB and the amount is US$16 (approximately rupees). The company stated that users will be able to trade SHIB in U.S. dollars and Euros, with a minimum amount of 50,000 SHIB (~2.43 U.S. dollars).
SHIB price is up 23.3% in 24 hours after the announcement. The listing announcement had an immediate impact on the altcoin price as SHIB jumped 30% to hit a new two-week high above $ 0.000050. If you exclusively use Kraken, you can now purchase SHIB. While the exact date and time is not specified on which platform the Shiba Inu is actually listed, users can expect the cryptocurrency to appear relatively soon.
Shiba Inu (SHIB) is an Ethereum-based memecoin based on Dogecoin, launched in 2020 by an anonymous developer named Ryoshi. Shiba Inu, a memetic cryptocurrency inspired by Dogecoin, surged nearly 30% on Tuesday after being listed on the popular Kraken exchange. According to Business Insider reports, Kraken proposes to add a Shiba Inu coin to its platform, which will allow people to trade cryptocurrency tokens on different platforms.
But Kraken said on his Twitter thread on Tuesday that he still decided not to post the coin for now. At the time, the exchange promised to set a price for the coin in the next 24 hours if it received 2,000 votes.
After the success of the tweets, the exchange kept its word, at least in part. The team said they would consider interoperability, but cautioned that the listing process takes a long time. They didn’t list it right away, but today’s announcement shows they haven’t disappointed the community either.
Kraken tweeted that he had heard the so-called SHIBArmy about their intentions to list the cryptocurrency on the exchange, and noted that while the community is “an important part of our considerations for all lists,” it simply won’t list it. for now. On November 1, the exchange tweeted that if its tweet gets 2,000 likes, the platform will post a SHIB the next day. SHIB supporters have put more than 45 thousand likes within the specified time frame.
Despite the tweet being viewed over 83,000 times, Kraken fell short of its promises at the time. The so-called SHIBarmy of fans reacted with disappointment, stating that the Kraken had broken his promise.
Investors in the Shiba Inu cryptocurrency have been waiting for almost a month for Kraken to fulfill its promise to host the SHIB. The Kraken used his Twitter to ask the Shiba Inu community if they wanted the meme coin to be listed on the exchange. Following the success of the petition to include the meme coin, the trading platform sent out a survey to its users asking which coins were more optimistic, and Shiba Inu was among the assets named despite not being listed in the app.
SHIB fans also went online to express their belief that the meme coin with over a million owners is reason enough for Robinhood to post it. The coin brought out many of its supporters by asking for a quote. Among them is Robin Hood, who is being pushed by the “SHIB army” to include cryptocurrency on the list through a petition on Change.org, which has already received more than 533 thousand signatures.
Shiba Inu fans are monitoring the potential transfer of Robinhood and Kraken coins because this will create a new round of investors and buyers, potentially leading to a jump in the coin’s value. However, after the Kraken unexpectedly listed SHIB, SHIB fans can’t help but wonder if Robinhood will stop pushing and eventually list the coin. Satoshi Kusama, the head of the SHIB project, also took a step forward by retweeting a tweet that suggested that SHIB’s listing on Kraken would force Robinhood to set a price for the coin by the end of 2021. Another SHIB proponent even attributed the sharp decline in Robinhoods share price from August highs for a trading app that does not list Shiba Inu.
I contacted the Kraken team and asked when they would include SHIB in their transaction. The Krakens support team contacted me and said that they are always willing to add new digital assets such as SHIB to their exchange. Well, Kraken’s new Twitter announcement surprised me and the SHIB army. Well, Kraken just confirmed today that the cryptocurrency will be listed on Tuesday, November 30th.
Listing cryptocurrencies on the Kraken exchange may mean that investors will continue to sit down and watch. Its Kraken listing means that more investors and speculators can use it. Kraken’s adoption was another positive sign for SHIB, which fell 54% from its all-time high of $0.00008616. However, when Kraken starts trading, everyone’s eyes will be on the SHIB price.