Kraken cryptocurrency exchange announced its support of the meme cryptocurrency Shiba Inu (SHIB). SHIB trading will begin on Tuesday. Deposits have already been made. The price of SHIB surged following Kraken’s announcement.
SHIB On Kraken: Trading to Start Tomorrow! Deposits are Now Available
Kraken, a crypto exchange announced Monday that deposits for shiba Inu (SHIB), were live. Trading is scheduled to begin Tuesday. It wrote:
We’re thrilled to announce that Kraken now supports shiba inu (SHIB).
“Funding is live, and we anticipate trading will begin tomorrow, November 30 — at which point Kraken will enable order entry and execution,” the exchange clarified, noting that the futures and margin trading service will not be available at launch.
According to the announcement, the shiba-inu token can be traded against USD or EUR on Kraken.
Kraken further explained that SHIB deposits must be confirmed with 20 confirmations. This takes Kraken approximately five minutes. Minimum deposit: 373K SHIB
The price of SHIB jumped more than 13% from the $0.00003899 level prior to Kraken’s announcement to $0.00004422 at the time of writing.
The promise by Kraken that it would list SHIB has been delayed almost a month by crypto investors from Shiba Inu. On Nov. 1, the exchange announced that it would list SHIB if it received 2K likes on its Twitter. SHIB supporters generated more than 45K hits within the specified timeframe. Kraken failed to live up to its promises.
Instead of listing SHIB, the exchange tweeted on Nov. 2: “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.”
Shiba Inu Crypto supporters continue to petition Robinhood for SHIB listing. The petition currently has more than 554K signatures. Robinhood has recently stated that they are not in any hurry to add additional cryptocurrency. Gemini is another popular crypto exchange that added SHIB support to its platform this month.
Kraken listing SHIB. What are your thoughts? Please comment below.
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