Kraken lists Shiba Inu - price jumps 25% upwards

Shiba Inu – What is it?

To answer this question is simple and can be explained without much digression. SHIB is a meme coin. This means that no function, other than trading, is attributed to the coin.

The most famous meme coin for years, Dogecoin, whose logo is also adorned with a dog, has almost been outranked by SHIB. On coinmarketcap, the two are ranked right behind each other at #10 and #11. Still, Dogecoin and Shiba Inu are separated by nearly $2 billion in market cap.

The meme coin Shiba Inu has had one of the strongest price rallies this year. While its price was $0.0000000077, a number with 10 zeros as a decimal point, earlier this year, SHIB posted an all-time high of $0.00007957 in October. Shiba Inu has seen a 960% increase in value in just one month.

Shiba Inu Shiba Inu

Listing on Kraken

The Kraken crypto exchange is one of the oldest still in existence and one of the safest exchanges on the market. Due to the points just mentioned and the low fees, Kraken still attracts many crypto enthusiasts to it today and is the 4th largest spot exchange with a daily trading volume of $1.3 billion.

Yesterday, Kraken published an official blog post confirming that Shiba Inu will be available for trading on the exchange starting today, November 30, 2021. The minimum deposit is 373,000 SHIB, which is a current equivalent of just under $20.

Thus, Kraken is fulfilling its promise that the exchange made about four weeks ago. A poll was launched on the official Twitter account asking users if they wanted to see SHIB listed. The target of 2,000 likes to be reached was far exceeded. After just a few hours, the tweet already had over 80,000 likes.

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