Cryptocurrency exchange Kraken announced support for a meme-based cryptocurrency called SHIB. SHIB deposits went live this week and trading is expected to commence on Tuesday. The stock price of SHIB surged following Kraken’s announcement
SHIB on Kraken: Our Deposits and Trading is LIVE!
Earlier today, Kraken Exchange announced that Shiba Inu (SHIB) deposits are live and trading is expected to start tomorrow. The exchange wrote:
We’re thrilled to announce that Kraken now supports shiba inu (SHIB).
Funding went live a few days ago, and trading starts tomorrow. But it will take a few days for margin trading to be enabled.
There will be a new token called the Shiba Inu Token. You will have one of these if you hold Ethereum or Ethereum Classic, said to be tradeable on Kraken, the announcement stating that there is a trading minimum of 50K SHIB for a specific price precision and quantity precision.
Kraken explained that their SHIB token needs 20 confirmations which are about the same as 5 mins. As for their minimum deposit requirements, it is 373K SHIB.
Kraken’s announcement had a major impact on the price of SIA! When they first opened at $0.00003899, all that changed in a single day and it reached a huge high of $0.00004422, a 13% increase in less than 24 hours!
Shiba Inu crypto investors have been waiting for weeks now for Kraken to fulfill its promise. Khronos said on Nov. 1 that if the tweet gets 2,000 likes it will list SHIB, but after more than three thousand likes they still haven’t delivered on their promise. SHIB supporters delivered more than 45K likes to the page in the given time. However, Kraken did not deliver its promise.
The company did not list SHIB to their exchange but tweeted this on November 2nd: “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.”
Meanwhile, Shiba Inu Cryptocurrency supporters are petitioning for Robinhood, a trading platform, to list SHIB. As of writing the petition has garnered more than 540K signatures. Robinhood says it’s not in a rush to list more cryptocurrency, while another major crypto exchange, Gemini, added support for SHIB.