Kraken, a cryptocurrency exchange, has announced its support for the meme cryptocurrency shiba inu (SHIB). Deposits are now available, and SHIB trading is set to begin on Tuesday. Following Kraken’s announcement, the price of SHIB skyrocketed.
SHIB on Kraken: Deposits are now open, and trading will begin tomorrow.
Kraken, a cryptocurrency exchange, announced on Monday that shiba inu (SHIB) deposits are now available, with trading expected to begin on Tuesday. The following exchange was written:
We’re excited to announce that Shiba Inu are now supported by Kraken (SHIB).
“Funding is live, and we anticipate trading to begin tomorrow, November 30 — at which point Kraken will enable order entry and execution,” the exchange clarified, noting that futures and margin trading will not be available at launch.
According to the announcement, the shiba inu token will be tradeable against USD and EUR on Kraken, with a trading minimum of 50K SHIB, a price precision of 8 decimal places, and a quantity precision of 5 decimal places.
Furthermore, Kraken stated that SHIB deposits necessitate 20 confirmations, which it estimates will take about five minutes. The required minimum deposit is 373K SHIB.
SHIB’s price has risen more than 13% from $0.00003899 prior to Kraken’s announcement to $0.00004422 at the time of writing.
Shiba inu cryptocurrency investors have been waiting nearly a month for Kraken to fulfill its promise to list SHIB. On November 1, the exchange tweeted that if its tweet received 2K likes, the platform would list SHIB the next day. Within the time frame specified, SHIB supporters delivered more than 45K likes. Kraken, on the other hand, did not keep its promise.
Instead of listing SHIB, the exchange tweeted on November 2: “Community is an important part of our considerations for all listings, and you have clearly demonstrated your support.” We have more work to do as we progress through our listing review process.”
Meanwhile, Shiba inu crypto supporters continue to petition for SHIB to be listed on the trading platform Robinhood. At the time of writing, the petition had over 540K signatures. However, Robinhood recently stated that it is not in a rush to add more cryptocurrencies to its platform. This month, another major cryptocurrency exchange, Gemini, added SHIB support.