On Tuesday, Shiba Inu will make its trading debut on the cryptocurrency platform Kraken. After weeks of anticipation, the meme currency was finally listed on the exchange. The crypto exchange originally teased the listing on Twitter, where it asked the community to demonstrate its support for the listing. According to Kraken’s tweet, Product Lead Brian Hoffman stated that if the tweet received 2,000 likes, the joke currency would be put on the market the next day.
The number of likes on the tweet rapidly exceeded expectations, as the community came out in force to support the listing. However, the listing did not take place the next day as promised, although it was widely implied in the weeks that followed that the exchange would list Shiba Inu. On September 29th, Kraken revealed that the meme coin would be listed at the end of the month.
The cryptocurrency exchange has previously stated that it will initially offer to fund the altcoin. The next day, trade would begin. As of Monday, Kraken customers could deposit and withdraw Shiba Inu from the platform, but they couldn’t trade.
Trading on the exchange is slated to begin on Tuesday, with customers able to make orders and have them executed. The meme coin will offer USD and Euro trading pairings and a minimum trade amount of 50,000 SHIB. Shiba Inu will be accessible on Kraken as well as Kraken Terminal. On the other hand, Kraken Futures and Margin Trading will not be available for the coin at launch.
Kraken has a reputation in the cryptocurrency sector for being one of the most secure exchanges. The crypto exchange has never been hacked in almost a decade of existence and is the only exchange that can claim this distinction. Because of their users’ confidence in them, Kraken has become one of the most desirable exchanges to list.
Shiba Inu prices have been trending low for weeks following their previous all-time high. Since then, the meme currency has lost more than half of its ATH value. This would only persist for a short time as the cryptocurrency’s price began to rise. Positive news about the commodity, such as various exchange listings, has helped drive the price back up.
In addition, as confidence in the market gradually returns, interest in meme currencies is returning. The previous week had been a nightmare for investors, with bitcoin falling to the $54K level. It brought altcoins down with it, causing panic sell-offs in a variety of cryptocurrencies.
Shiba Inu surpassed one million owners last week, forcing the price to skyrocket. The digital asset is currently going upwards after breaking out of its low-momentum stretch.
