Kraken Teases Memcoin Fans with Shiba Inu (SHIB) Listing


Popular memcoin Shiba Inu (SHIB) may appear on the Kraken platform on November 2, but traders are in no hurry to buy on rumors.

Cryptocurrency exchange Kraken has promised to add the Shiba Inu (SHIB) token to the listing if the corresponding Twitter post gets 2,000 likes.

"Brian Hoffman has promised to add SHIB tomorrow if we get 2,000 likes, but he thinks we won't be able to handle it," the November 1 post said.

Listing details are not yet available, but fans of the coin are already jubilant and believe that Hoffman, head of product at the company, deliberately set the bar so low. The tweet got the required number of likes in 15 minutes. Now there are more than 56 thousand of them.

Exchanges are racing SHIB

In mid-September, Coinbase, an American competitor to Kraken, added the token to the list of cryptocurrency tradable products. This event triggered a large-scale rally in the token, which continued throughout October and ended with the renewal of the all-time high at $0.000088.

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As of November 2, a new trading pair featuring Shiba Inu has appeared on Binance. The exchange announced that users will be able to pair SHIB token in DOGE. SHIB/DOGE trades started at 11:00.

In addition, there are rumors in the market that Robinhood will also be adding Shiba soon. The petition in support of the listing of the token on this trading platform has already garnered over 400,000 votes.

Will price pump ensue after Kraken list Shiba Inu (SHIB)?

The price dynamics of SHIB/USD do not yet reflect the excitement around a possible listing of the token on the Kraken exchange. The token renewed its all-time high on October 28 at $0.0000885, but, failing to hold its position, went down to the support area around $0.00007.

As of this writing, SHIB/USD is trading at $0.00007. Over the course of the day, the coin fell by 1.3%, but in weekly terms, it is still in positive territory (+ 68%).

A Kraken listing will increase the coin's liquidity and could trigger a new wave of growth. However, experts advise being extremely cautious, pointing out the extremely speculative nature of the coin. Earlier, AtoZ Markets reported that Edward Snowden advised his Twitter followers to consider the risks and not give the last away to invest in the coin.

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