Shiba Inu (SHIB) surges 16% following Kraken listing announcement

Key Takeaways

• Major cryptocurrency exchange Kraken has announced it is lising Shba Inu (SHIB) on its exchange
• While it oppened the platform for SHIB deposites today, trading will begin tomorrow, Nov 30
• Following the news, SHIB rallied over 16% before facing sligt forced corrections

YEREVAN (CoinChapter.com) – Popular cryptocurrency exchange Kraken announced earlier today that it will allow Shiba Inu (SHIB) trading from November 30. Fans of the canine-based cryptocurrency have been waiting for this news since at least the beginning of the month.

The announcement caused great excitement among the SHIB ARMY. Within hours of the announcement, it became evident that the meme token had its running shoes on. SHIB rallied over 16%, as fans and market opportunists rushed to stock up for tomorrow. 

“New Listing on Kraken:  @Shibtoken 

$SHIB deposits begin NOW! Trading is live on November 30,” 

the exchange tweeted.

New Listing on Kraken: @Shibtoken 🐶$SHIB deposits begin NOW! Trading is live November 30.

➡️ Learn more: https://t.co/yUUKaBXKBq pic.twitter.com/L2IUHugyG0

— Kraken Exchange (@krakenfx) November 29, 2021

However, while trading on the exchange begins tomorrow, Kraken has already started accepting deposits today. According to their official blog, the minimum acceptable deposit is 373,000 SHIB or around $15.

Holders can trade SHIB against USD and EUR, with a trading minimum of 50,000 SHIB.

The blog also clarified that only Kraken exchange services and Kraken Terminal will be available for SHIB at this point. Kraken Futures and Margin Trading won’t be available at launch.

Recommended: Shiba Inu eyes sharp bullish rebound despite SHIB’s 52% decline from record highs

Kraken’s SHIB listing was long overdue

Kraken’s Shiba Inu (SHIB) listing comes almost an entire month after Kraken backtracked on its promise to list SHIB.

On Nov 1, Kraken tweeted they would list SHIB the next day if their tweet gathered 2000 likes. Of course, the exchange’s product lead Brian Hoffman, who was apparently behind the wager, had underestimated Shib Army’s dedication. In no time, the tweet received thousands of likes and retweets. However, instead of listing the token on Nov 2 as promised, the exchange came up with an excuse that there there was “more work” to do as it moved through its token listing review process.

🐙♥️🐶 #SHIBArmy we’ve heard you loud & clear!

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.

— Kraken Exchange (@krakenfx) November 2, 2021

This, of course, did not go down well with the fans. They demanded that Kraken keep its promise, denouncing the exchange for its failure to list the popular meme token despite them having held up their end of the bargain. However, Kraken derailed the listing for an entire month. 

$SHIB got listed on Kraken and some people are like “whatever”. 🥷

— David Gokhshtein (@davidgokhshtein) November 29, 2021

Now that SHIB has made it on the Kraken list, fans can celebrate. As trading begins on the exchange tomorrow, the meme token will look to at least double its rally. SHIB currently holds a 50% gap between its all-time high of last month.