Shiba Inu (SHIB) Becomes Available on Kraken

by in Cryptocurrency News

Kraken Shiba Inu

One of the leading crypto exchange platforms, Kraken, revealed the listing of Shiba Inu. In the published post, the team says that trading will be open from Nov. 30.

Related: SHIB Flipped DOGE by Market Cap, Hitting a New ATH

Users can trade SHIB for US dollar and Euro. Futures and margin trading won't be possible at release. The minimum needed deposit is 373,000 SHIB, while the trading minimum is 50.000 SHIB. Earlier this month, Product Lead at Kraken, Brian Hoffman posted about SHIB, saying that the platform would add the asset if the community shows its support via likes. Although the mark of 2.000 likes was achieved, the listing came almost a month later.

After the news went public, the price of the SHIB token has increased, gaining around 21% in the last 24 hours. Currently, the token trades at around $0.00004791. It's the 11th largest crypto with over a $26.3 bln market cap.

Previously, another major crypto platform, Gemini started to support SHIB. Entering the market in August 2020, SHIB is a major meme coin and the main competitor of DOGE. Currently, the two tokens are close to each other by market cap. DOGE ranks 10th with $28.6 million.