Tuesday, August 16, 2022

Shiba Inu gains over 30% after Kraken announces to list the meme coin.

The Takeaway:

Shiba Inu emerged as one of the best performers amongst all cryptocurrencies entering the new weekly session as its price climbed by over 30% week-to-date.

Shiba Inu (SHIB), a Dogecoin-inspired meme cryptocurrency, emerged as one of the best performers across traditional and crypto markets entering the new weekly session as its price climbed by over 30% week-to-date. SHIB’s price reached $0.00005155 Tuesday after bouncing from its technical support near $0.00003560 at the beginning of this week. Earlier, the majority of altcoins suffered a plunge induced by concerns related to the new Covid19 strain, dubbed Omicron.


Kraken announces to list Shiba Inu on its platform.

At the core of Shiba Inu’s upside retracement was Kraken, a U.S.-based cryptocurrency exchange that announced Monday that it would effectively enable SHIB trading on its platform from Nov. 30. However, Kraken clarified that it would not offer SHIB futures and margin trading services. The cryptocurrency received bullish cues from a broader recovery across top cryptocurrencies, including Bitcoin and Ether. Bitcoin rallied by more than $3,000 from its Nov. 26 low near $53,500 — the day the Omicron variant caused turbulence across the traditional and crypto markets.


The minimum deposit is 373K SHIB.

Kraken explained that SHIB deposits require 20 confirmations, which it estimates to be about five minutes. The minimum deposit is 373K SHIB. The price of SHIB jumped more than 13% from the $0.00003899 level prior to Kraken’s announcement to $0.00004422 at the time of writing. Shiba Inu crypto investors have been waiting almost a month for Kraken to come through on its promise to list SHIB. The exchange tweeted on Nov. 1 that if its tweet gets 2K likes, the platform will list SHIB the next day. SHIB supporters delivered more than 45K likes within the time frame given. 

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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