Kraken Adds Support For SHIB

The eighth biggest crypto exchange around the world per Coingeko, Kraken, declared to initiate its support for the trade of SHIB (Shiba Inu), a crypto token that has taken inspiration from Dogecoin and acquired much fame following the success of meme tokens in the time of lockdown during COVID-19.

Shiba Inu, to be listed on Kraken

The respective exchange is not willing to delay even a second for the consumers thereof would begin messing around for the token, thus it has clearly announced the news through its official account on Twitter. Kraken is mindful of the userbase thereof. The choice of incorporating Shiba Inu is considered to be the most prominent listing of the exchange during its operations up till now.

The declaration was responded with up to 41.2K likes during just one day only for 16.4K Retweets. This counts as the exchange’s second prominent most tweet which is just beaten by its Community Management group’s challenge after which it promised to list the token and that was the 2,000 likes to be earned by their respective tweet.

During 24 hours, nearly 80,000 likes were secured by the post. After the success of the tweet, Kraken kept the word thereof, at least partially. The group guaranteed to have interaction through the account, though they cautioned that the processes of listing are time taking. They did not straightly list the token.

Nonetheless, the latest declaration implies that they did not disappoint the community. As per an exclusive blog post, Kraken Terminal and Kraken will provide Shiba Inu access without futures or Margin Trading. The token will just be traded against EUR and USD.

$SHIB Reacts

Shiba Inu’s value surged significantly after this development. The regular valuation of SHIB rose to more than 15% which was previously at $0.00004522 and now it is at $0.00004573 (which is a high thereof) breaking the downward trend that began following its 28th October’s ATH. Presently, the token is struggling to handle the trend reversal and target the potential recovery.

Today’s regular valuation of the coin appears to be around a point that signifies its relatively bullish behavior among the traders thereof. The current price of $SHIB is almost $0.00004894 being in advance 8% higher than the opening of its today’s operations. The liquidity of the token is increasing along with a gradual slowdown witnessed in the decline of the token.