Crypto Exchange Kraken to List Shiba Inu, Fulfilling Nov. 1 Twitter Promise as SHIB’s Fortunes Fall

The announcement gave SHIB a price surge after a dismal November.

Nov 29, 2021 at 7:55 p.m. UTC
Updated Nov 29, 2021 at 8:19 p.m. UTC

Cryptocurrency exchange Kraken will support the popular, Ethereum-based memecoin shiba inu (SHIB), which is expected to begin trading Tuesday, the company said in a blog post on its website Monday.

  • The announcement comes less than a month after Kraken failed to fulfill a promise in listing SHIB after its crypto platform product lead Brian Hoffman issued a Twitter “likes” challenge. Following an uproar among SHIB supporters, the company said there was “more work” to do as it moved through its token listing review process.
  • Kraken said Monday the minimum, required deposit is 373,000 SHIB, and that the coin will be tradable against the U.S. dollar and euro, with a trading minimum of 50,000 SHIB.
  • SHIB margin and futures trading will not be available for investors, the exchange said.
  • SHIB jumped over 16% at one point Monday as the broader cryptocurrency market continued to rally following Friday’s sell-off.

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Michael Bellusci is CoinDesk's crypto payments reporter.