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:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/QXD3MWCJ6JHZTJXDNJTN7UMZYE.jpeg)
A Shiba inu, the dog breed that inspired both DOGE and SHIB, is getting a ride in cryptocurrency markets.
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 reporter focused on public companies and digital asset firms.
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