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Cryptocurrency exchange Kraken has announced support for Shiba Inu (SHIB), a Dogecoin-inspired token. Deposits are now live and trading for SHIB will commence from Tuesday.
Crypto Exchange Kraken Announces Support for Shiba Inu
Crypto exchange Kraken announced on Monday that Shiba Inu (SHIB) deposits are now live and trading will commence from today. The meme-based token will be tradable against USD and EUR but futures and margin trading will not. The minimum required deposit is 373,000 SHIB with a trading minimum of 50,000 SHIB.
The announcement comes less than a month after Kraken hinted at the possibility of adding Shiba Inu on its platform on November 1. In a tweet, the exchange said that if it accumulates 2,000 likes, the firm will list SHIB the next day. The tweet gathered over 45,000 likes within 24 hours but Kraken failed to deliver on its promise the following day.
At the time, the crypto exchange clarified that there was “more work” to do for its listing review process.
“Community is an important part of our considerations for all listings, and you have clearly shown your support. There’s more work for us to do as we move through our listing review process.”
Major Exchanges Rush for SHIB Listing
Earlier this month, the Binance crypto exchange announced that it would open trading for SHIB/DOGE trading pairs. In the same month, Gemini and Public listed Shiba Inu on their trading platforms. Coinbase, the largest US-based crypto exchange listed SHIB in September while Crypto.com listed the token in May and eToro in July.
Meanwhile, supporters of Shiba Inu are still petitioning for the Robinhood trading platform to list SHIB. At the time of writing, the petition has garnered more than 540,000 signatures. However, Robinhood recently said that there is no hurry to list additional cryptocurrencies.
At the time of writing, Shiba Inu is trading $0.00004734 after seeing its value increase by nearly 20% over the last 24 hours following Kraken's announcement.