Kraken Goes in Favor of Shiba Inu (SHIB) By Enlisting it on Its Platform

Just recently, Kraken made an announcement that took the entire cryptocurrency community by storm. Kraken, one of the largest digital asset exchanges in the world, based in the United States made an announcement related to Shiba Inu (SHIB).

Kraken recently announced that it is in the process of enlisting Shiba Inu (SHIB). The exchange has revealed that it is planning to enlist and launch the cryptocurrency on November 30, 2021.

This is a huge thing for Shiba Inu as it is going to help it make it back into the cryptocurrency market. It had been a while since SHIB had been performing badly in the cryptocurrency industry. Despite defeating Dogecoin (DOGE) back in September, SHIB soon lost its position as the largest meme coin.

However, getting enlisted through one of the oldest and largest exchanges has proven to be greatly in SHIB’s favor.

Prior to the enlisting of SHIB, Kraken revealed the plan it is going to follow for the enlistment of the meme coin. Kraken has announced what the minimum deposit requirements for SHIB would be.

The exchange has revealed that the minimum deposit requirement for SHIB would be worth around $16. This amount translates to around 373,000 SHIB. When it comes to the trading of SHIB, the Kraken users will be allowed to perform trades with a minimum of $2 worth of SHIB, translating to 50,000 SHIB.

Kraken has announced that in the initial run, it will let investors trade SHIB with two major fiat currencies. These fiat currencies would include Euro and USD that will be paired by SHIB.

Kraken has also made an announcement in regards to the Margin Trading and Kraken Futures. The exchange revealed that once the pair goes live, Margin Trading and Futures Trading won’t be available for the users.

Jonathon Miller, the managing director for Kraken Australia commented on the listing of Shiba Inu. He revealed that although the cryptocurrency is currently experiencing the worst bearish trend, it still has a lot of potentials.

Therefore, they have listened to the demand of their users and clients and have come to the conclusion of enlisting the asset. At present, even the largest cryptocurrency in the world “Binance” has enlisted Shiba Inu and as Kraken enlisted it on November 30, its price has surged.

In today’s cryptocurrency market and from TradingView data, it becomes clear that Kraken has indeed helped it grow in value and volume. In the past 24-hours, SHIB’s price has surged by 26.60% and at the time of writing, it is trading at a price of $0.00004934 per SHIB.