Shiba Inu price climbs 25% after Kraken listing announcement

American cryptocurrency exchange Kraken announced the listing of meme token Shiba Inu (SHIB). The asset’s price rose by about 25%.

The platform opened deposits with a minimum size of 373 000 SHIB. Trading is scheduled to begin on November 30, 2021, in USD and EUR pairs. Margin trading will not be available initially.

At the time of the announcement, Shiba Inu traded around $0,0004 and a few hours later reached $0,00052. After a correction, the token continued trading around $0,00049 — about 45% below its all-time high, recorded on October 28, 2021.

On November 1, the exchange appealed to the coin’s supporters on Twitter:

“Brian Hoffman [Head of Product] said that if this tweet gets 2,000 likes, we will list SHIB tomorrow — but he doesn’t think you can do it.”

The post amassed 18,749 retweets and 83,742 likes.

The Kraken team said it had “clearly heard the Shiba Inu army,” but warned that the process of adding the asset to the platform would take time.

Edward Snowden explained why he has a dim view of dog-themed tokens such as Dogecoin or Shiba Inu.

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