Kraken Adds Shiba Inu Coin (SHIB) Support

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Image of Shiba Inu (SHIB) logo next to the Kraken logo against a blurred ocean background with a sunset.

Cryptocurrency exchange Kraken will allow Shiba Inu trading from November 30, bringing to a close a lengthy SHIB listing process that began in early November.

"We’re thrilled to announce that Kraken now supports Shiba Inu (SHIB)," Kraken said in a blog post earlier today.

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SHIB deposits are now live on the exchange, with trading to begin from tomorrow via Kraken and Kraken Terminal.

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Kraken Keeps Its SHIB Promise

For existing SHIB owners wanting to deposit their tokens, the minimum deposit amount is 373,000 SHIB, Kraken said. Meanwhile, new and current SHIB owners can trade Shiba Inu from a minimum of 50,000 SHIB - worth around $2.

Shiba's volunteer project lead, Shytoshi Kusama, celebrated the listing on Twitter.

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Kraken first teased a SHIB listing on November 1, when it said it would list Shiba Inu the following day if its Twitter post reached 2000 likes. After smashing this goal (it currently has 83,700 likes), Kraken pulled back from its next-day listing, stating: "There’s more work for us to do as we move through our listing review process."

This prompted members of the ShibArmy to review-bomb the Kraken app.

Adoption from Kraken is yet another positive signal for SHIB, which is down 54% from its All-Time High of $0.00008616. SHIB spiked 4.6% after the announcement.

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However, all eyes will be on SHIB's price when trading on Kraken begins. Kraken has a reported six million users, offering the 1 million-strong ShibArmy plenty of room to expand. It joins the likes of Binance, Coinbase, Gemini and CoinDCX in supporting Shiba Inu.

After a successful listing on Kraken, the ShibArmy may once again turn its attention to Robinhood, which does not yet support SHIB. A petition asking Robinhood to add Shiba Inu now has over 500,000 signatures.

Read More: Want To Start A Shiba Inu Business? Redditor Shares SHIB Business Ideas

[Image: Shiba Inu/Kraken/Gatis Vilaks/Unsplash]