The cute Shiba Inu puppy bit the bloodthirsty Kraken and hopefully infected him.
Kraken, the eighth largest cryptocurrency exchange in the world according to Coingecko, today announced that it will begin supporting the trade of Shiba Inu (SHIB), a Dogecoin-inspired cryptocurrency that gained popularity after the token boom even during COVID-19 containment.
Trade Shiba Inu on Kraken… NOW!
The exchange doesn’t want to wait another second for its users to start playing with the token, and its Twitter ad shows it clearly, in all caps, exclamation marks and all:
New announcement on Kraken: @Shibtoken ??$ SHIB deposits start NOW! Trading is live on November 30.
➡️ Find out more: https://t.co/yUUKaBXKBq pic.twitter.com/L2IUHugyG0
– Kraken Exchange (@krakenfx) November 29, 2021
Kraken can read its user base. The decision to include Shiba Inu was probably the most popular listing on the platform. The ad received 41.2,000 likes in a single day and just over 16.4,000 retweets.
This makes it the second most popular tweet on the crypto exchange, only beaten by a challenge in which the community management team committed to listing Shiba Inu if their tweet exceeded, uh, 2,000 likes.
They beat 80,000 likes in 24 hours.
Following the success of the tweet, the exchange lived up to its word – at least in part. The team assured that they would take interaction into account, although they did warn that the registration processes were lengthy.
They didn’t list it right away, but today’s announcement shows that they haven’t let the community down either. According to an official blog post, Kraken and Kraken Terminal will be available for Shiba Inu, but not futures and margin contracts.
It will only be traded for USD and EUR.
$ SHIB bounces, but is it enough?
The price of Shiba Inu reacted strongly, also driven by a rally in Bitcoin.
SHIB rose more than 15% on the daily candlestick from $ 0.00004522 to a high of $ 0.00004573, breaking EMA 20 resistance which marked the top of a downtrend that started after its ATH on October 28 and was confirmed on the charts on November 16.
Currently, Shiba Inu is trying to consolidate a trend reversal and is aiming for a possible recovery. And, today’s candlestick – currently forming – seems to indicate a little bullish sentiment among traders.
At the time of writing, Shiba Inu has a price of $ 0.00004894, which is already up 8% since the daily candlestick opened.
However, the real activity starts in a few hours as Kraken gets more cash in the token. The resistance is also getting flatter and flatter, indicating a slowing in the token’s decline, which is generally a good sign for holders.
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