Kraken Lists Shiba Inu Coin One Month After Crypto Exchange Announced The Move On Twitter | Currency News | Financial and business news

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Shina Inu dog.

AP Photo / Shizuo Kambayashi

Kraken lists the shiba inu coin nearly a month after the cryptocurrency exchange teased the move on Twitter only to fail immediately after.

In a blog post posted on Monday, Kraken said trading would launch on November 30, when it would allow the entry and execution of orders.

The coin will be exchangeable for the US dollar and the euro with a minimum of 50,000 shiba inu (approximately $ 2.10 if multiplied by Monday’s price of $ 0.0004217).

It will also have a price precision of 8 decimal places and a quantity precision of 5 decimal places, the exchange said in the mail.

Kraken has yet to respond to Insider’s request for comment.

The move comes as no complete surprise, especially after the San Francisco-based crypto exchange on November 1 teased Twitter users about the possibility of listing the Ethereum-based asset.

Via its official Twitter account, Kraken said if the tweet got 2,000 likes, it would list the coin the next day. He added: “SHIBArmy where are you?”

Within minutes of posting, Kraken’s post easily accomplished this, as Insider previously reported. The next day, the post had exceeded the target and garnered nearly 60,000 likes.

Despite this, Kraken said in a Twitter thread that he ultimately decided not to list the coin. “We still have work to do as we move forward with our list review process,” said the crypto exchange, founded in 2011.

The Shiba Inu community, known to be united and vocal, was not happy. Some questioned why the exchange would make a pledge it didn’t intend to honor in the first place, while others threatened to delete their Kraken accounts.

Monday’s Kraken move coincided with the growing list of crypto exchanges in listing the new coin amid increased demand from retail investors.

Gemini and Public listed shiba inu earlier this month. Coinbase, the largest crypto exchange in the United States, listed the dogecoin killer in September. Crypto.com listed shiba inu in May, while eToro listed it in July.

But Robinhood still hasn’t, claiming he’s taking a more cautious approach.

Shiba inu’s mind-blowing rally has propelled it to become the 12th largest cryptocurrency by market valuation, according to CoinMarketCap, after being established only in August 2020. It has gained nearly 54,310,000% since the start of the market. year versus a 100% rise in bitcoin, the largest crypto in market value.

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