on the crypto
Kraken, the eighth largest cryptocurrency exchange in the world according to Coingecko, has announced that it will begin supporting trading of Shiba Inu (SHIB), a Dogecoin-inspired cryptocurrency that has gained a lot of popularity following the meme token boom during the blockade. COVID-19.
Trade Shiba Inu on Kraken… NOW!
The exchange doesn't want to wait another second for its users to start invest with the token and his Twitter ad he makes it clear, capitalized, exclamation points and all:
New listing on Kraken: @Shibtoken 🐶 $ SHIB deposits start NOW! Trading is active on November 30th.
Kraken can read its user base. The decision to include Shiba Inu was arguably the platform's most popular list. The ad got 41,2K Likes in a single day and just over 16,4K Retweets.
This makes it the second most popular tweet of the cryptocurrency exchange, only beaten by a challenge in which the Community Management team pledged to list Shiba Inu if their tweet surpassed, ahem, 2.000 likes.
80.000 likes in 24 hours
After the success of the tweet, the exchange kept its word, at least in part. The team ensured that they would take the interaction into account, although they warned that the listing processes are lengthy.
They didn't list it right away, but today's announcement shows they haven't disappointed the community either. According to an official blog post, Kraken and Kraken Terminal will be available for Shiba Inu, but not futures and margin trading. It will only be traded against USD and EUR.
SHIB bounces, but is it enough?
Shiba Inu's price reacted strongly, also driven by a Bitcoin rally.
SHIB rose more than 15% on the daily candle, rising from $ 0,00004522 to a high of $ 0,00004573, breaking above the 20 EMA resistance which marked the top of a bearish trend that started after its ATH on October 28 and confirmed on the charts on November 16th.
Currently, Shiba Inu is looking to consolidate a turnaround and aim for a possible recovery. And today's candle, currently forming, seems to indicate some bullish sentiment among traders.
At the time of writing, Shiba Inu is priced at $ 0,00005051, which has already risen 10% since the daily candle opened.
However, the real activity starts in a few hours as Kraken gets more liquidity in the token. Resistance is also becoming increasingly flat, indicating a slowdown in the token's decline, which is usually a good sign for holders.
