2 days after Kraken listed Shiba Inu for trades, the meme coin notch over 30%

    The phenomenal meme coin surges up in price after receiving support from Kraken, the eighth largest cryptocurrency exchange in the world.

    Shiba Inu, a Dogecoin-inspired meme cryptocurrency, has once again rocked the crypto market with another achievement. Last week, this coin gained 1M users, and in the new weekly session, its price climbed by over 30% week-to-date. 

    The reason for Shiba Inu’s upside move was Kraken, a United States-based cryptocurrency exchange. This Monday, Kraken announced it would effectively enable SHIB trading on its platform from Nov. 30. However, to make things clear, Kraken clarified that it would not offer SHIB futures and margin trading services.

    With this special support, SHIB’s price reached $0.00005155 Tuesday after bouncing from its technical support near $0.00003560 at the beginning of this week. 

    Additionally, at the beginning of this week, Shiba Inu received bullish cues from a broader recovery across the top digital assets, including Bitcoin (BTC) and Ether (ETH). These rebounds signaled a shift in trend, especially after the last gloomy week because of the new COVID-19 strain. Resistance is also getting flattered, indicating a slowdown in the token’s decline, which is usually a good sign for investors.

    2-days-after-kraken-listed-shiba-inu-for-trades-the-meme-coin-notch-over-30 1
    SHIB/USDT and BTC/USD on a daily price chart (Source: TradingView)

    As for Kraken, this exchange also received some positive news from this cooperation, especially from social media. The decision to include Shiba Inu has probably been the Platform’s most popular listing. On Twitter only, the announcement got 41.2K likes in a single day and just over 16.4K Retweets. This makes it the second most popular tweet of all crypto exchanges, only beaten by a challenge in which the Community Management team pledged to list Shiba Inu if their tweet got over, erm, 2,000 likes.

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