June 29, 2022

Kraken Adds Support For Shiba Inu (SHIB)

Kraken (a crypto exchange) has stated to include the token named Shiba Inu (SHIB) in the list, as per a tweet. No update has yet been given to provide details about the move. As per this step, more liquidity would be provided to SHIB, offering a double-edged blade for the respective token. The crypto exchange mentioned that it would incorporate the asset into the list thereof in case it attains up to 2,000 likes.

Being much confident, the tweet won the hearts of about 53 000 consumers, and they liked it, which would be assisting in the method of listing. As per the tweet, Brian Hoffman (the Lead of Kraken Product) initially mentioned, the challenges in complete impartiality never seemed to be as it would turn into a problem.

The vast-scaled listings of SHIB

The SHIB token should have the ability to get listed, even after providing additional fuel to a token, having witnessed quick price jumps during the last week. During 2021’s October, the market capitalization of the parallel meme token named Dogecoin (DOGE) in the market has been crossed by SHIB, and both of the cryptos are currently considered among the prominent 10 in terms of market capitalization. The market cap of Shiba Inu is more than $38B, in comparison with Dogecoin’s $35B.

The token Shiba Inu has turned out to be a legend across the circles of crypto, with having a novel history. Its latest all-time-high consisted of the result of the aggressive trading throughout the market during the recent months. Occasionally, such jumps in the price seem to be the wide-scale consequences of the popular individuals’ voice regarding the asset, such as Elon Musk. An anonymous developer’s creation, SHIB, possesses a supply counting up to one quadrillion. SHIB tokens having billions’ value were sent to Vitalik Buterin. Nevertheless, he burnt their 90% and donated the remaining to charity.

Meme tokens and their supposed stay in the market

Shiba Inu counts as a newcomer. However, it is continuously growing with great vigor. The apprehension is that the actual valuation will be overlooked by the investors, and consequently, they will just buy to increase the price of the token. Edward Snowden spoke a warning confronting the meme tokens while stating that some comprehensive losses will be experienced by those purchasing them.