The Shiba Inu community has been eagerly waiting for a listing of the token on a major cryptocurrency exchange. After the listing of the token on Robinhood failed to pay off despite a petition collecting more than half a million signatures, it now seems like Kraken will soon list this token.
The head of product at Kraken, Brian Hoffman, has stated that the exchange could soon list the Shiba Inu cryptocurrency.
Kraken Could Soon List Shiba Inu
Hoffman hinted that Kraken could soon list the token. The tweet stated that he was “feeling good” about this coming week. He made the hint using a GIF with an image that contained a Shiba Inu dog typing on a laptop.
This is not the first time Kraken has announced that it would be listing the popular meme coin. The exchange had promised users that it would list the token on November 2 through a viral tweet. However, it failed to fulfill this promise.
As an explanation for its failure to list the token, Kraken stated that
“We simply said there’s more work for us to do as we move through our listing review process – which is very thorough. Community engagement is only one part of that process.”
The failure of SHIB to list on Kraken brought a lot of criticism towards the exchange, with the community stating that the exchange was using the news to boost engagement. However, it now seems like the exchange will go forward with this listing, which has ignited more hype among the SHIBA army.
Shiba Inu’s Listing on Major Exchanges
Shiba Inu attracted much attention in October because of the major gains it made during that month. During that month, the meme coin reached an all-time high of $0.000086 but has since shed some of those gains to resume trading at around $0.000052.
Because of the latest gains, exchanges have been listing this token to boost user engagement. Gemini, one of the largest exchange platforms with a high compliance rate, has already listed the meme coin. The coin is already listed on top cryptocurrency exchanges, including Binance US and Coinbase.
One of the exchanges that also made hints of listing Shiba Inu is Robinhood. Robinhood is one of the highly popular exchanges with meme coins, as the majority of Q2 revenues came from Dogecoin trading. However, it seems like SHIB will not be listing on the exchange any time soon due to the recent remarks by its Chief Operating Officer of the exchange, Christine Brown.
Brown stated that the listing of Shiba Inu on the exchange was not urgent. Moreover, she stated that the meme coin’s listing would be up to the community because the platform was focused on listing tokens that were not highly volatile or those that violated regulatory compliance.
Brown also noted that the listing of tokens on Robinhood was done to focus on the long-term gains of the token and not on the short-term benefits.
With all of these developments, it still appears as if Shiba Inu is attracting whales. Moreover, the coin is yet to attract much selling pressure because it has held the $0.000052 levels for over a week. The slump of SHIB from the highs of over $0.00007 was caused by a whale account that turned $8000 to $2.5 billion.
The SHIB community has speculated this account to be dormant due to inactivity for over a year, but after it started moving tokens, it created panic hence the fall to the current levels.