Kraken, one of the leading global crypto exchanges finally added Shiba Inu (SHIB) support on its platform earlier today. The SHIB listing comes after nearly a month of teasing from the platform and trading will go live on November 30. The listing announcement had an immediate effect on the altcoin’s price as SHIB jumped 30% to register a new two-week high above $0.000050.
— Kraken Exchange (@krakenfx) November 29, 2021
SHIB will be paired against USD and EUR to start with and a minimum of 50,000 SHIB would be required to make a trade on Kraken. The crypto exchange also confirmed that Kraken and Kraken Terminal will be available for the meme currency while Futures and Margin Trading will be restricted at launch.
November has proven to be quite bearish for Shiba Inu as it lost more than 50% of its valuation from its all-time high of $0.0000885 in October. Despite the continuous price decline, the SHIB community has been focused on building the ecosystem. Shiba Inu team recently announced its Metaverse aspiration with the launch of its gaming venture. The team on-boarded William Volk, former VP of tech at Activision to help it develop its Play-To-Earn NFT games.
ITS TIME #SHIBARMY Meet Shiba Inu Games' consultant William Volk (FORMER VP OF TECH AT ACTIVISION), (.@william_volk )🤯, .@Newegg #CyberMonday🤑, my take on the FBI "Metaverse" (FaceBook Inc) 😮💨, & the future of gaming in THIS medium! LFGGGGGGG! https://t.co/F0t5x5PhQ2
— Shytoshi Kusama™ (@ShytoshiKusama) November 26, 2021
Can Shiba Inu (SHIB) Price Bounce Back?
Shiba Inu had a record October where its price surged nearly 1,000% helping it make it to top-10 in the crypto ranking and also take over Dogecoin (DOGE). However, November proved to be quite a contrast in terms of price behavior for SHIB despite a growing ecosystem. Shiba Inu reached 1 million active wallet addresses last week and Whales continued to hodl more SHIB.
SHIB’s price was trading at $0.00004811 at the time of writing and currently looking to conquer the $0.00005 mark. The altcoin has also broken out of the downward channel on the long-term one-day chart, which indicates the bulls are finally back after 4 weeks of bearish dominance. Shiba Inu needs to breach the key resistance of $0.000066 before it could retest its last month’s ATH.
- OpenSea’s Meteoric Rise May Trigger An Ethereum Crash, Here’s Why
- Breaking: JPMorgan Closes Uniswap (UNI) Founder’s Accounts
- UBS Warns Of Apocalyptic Crypto Winter And The Cryptocurrency Prices Are Poised To Crash
- SOL Tanks 6% As Solana Faces Another 48 Hour Outage, Boom and Bust Moment for Solana?
- Fantom (FTM) Surpasses Avalanche and Solana as DeFi TVL Crosses $12 Billion
- Buy The Dip Survey Shows 61% Of Chinese Bitcoin Investors Still Willing To Bet On Bitcoin
- Mike Novogratz Bets To Pay Peter Schiff $1 M If Bitcoin Price Stays Below $35,000 After 2022
- “At Some Point There’ll Be A Flash Crash” Says Gold Bull Peter Schiff
- Binance And FTX Worst Hit Exchanges As Losses Climb Almost Two Billion Combined
- Bitcoin S2F Founder says Current dip cannot stop Bitcoin from Adding Another Zero
- Solana Creeps Higher, Looks To Revisit January Highs AT $177.0
- Ethereum Price Analysis: Fibonacci Retracement level 0.618 Triggers Recovery Rally In ETH Coin
- BTC Price Analysis: Death Crossover Brings Nightmares On Satoshi Street; Is This A Buying Opportunity?
- Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
- DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
- Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
- SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
- LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
- Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
- Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?