Shiba Inu to get listed on Kraken Before Robinhood, Here’s How it Can Impact $SHIB Price

By Prashant Jha
Published November 2, 2021 Updated November 2, 2021
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Shiba Inu to get listed on Kraken Before Robinhood, Here’s How it Can Impact $SHIB Price

By Prashant Jha
Published November 2, 2021 Updated November 2, 2021

Shiba Inu ($SHIB) is currently consolidating in the $0.00007-$0.000075 range, looking for another catalyst to rediscover the next bull rally. Many believe a Robinhood listing could the much-needed catalyst for Shiba Inu to rise to new all-time highs (ATH). Although there is no confirmation from the fintech trading app, another prominent crypto exchange has decided to list $SHIB amid its rising popularity. Kraken posted a tweet claiming if the post gets over 2K likes they would list $SHIB token

The tweet has garnered over 57K likes since it was posted more than 50K ahead of the required number of likes for the listing. However, the tweet was more of a marketing gimmick as the exchange as a 2K-like target was more than achievable given Shiba Inu’s strong social media hold. The exchange already gave other subtle hints earlier. Not just Kraken, even Binance announced a direct $SHIB/$DOGE pair to help traders easily move their money between the two meme currencies.

Shiba Inu became the ninth-largest cryptocurrency by market cap in October as it was among the biggest gainers, rising nearly 1,000% to eliminate a zero from its price. The mammoth rise came despite Elon Musk revealing he doesn’t hold any $SHIB and a massive dump of 31.04 billion tokens. Both these factors which otherwise would have tanked a meme token had little to no impact as $SHIB price as it overcame the price slumps within hours.

Will Shiba Inu ($SHIB) Surge Post Kraken Listing?

Shiba Inu is relatively a new token in the crypto market as it came into existence in 2020 and became popular only after Dogecoin’s mammoth rise in the first quarter of 2021. Being a meme currency, the price does respond to market news and a Kraken listing will definitely give it momentum as new traders join in from the crypto exchange.

$SHIB is currently trading at $0.00007038 with a 1% decline over the past 24-hours, however, its weekly gains still stand above 50%, thanks to its mammoth rise last week.

Shiba Inu
Source: TradingView
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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1277 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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