Shiba Inu To Get Listed on Kraken Next After Gemini, Can it Help $SHIB Break Key Resistance?

By Prashant Jha
Published November 15, 2021 Updated November 15, 2021
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Shiba Inu To Get Listed on Kraken Next After Gemini, Can it Help $SHIB Break Key Resistance?

By Prashant Jha
Published November 15, 2021 Updated November 15, 2021

Kraken crypto exchange is once again hinting at a possible Shiba Inu ($SHIB) listing this week after tweeting about the same at the start of this month. Kraken’s lead Product Manager Brian Hoffman tweeted a Shiba Inu Gif with the heading “feeling good about this upcoming week.”

https://twitter.com/brianchoffman/status/1460046676949929992?s=20

Kraken crypto exchange’s official tweet on November 2 said that if that particular tweet gets over 2,000 likes the exchange would list Shiba Inu the next day. While the post got over 80K likes, there was no response from the platform for a couple of days, making many believe it was just a PR stunt. However, a couple of days later the crypto platform in a reply to the original tweet said that they have heard the $SHIB community and they have started the listing review process.

Kraken’s $SHIB listing hint comes just a couple of days after another major US crypto exchange Gemini listed Shiba Inu in a surprise move.  The crypto platform listed Shiba Inu along with several other tokens. Apart from these, major crypto exchanges Binance and Coinbase also added new trading pairs of $SHIB amid heightened demand.

Can Shiba Inu Pull Another October Like Rally?

Shiba Inu surged nearly 1000% in October hitting a new all-time-high (ATH) of $0.000089, before retracing to sub $0.00005 levels. $SHIB has been consolidating below the $0.000055 mark for nearly two weeks now. The Key resistance for the altcoin lies at the $0.00006 mark but before breaching that, the altcoin needs to solidify its position above $0.000055, breaching which it can again retest ATHs  The altcoin is currently trading at $0.00005262 with little to no gains over the past 24-hours.

Shiba Inu
Source: TradingView

Many believe the series of listing on major crypto exchanges could act as the possible catalyst for $SHIB to regain its bullish rally. While the $SHIB community was hoping for a Robinhood listing, but the trading platform has hinted they would not be listing the meme currency anytime soon. But, the surprise Gemini listing and a possible Kraken listing in the coming week has more than made up for Robinhood’s denial.

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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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