Shiba Inu Nears Kraken Listing

Shiba Inu is about to be listed on Kraken, one of the largest cryptocurrency exchanges in the world. Kraken is reportedly ready to list the token on Tuesday. Kraken made this announcement via Twitter on Monday. The announcement was made in an unconventional way on Twitter. Head of Kraken Product team, Brian Hoffman, is reported to have challenged his followers to give at least 2,000 likes to the post and Kraken would list $SHIB.

The tweet was made via the official Kraken handle and Hoffman was tagged. Within a few minutes, the post got more than the stated 2,000 likes; it has hit over 31,500 likes as of press time and from all indications, Kraken is now set to list the token. The Kraken community on Twitter has expressed its joy at the upcoming listing. Some users have even asked if and when Kraken would list FLOKI. Kraken is now set to list $SHIB on Tuesday, November 2, 2021.

The Rise of Shiba Inu

Shiba Inu is arguably the hottest meme coin in the industry right now. Shiba Inu was listed on Coinbase in September; at the time, analysts predicted that a bullish run was in the making. Since then, Shiba Inu has done over 1200% in bullish moves and currently trades at $0.00007. It sits at number 9 on Coinmarketcap and has been predicted to do more in profits.

Dubbed “the doge killer”, Shiba has now gained the attention of other exchanges; its trading volume is now $38,764,989,317 with a 24H trading volume of about $8.8 million. Traders on robinhood, another popular cryptocurrency exchange, have called for the platform to list Shiba Inu. As of press time, 457,050 have signed the petition. If Kraken lists Shib tomorrow, it would join the growing list of exchanges that have listed the token including Binance and OKex.

What is The Future of Shiba Inu?

Although dubbed “the doge killer” because it has outperformed doge in recent times. The token has also shrugged off the negative impact of comments regarding its future and has now emerged as one of the leading altcoins. As per use cases, SHIB’s stunning rise that saw it gain 777% in just one month says a  lot about the public opinion of it. Shiba Inu’s rival, Dogecoin, has now achieved some successes after top movie company, AMC said it would begin to receive payments in Doge.

Dogecoin still remains the preferred cryptocurrency in the US, but it won’t be long before Shiba Inu joins that list if it keeps the momentum. Analysts have predicted that at its current bullish rate, Shiba Inu could hit at least $0.05 by the end of 2021; some have predicted $1. But if the token grows at a monthly 20% rate, it could take 5 years to hit the latter prediction. As the altseason prepares for a consolidatory move, investors will be looking to secure profits and fund buying opportunities.