The infamous Shiba Inu meme coin is in the spotlight again after landing a listing on the massive crypto exchange Kraken. Covered: Shiba Inu Price Update SHIB Kraken Exchange Listing  Future Shiba Inu Prospects RECOMMENDED: PUBLICLY LISTED CRYPTO COMPANY BUYS A TON OF SHIB Shiba Inu is back in the crypto conversation now that Kraken […] The post Shiba Inu Pumps Following Kraken Exchange Listing — Next Steps For The DOGE Killer appeared first on CryptosRus.

Shiba Inu Pumps Following Kraken Exchange Listing — Next Steps For The DOGE Killer

The infamous Shiba Inu meme coin is in the spotlight again after landing a listing on the massive crypto exchange Kraken.

Covered:

  • Shiba Inu Price Update
  • SHIB Kraken Exchange Listing 
  • Future Shiba Inu Prospects

RECOMMENDED: PUBLICLY LISTED CRYPTO COMPANY BUYS A TON OF SHIB

Shiba Inu is back in the crypto conversation now that Kraken has listed the token on its exchange. Is the SHIB hype over or are there future catalysts coming to drive meme tokens to even greater heights?

Shiba Inu Price Update

Shiba Inu (SHIB) has had a volatile past few weeks since the beginning of October. Following the token’s initial parabolic rise, Shiba Inu climbed to even greater heights, topping out at $??0.00008616, with a market cap over $41 billion, before reversing into a steady grind downwards.


At the time of writing, SHIB has pumped up more than 20% from its local lows, trading at $0.00004716, with a market cap just under $26 billion. After struggling to find a bottom, SHIB looks to be reversing on a support level dating back to its previous high from this June. The relative strength index (RSI), which measures the overbought and oversold conditions of an asset, is revisiting levels that SHIB spent time in just prior to its massive spike in October.

SHIB Kraken Exchange Listing

The recent price jump may be attributed to the major cryptocurrency exchange Kraken, which decided to officially list the token for trading today.

Kraken is one of the largest crypto exchanges out there. Based in the US, the exchange was founded in 2011 by Jesse Powell. The exchange has been teasing at following in the footsteps of Coinbase, which recently took its company public in April of this year. Kraken wants to go public as well, but there is no confirmed timeline to expect when that may happen.

RECOMMENDED: WHAT IS SHIBA INU?

Future Shiba Inu Prospects

Despite SHIB’s meme coin status, the project has a team that is actively developing on the platform in hopes to compete with the name-brand meme crypto – Dogecoin. SHIB has successfully competed with the top dog by offering decentralized financial products and services, such as token swapping and staking, that are yet to be found on the DOGE blockchain.

Following the token’s recent ascent, more and more investors are calling for the major traditional stock exchange Robinhood to list Shiba Inu on its platform. While there are no guarantees, a move by Robinhood to list SHIB shouldn’t come as a surprise, as DOGE was responsible for 34% of the exchange’s crypto revenue in Q1 of this year.

AMC movie theater president Adam Aron announced recently that SHIB could also become a future payment option at the movie theater, following the theater’s move to accept Bitcoin (BTC) and DOGE as forms of payment.

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