Kraken Announces Listing of Shiba Inu Deposits

Kraken, the well-known crypto exchange, recently announced listing Shiba Inu on the platform. The integration went live on November 30th, allowing users to place Shiba Inu orders. Currently, the deposits require 20 confirmations on the platform, which can change with time.

Kraken users can add Shiba Inu on the platform via the Funding section. They need to choose the asset and tap on the Deposit option. Read through to get more information about the integration, how it works, and pricing.

Kraken has currently placed a minimum deposit of 373,000 SHIB on the cryptocurrency exchange in Australia. Users can trade the coin against Euro and the US Dollar. The transaction also comes with a trading minimum of 50,000 Shiba Inu, a quantity accuracy of 5 decimal spots, and a price accuracy of 8 decimal spots.

Despite releasing as a meme coin following Dogecoin’s footsteps, SHIB (Shiba Inu) has come a long way. An anonymous developer called Ryoshi launched the Ethereum-based coin in 2020.

Their initial statement about the project responded to the question – What if there is a crypto project, which is 100% operated by the community?

Shiba Inu was quick to announce its limited supply of one quadrillion tokens. Out of which, the venture sent half to Vitalik Buterin, the Ethereum creator. Vitalik took a moral path and donated 1 billion dollars worth of tokens to Crypto COVID Relief Fund, India. The Ethereum creator burnt the remaining amount, estimated to be 40% of the total supply.

Now, the meme coin is debuting on another global stage. During the initial stage, Kraken will only offer Kraken Terminal and Kraken for SHIB. Functionalities like Margin Trading and Kraken Futures will not be accessible for a while.

Users should start trading with limited orders to gauge the market and execute a sensible trade.