Shiba Inu is about to be listed on Kraken. The exchange asked its users if they wanted the token to be listed as a trading pair, and the users responded with a clear preference.
Summary
Kraken’s tweet that unleashed the Shiba Inu army
The idea of listing Shiba Inu today on Kraken started with a tweet:
🐶♥️🐶♥️🐶♥️🐶♥️🐶@brianchoffman said if we get 2,000 likes we will list $SHIB tomorrow – but he doesn't think we can do it.#SHIBArmy where you at?
👇 👇 👇
💬 🔁 ♥️— Kraken Exchange (@krakenfx) November 1, 2021
Brian Offman is Kraken’s lead product. He asked for just 2,000 interactions to list the token considered the Dogecoin Killer.
At the time of writing this article, there are 14,000 retweets, 1,000 quote tweets, and 56,000 likes. The 2,000 like threshold has been far exceeded.
The price of SHIB
Shiba Inu has had a great week, culminating in a record high of $0.00008845 in recent days. Since that peak, SHIB has been retreating, losing 20%. Even today, Shiba Inu is in the negative, posting -2%. At the time of writing this piece, SHIB is worth $0.00007044.
But the vertical rise of the past few weeks has increased interest in the Dogecoin killer, which has just managed to overtake DOGE in ninth place among the most capitalized cryptocurrencies.
Fears and enthusiasm
Meanwhile, the army of Shiba Inu lovers wants to see it listed everywhere. A petition has been started to see SHIB listed on Robinhood. In fact, the popular trading app itself said that the other meme coin, DOGE, was the one that contributed the most revenue from crypto exchanges. In short, Robinhood seems like fertile ground. But at the moment it doesn’t look like SHIB will be listed.
There are also those who are sounding the alarm regarding the umpteenth memecoin with the muzzle of a dog.
The first to distance himself was Elon Musk, who admitted that he had no SHIB tokens.
Edward Snowden also wanted to clarify his position with a series of tweets:
“I say this with love: if you got talked into exchanging your hard-earned savings for some new dog money because a meme said you’d get rich, please carefully consider your odds of outsmarting a market that sold to you its stake in not even dog money but a CLONE of dog money”.
He added:
“Also if you are mad at this tweet you probably need to reduce your position size”.
Although it has never been named, it is impossible not to detect a reference to Shiba Inu in these words.
Shiba Inu is proving to be a highly speculative token. And like all speculative tokens, big rises can be followed by equally sudden falls, as evidenced by the -20% fall in just a few days.
As crypto-investor Lark Davis said, Shiba Inu fans should have no illusions. Shiba will not be worth a penny, let alone a dollar.
For this prediction to be disproved, Shiba fans would have to hope for a 1,000-fold or more growth. Given the rally that has just taken place, this seems unlikely to happen again.
But the crypto market can be very unpredictable and who knows whether a speculative token born to emulate another, which itself was created as a joke, will not end up surprising even the most knowledgeable.
