Hopes for Shiba Inu (SHIB) to Gain Momentum After Potential Kraken Listing

The second tease after the first suggestive tweet from Kraken earlier this month is finally here.

Kraken exchange has once again been teasing about the potential listing of Shiba Inu (SHIB) for the second time in November. Brian Hoffman, the lead product manager at Kraken tweeted “Feeling good about this upcoming week”, accompanied by a gif of Shiba Inu.

The since-deleted tweet was second to the first tweet which instigated that if the official tweet posted by the Kraken exchange were to get 2,000 likes, Shiba Inu (SHIB) would be listed on the exchange immediately on the following day. The cryptocurrency was not listed despite the post gaining some 80,000 likes, which made the crypto community suspicious of the weight of that statement. Nonetheless, after the wondering of the crypto community, Kraken said that Shiba Inu (SHIB) is being reviewed for listing.

Kraken’s Shiba Inu (SHIB) listing suggestion comes only days after Gemini, the large US crypto exchange, unexpectedly listed Shiba Inu (SHIB). Shiba Inu (SHIB) was listed alongside numerous other coins on the cryptocurrency exchange. Aside from this, leading crypto exchanges Binance and Coinbase established new Shiba Inu (SHIB) trading pairs in response to increased demand from users.

Shiba Inu (SHIB) soared nearly 1000% last month, reaching $0.000089 and setting a new all-time high. Nonetheless, it reverted soon thereafter to $0.00005, and it has been holding under the $0.000055 level for a couple of weeks now. While the Shiba Inu (SHIB) key resistance stands at $0.00006, the cryptocurrency should go higher than the current trading price of  $0.000055, after which it can be primed to revisit previous highs and rebound from the dive. After incurring virtually no gains in the past 24 hours, at present, Shiba Inu (SHIB) is trading at $0.00005262.

The crypto community believes the succession of listings on major crypto exchanges will serve as a boost for Shiba Inu (SHIB) to resume its positive trend. Though the Shiba Inu (SHIB) backers were hopeful of a possible Robinhood listing, they were turned down cold by the platform by saying that the near future does not include plans for listing Shiba Inu (SHIB). Nonetheless, the surprise listing on Gemini and the potential Kraken listing have already made up for the rejection of Robinhood. 

Also read: Pew Research Center: More than 16% of US Citizens have Invested in Cryptocurrencies