TL;DR Breakdown
- Kraken didn’t list Shiba Inu on their platform on Tuesday, as promised by their earlier tweet.
- The SHIB community has expressed outrage against the exchange platform on social media.
- The Kraken support team has indicated that they’re working hard on listing SHIB soon.
Shiba Inu has been the most talked-about cryptocurrency on social media for the past week. Popular crypto exchange Kraken tried to join the hype on Monday by tweeting that they would list SHIB if the tweet received 2,000 likes.
Unsurprisingly, the tweet received over 7K likes in less than 24 hours, and over 18K retweets. However, since then, Kraken seems to have turned its backs on the Shiba Inu community, saying that there’s more work to be done for its listing review process.
Why is the Kraken listing important for Shiba Inu?
Historically, altcoin prices have always shown an upward trend whenever they’re listed on popular exchanges. Kraken is the 4th largest cryptocurrency exchange in the world by trading volumes. This global exchange platform has more than 6 million traders.
So, being listed on Kraken means more customers worldwide will have access to SHIB trading, which will significantly impact its trading volume and market cap. That’s why Shiba Inu holders were eagerly waiting for the Kraken listing on Tuesday, with hopes that it’ll push the trending meme coin towards that $0.0001 milestone.
Previously the SHIB community was pushing for the coin to be listed on Robinhood. The popular US exchange launched a survey in mid-October asking investors about which coins they were holding. To everyone’s surprise, Shiba Inu was one of the listed options. Since then, there has been growing speculation that Robinhood might list SHIB.
But it’s safe to say that the Robinhood hype was quickly sidelined by Kraken’s ‘false’ promise. Holders were anticipating that the listing will take place on Tuesday UTC at 22:00, as Kraken was scheduled for a website maintenance update at that time. However, when the dust settled and the new upgrade went live, there was no Shiba Inu on the Kraken exchange platform.
The popular meme coins jaw-dropping growth of 670% in the last 30 days, has attracted thousands of new investors in the crypto market. The SHIB community is growing by the minute. The popular Shiba Inu active investors group on Facebook currently has almost 200K members.
So, when Kraken didn’t live up to its promise, this growing community turned into a raging mob and blasted Kraken on social media.
When will Kraken list SHIB?
Although Kraken didn’t go live with the Shiba Inu listing on Tuesday, the company did give some hope that it’s working towards listing the popular meme coin on its platform soon.
To get a better insight into the issue, Cryptopolitan Journalists contacted Kraken support via live chat. We received rather ‘diverse’ responses from their support team.
Some of the support team members just sent us the exact same text from Kraken’s official Twitter statement. However, other support members replied that they’re working hard on listing SHIB soon.
Also, a lot of other community members received different responses from the Kraken support team, none of them however had a specific date or timeframe. So, it’s highly likely that we’re going to see Kraken list Shiba Inu, maybe even before other exchanges like Robinhood. But we still can’t predict how soon that might be.
With all the hype and craze around Shiba Inu, a lot of rumors and fake news is circulating around social media. We advise investors to only make investment decisions based on verified news and official statements. As with all crypto investments, experts advise not to invest more than 5% of your entire portfolio on a single coin.
