Shiba Inu price has surged 30% in the last 24 hours.
The current rally saw the Shiba Inu price resume a bullish trend after a very prolonged bearish trend that saw the meme coin drop from the top ten list.
Why is Shiba Inu price rising?
Shiba Inu surged today after Kraken Digital Asset Exchange announced on Monday that it shall list the meme coin Shiba Inu. Kraken indicated on a blog post announcement on the company website that deposits requirements were ready and the trading of SHIB was set to go live on Tuesday 30th November.
This bullish momentum is also supported by the upward movement of the Relevant Strength Index (RSI) towards the overbought region where we can say that SHIB is comfortably in the hands of the bull.
Kraken’s announcement came after the earlier promise to list SHIB on November 1st failed resulting in an uproar from the Shiba Inu community. Kraken had then responded that it was still putting several measures in place to review its token listing process and it is expected that this time the process of listing the meme coin shall go through.
According to the blog, a minimum deposit of 373,000 SHIB was required.
In addition to listing SHIB, Kraken will also support the SHIB/EUR and SHIB/USD pairs where the minimum trading volume shall be capped at $50,000 SHIB.
SHIB futures and margin trading will, however, not be available on Kraken.
The post Shiba Inu (SHIB) surges 30% after Kraken listing appeared first on Coin Journal.