Kraken Permits Shiba Inu (SHIB) Deposits

Binance Adds the SHIB/DOGE Trading Pair, and Kraken Allows Shiba Inu (SHIB) Deposits

The US-based cryptocurrency exchange Kraken said on Monday that deposits made using Shiba Inu (SHIB) would be accepted on its platform as of November 30. The capability also allows for the entry and execution of orders. The cryptocurrency exchange made it clear that deposits need to be made with 20 confirmations, which takes 5 minutes, and that the minimum deposit is 373,000 SHIB. Furthermore, Kraken stated that a minimum of 50,000 SHIB will be needed in order to trade the “Dogecoin killer” against the US dollar and the euro.

Shiba Inu has officially been integrated into CoinGate’s offering, enabling dealers and merchants to use the token, as the company just revealed. Consequently, this meme coin can now be accepted, bought, traded, or spent by CoinGate users, merchants, traders, and Reward Card Buyers. According to the company, Shiba Inu may be purchased for 1% through its trading system, enabling more than 500 CoinGate merchants to accept the cryptocurrency as payment from their clients. Additionally, CoinGate’s store will sell gift cards that include SHIB.

Major cryptocurrency exchange Binance declared early this month that it would begin trading the SHIB/DOGE pair. Binance has now established itself as the first significant cryptocurrency exchange by offering a trading pair of two meme tokens. Additionally, while having no intrinsic worth, it is being introduced at a time when the prices of both tokens are rising quickly.

Marketed as a Dogecoin killer, Shiba Inu has experienced a notable uptick in sales in the last few months. It is currently among the cryptocurrencies with the quickest growth rates. Furthermore, the Dogecoin rally that occurred earlier this year attracted widespread attention because Elon Musk—the richest man in the world—was a major supporter of the joke token and regularly tweeted in favour of it.