Major US Exchange Announces Shiba Inu Trading Expansion with New SHIB Listing

Major US Exchange Announces Shiba Inu Trading Expansion with New SHIB Listing

Kraken Proa major US-based exchange, has unveiled its latest development: the addition of new margin pairs, with a focus on Shiba Inu (SHIB), the renowned meme-inspired cryptocurrency.

Kraken Proa major US-based exchange, has unveiled its latest development: the addition of new margin pairs, with a focus on Shiba Inu (SHIB), the renowned meme-inspired cryptocurrency.

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SHIB will now be available for margin trading on Kraken Pro, paired with the US dollar, with maximum leverage set at three and a limit of 1.5 billion SHIB for long and short positions. Described as a meme coin based on Ethereum and inspired by Dogecoin, SHIB emerged in 2020 under the pseudonym of developer Ryoshi.

As the announcement cites, the project was created in response to a single question: What would happen if a cryptocurrency project was 100% managed by its community?

The Rise of Shiba Inu (SHIB)

Four years later, some kind of answer can be given to this rhetorical question. Therefore, as of now, the Shiba Inu token is the 11th largest asset in the crypto market, with a market capitalization of approximately $13.49 billion. More specifically, the Shiba Inu ecosystem is also presented with several other cryptocurrencies such as BONE and LEASH, which also collectively gather around $180 million in market capitalization.

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SHIB market capitalization by CoinMarketCap

Added to this is Shibarium, a layer 2 EVM blockchain solution designed for Shiba Inu. The project launched in August 2023 and has since earned $2.46 million in total value locked. Looking at the statistics of the Shiba Inu blockchain network, there are 105,393 accounts, 1.79 million addresses, 415.52 million completed transactions, and 2,265 verified smart contracts.

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Fountain: Shibariumscan

Answering the question of what would happen if a cryptocurrency project were 100% run by its community, it is likely that the project will evolve into something bigger than just a dog-inspired meme coin.

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In the unique case of Shiba Inu, it has evolved into a complete ecosystem, with its main token, SHIB, being accepted as a means of payment on several large platforms, while having a market capitalization in the billions and still has room to grow. with new listings on the main exchanges.

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