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

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kraken proThe leading US-based exchange has announced its latest development: the addition of a new margin pair focused on Shiba Inu (SHIB), a popular meme-inspired cryptocurrency.

SHIB will be available for margin trading against the USD on Kraken Pro. Maximum leverage is set at 3, and long and short positions are capped at 1.5 billion SHIB. Described as an Ethereum-based meme coin inspired by Dogecoin, SHIB debuted in 2020 under the pseudonym of developer Ryoshi.

As cited in the announcement, the project was created in response to one question: “What would happen if a crypto project was 100% community-run?”

Rise of the Shiba Inu (SHIB)

Four years later, we’ll have some sort of answer to this rhetorical question. Therefore, at the moment, the Shiba Inu token is his 11th largest asset in the cryptocurrency market, with a market capitalization of approximately $13.49 billion. Furthermore, the Shiba Inu ecosystem also offers several other cryptocurrencies such as BONE and LEASH, whose combined market capitalization reaches approximately $180 million.

By SHIB market capitalization coin market cap

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

sauce: sibrium scan

Answering the question of what would happen if a cryptocurrency project were 100% community-run, the project could evolve into more than just a dog-inspired meme coin.

In the unique case of Shiba Inu, its main token, SHIB, has been accepted as a means of payment across multiple large platforms and evolved into a full-fledged ecosystem, but with a market cap reaching billions of dollars, there is still room for growth. there is. Newly listed on major exchanges.

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Gamza Khanzadaev

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