Shiba Inu Price Update As Kraken Exchange Teases Listing the Crypto

The Kraken cryptocurrency trading platform has suggested it may allow people to trade Shiba Inu tokens from today, leading to speculation amongst fans of the dog-themed meme token.

Shiba Inu has made headlines recently due to a sharp price rise over the past couple of weeks. As of 11:30 a.m. ET on Tuesday the cryptocurrency token was worth $0.000068 with a market cap of $38 billion according to CoinMarketCap, down 4 percent over the previous 24 hours but still holding most of its value from a late October bull run.

On October 23 Shiba Inu tokens were worth just $0.000028, before rising to an all-time high of $0.000088 on October 28.

Now, Shiba Inu fans are hoping the token will reach an even larger audience than it already has due to a Kraken listing.

It should be noted that cryptocurrency prices are notoriously volatile and unpredictable and experts have previously warned Newsweek about the risks and dangers associated with investing in them.

Talk of a listing was sparked on Monday after Kraken, via its official Twitter account, cited its own product lead Brian Hoffman as saying: "If we get 2,000 likes we will list SHIB tomorrow—but he doesn't think we can do it."

It then called on Shiba Inu enthusiasts, informally known as the SHIB Army on social media, to give publicity to the tweet by liking and retweeting it.

🐶♥️🐶♥️🐶♥️🐶♥️🐶@brianchoffman said if we get 2,000 likes we will list $SHIB tomorrow - but he doesn't think we can do it.#SHIBArmy where you at?

👇 👇 👇
💬 🔁 ♥️

— Kraken Exchange (@krakenfx) November 1, 2021

The tweet far surpassed the goal of 2,000 likes. As of 11:30 a.m. EDT on Tuesday it had received more than 61,000 likes along with 15,000 retweets.

Speculation that Kraken will go through with the Shiba Inu listing was further sparked after the cryptocurrency exchange announced via the status page on its website on Monday afternoon that it would be down for scheduled maintenance on Tuesday between 10 p.m. and 10:15 p.m. UTC (6 p.m. and 6:15 p.m. ET).

It wrote: "The Kraken Spot Exchange Website and API will be undergoing maintenance as we upgrade our systems on Tuesday, November 2 at 22:00 UTC, and be unavailable for approximately 15 minutes. It is recommended not to place or cancel orders during this timeframe."

Shiba Inu fans have taken screenshots of the maintenance alert to post on Twitter. One user wrote, alongside the maintenance notice: "Is SHIB coming?"

Kraken did not immediately respond to a request for comment by Newsweek. It is not clear whether a Shiba Inu listing will go ahead after this time or not.

shiba inu dog
A stock image shows a Shiba Inu dog. Shiba Inu tokens have jumped in price over the past couple of weeks. Getty Images