Shiba Inu Price Update As Kraken Listing Delay Disappoints Crypto's Fans

Fans of the Shiba Inu cryptocurrency token have reacted with disappointment after the Kraken cryptocurrency exchange did not add the coin to its platform on Tuesday.

Excitement over a Kraken listing began on Monday when the exchange's official account posted a tweet claiming that "if we get 2,000 likes we will list SHIB tomorrow."

The tweet easily surpassed this target, achieving tens of thousands of likes by Tuesday, as well as many thousands of retweets.

Users began to speculate that Kraken really would add Shiba Inu to its platform on Tuesday night when the exchange posted a notice on its website saying it would be down for maintenance between 6 p.m. and 6:15 p.m. ET that evening.

However, as of 6:30 a.m. ET on Wednesday, Shiba Inu has not been added to Kraken's price list.

At 6 p.m. on Tuesday, Kraken posted a tweet apparently acknowledging the delay in listing the token. The post said the company had heard the cryptocurrency's fans "loud and clear," but conceded: "There's more work for us to do as we move through our listing review process."

🐙♥️🐶 #SHIBArmy we’ve heard you loud & clear!

Community is an important part of our considerations for all listings, and you have clearly shown your support.

There’s more work for us to do as we move through our listing review process.

— Kraken Exchange (@krakenfx) November 2, 2021

Predictably, many Shiba Inu fans—known on Twitter as the #SHIBArmy—were not too pleased.

"You stated Shiba would be listed today!" tweeted one, who gained over 1,000 likes for their complaint.

"Why wouldn't you have already done the review process prior to making that tweet?" posted another.

Don't tweet false promises in future it really doesn't give any investors confidence in your platform, you have lost me as lifetime customer now.

You stated Shiba would be listed today!

— ShibaWarrior (@Rogersnith10) November 2, 2021

Kraken did not respond to a Newsweek query on Tuesday regarding when the token would be listed on its platform.

At around 4:30 a.m. on Wednesday morning Shiba Inu was down more than 7 percent over the past 24 hours, according to CoinMarketCap, bringing its price to $0.000065. Its market capitalisation—the value of all tokens in circulation—dipped to $36.1 billion.

This allowed Dogecoin, the original dog-themed meme token, to overtake Shiba Inu on CoinMarketCap's cryptocurrency ranking. Dogecoin's total value was $36.3 billion at the time.

Cryptocurrency prices are infamously volatile and unpredictable. Experts have previously warned Newsweek about the risks associated with trading them.

Shiba Inu has made headlines over the past couple of weeks thanks to a rapid price rise in October, as well as a tweet "snubbing" the token posted by billionaire Elon Musk. As with all tradable assets, however, there is always a risk it will go down in price.

Earlier this year cryptocurrencies lost hundreds of billions of dollars in value in a market-wide crash through spring and summer that affected prominent coins such as Bitcoin and Dogecoin.

Shiba Inu
Stock photo of a Shiba Inu dog. The Shiba Inu cryptocurrency is one of many tokens spawned after Dogecoin's success. taa22/Getty