A new development for the SHIB token has managed to add momentum to the meme coin during the last 24 hours. The regulated cryptocurrency exchange based in San Francisco, Kraken, has officially listed the meme coin on its platform. The announcement for the event was made a month in advance.
However, after making the announcement, Kraken management had been avoiding the subject to the dismay of the SHIB token holders. Now, the regulated exchange has finally delivered on its promise, and the users will be able to purchase SHIB tokens against USD and euro starting from Tuesday.
After becoming one of the biggest meme coins and the most successful cryptocurrencies for the year, the SHIB token has started to make appearances on all the major crypto exchanges. Last week, SHIB coin became the first-ever meme-based cryptocurrency to get a listing in the South Korean cryptocurrency market.
It is worth noting that the token is already available at all the major US-based crypto exchanges like Gemini and Coinbase. The largest crypto exchange in the world, Binance has also listed SHIB for investors. Following the news of the listing, the SHIB token managed to gain 2.5% in the last 24 hours. However, it was down by 40% since the start of the current month.
Electronics Giant will Accept Shiba Inu
The NASDAQ-listed electronics giant Newegg recently posted SHIB token’s official Twitter account. Now, the management of Newegg has made it official that it has started to accept SHIB tokens as payments for selected products. The development came at a crucial time when the meme coin underwent a massive correction.
Data from CretiK indicates that more than 1.05 million digital wallet addresses on Ethereum hold SHIB tokens. The same technical analytics service also revealed that the average number of new investors added to the SHIB token is 30K to 40K regularly.
Meanwhile, Newegg has proceeded to add many trending cryptocurrencies like $DOGE, $ETH, $LTC, $PAX, $BUSD, $USDC, $USDT, $BCH, $DAI, and $WBTC, among others as a form of payment for home appliances, gaming consoles, and smart home products.