April 18, 2024

The centralized cryptocurrency exchange Kraken has finally listed the SHIB token after a lot of delaying and shelving. The management of the San Francisco-based exchange decided to list the token a month ago. Owing to the popularity of meme coins these days, it does not come as a big surprise.

The official Twitter account of Kraken decided to post the news and claimed that the canine token would be listed if the post was able to get 2K votes in 24 hours. However, the post went viral quickly and received a massive number of votes. The exchange took down the post and used diversions to prevaricate the listing, only to make it happen a month later.

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The users of the Kraken exchange will be able to trade SHIB tokens against the USD and Euro starting from November 30th. The minimum deposit limit has been set at $18 or 323,000 SHIB tokens, while the minimum trade limit is $2.40 or 55K Shiba Inu tokens. Shiba Inu is essentially a clone of the original meme coin called Doge that was created as a joke.

However, SHIB has been dubbed as the most successful meme coin of the year. The market cap for SHIB is valued at $28 billion, while Dogecoin is only a few steps ahead with $29 billion. Shiba Inu token is also now listed at more than ten major centralized cryptocurrency exchanges like Coinbase Prime, Gemini, Binance, Korbit, and Crypto.com, among others.

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New Meme Coins in the Market

Cryptocurrency investors are always on the lookout for the most promising variants for diversifying their investments. After the success of Shiba Inu and Dogecoin, more meme coins have entered the crypto markets. Among these tokens, the most promising proponents are Magic Internet Money (MIM), with a $1 billion market cap. The MIM token is also known as Abracadabra money or Spell Token, and it is also a stablecoin.

Another important meme coin to blow up this year is Floki Inu. Recently, the political leadership of the UK sued the management for inappropriate advertisement resulting in massive media coverage of the token. The Floki Inu token is based on Binance Smart Chain, and it is collaborating on a 3D gaming development project called Valhala. Donelon Mars and Baby Dogecoin have also gathered some attention from investors and centralized exchanges.

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