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Memecoin Shiba Inu gains momentum after appearing in US brokerage

Shiba Inu memecoin is now available from cryptocurrency broker Kraken, the second largest in the US by volume handled. After almost a month of waiting, the trading platform opened deposits for the token on Tuesday (30).

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The Ethereum-based currency has a minimum deposit of 373,000 SHIB — about US$20 (R$112.3) at the current price. Service users can buy and trade SHIB with dollars and euros.

In early November, Kraken indicated in a tweet that if the publication garnered 2,000 likes, the digital currency would be available the next day. In 24 hours, the post had more than 45 thousand likes, but the broker did not fulfill the promise.

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Cryptocurrency emerged from meme (Image: Reproduction/Pixabay/GO223BANQ1MAL)

Only now has the coin been made available. And investors were anxious: shortly after the announcement, the price of SHIB soared. In 24 hours, the accumulated high passed 35%. Afterwards, the price dropped a little and, on Wednesday afternoon (1st), the cryptocurrency was traded at US$ 0.00004483 (R$ 0.0002518).

With the increase, the market value of the cryptoactive rose to US$ 29.5 billion (R$ 165.7 billion). SHIB now ranks 10th in CoinMarketCap’s cryptocurrency rankings by market value. It is ahead of rival Dogecoin (US$29.3 billion or R$164.6 billion).

Shiba Inu at Bitcoin Market

In Brazil, the Bitcoin Market also offers the currency. According to the platform, SHIB is a good option for those who are “cold-blooded and want to take advantage of fluctuations to earn money”. That’s because it’s very volatile.

Analyst Sarah Tran says the price forecast for SHIB is optimistic. She believes that the asset could rise 42% over the current price — it could reach US$ 0.00006363 (R$ 0.0003574). “On the 12-hour chart, the price has formed a downward wedge pattern, suggesting a bullish outlook for the SHIB. The prevailing chart pattern suggests a 42% rise, which coincides with the 61.8% Fibonacci retracement level,” he comments.

Read the article on Canaltech .

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