As a seasoned crypto investor with a keen eye for potential opportunities, this latest move by Kraken to support Shiba Inu (SHIB) is nothing short of exciting! Having been through numerous market cycles and witnessing the rise and fall of countless projects, I can confidently say that the integration of SHIB on one of the most trusted crypto exchanges speaks volumes about its potential.
Kraken, a well-known cryptocurrency platform, has recently added support for Shiba Inu (SHIB), the dog-themed meme coin. This significant move is happening before the expected launch of SHIB Eternity, making it a major milestone within the Shiba Inu community.
Kraken Extends Support For Shiba Inu
On August 20th, Kraken published a blog post to share exciting news: they are now offering margin trading pairs for the trendy meme coin, Shiba Inu (SHIB). The Kraken team expressed their enthusiasm by saying, “We’re excited to let you know that Kraken now offers margin trading for Shiba Inu!”
Kraken announced they will introduce new Euro margin trading pairs, such as SHIB/EUR. This move signifies the team’s intention to cater to their vast user base by expanding cryptocurrency trading possibilities for European traders with additional SHIB trading options.
Most significantly, this support signifies a notable achievement for Shiba Inu, as it has evolved from a small-scale meme token to a well-known and frequently used digital currency within the cryptocurrency market. Now, Shiba Inu supporters in Europe and Kraken users worldwide can take advantage of positions on SHIB, providing them with the opportunity to earn profits through trades.
Kraken’s SHIB margin pair aligns with the exchange’s broader strategy to offer a wide range of crypto trading options and continuously broaden its portfolio. By supporting new trading pairs with a solid community backing like Shiba Inu, Kraken can potentially strengthen its position as a leading crypto exchange.
In their recent blog update, the team shared their plans to broaden the range of cryptocurrencies they’ll be supporting. However, they didn’t disclose specific currency pairs under consideration, due to policy restrictions. Meanwhile, Kraken advises investors to exercise care when trading to minimize potential risks.
They emphasized that trading with margin will require investors to have at least one type of collateral cryptocurrency. The team highlighted that margin trading is not universally available and comes with certain requirements and limitations, such as extra costs and fees for opening, closing and maintaining trade positions.
SHIB Eternity Launch Imminent As Testing Continues
1. Kraken now supports Shiba Inu right before the anticipated debut of SHIB Eternity, a mobile trading card game that includes Web3 transitions, special seasonal tournaments, boosted rewards, and additional features. This game also intends to incorporate BONE, one of Shiba Inu’s native tokens, for all blockchain transactions within its platform.
As stated by Lucie, the lead marketer for Shiba Inu, the upcoming project known as SHIB Eternity is currently being subjected to various trials. In a recent post on X (previously Twitter), she emphasized that the launch of SHIB Eternity could serve as a pivotal moment for the Shibarium network, implying that this eagerly awaited game could significantly influence the expansion and advancement of Shibarium.
Mentioning ‘BONE’ and ‘SHIB‘ burns, Lucie seems to imply that SHIB Eternity might significantly impact the reduction of both BONE and SHIB token supply by employing burn strategies. This could theoretically increase the value of these cryptocurrencies due to a potential scarcity in the market.
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2024-08-23 00:41