- Shiba Inu was registered on Kraken on Tuesday
- Newegg is ready to accept SHIB as payment method
- Shiba Inu rose 16% on Monday following the announcements
Shiba Inu topped the charts on Monday as its prices jumped about 16%. This bullish sentiment, occurring after more than a week of decline, was sparked following the acceptance of the SHIB tokens as payment by popular online electronics retailer Newegg and the coin’s meme quotation on the Kraken crypto exchange.
Shiba Inu started Monday’s daily candle at $ 0.00003911, hitting a daily high of $ 0.00004586. Monday’s daily low was $ 0.00003830 as the candle closed at $ 0.00004522.
According to The data By CoinMarketCap, at 11:01 p.m. ET, Shiba Inu’s market cap was up 22.77% to $ 26.26 billion. Tuesday’s daily candle is also bullish, with buyers pushing prices up nearly 7%. Shiba Inu recovered the 50-day moving average on the daily chart, which is a key support level for future price development.
The upward trajectory is the result of recent Twitter announcement by Newegg. So far, the popular electronics retailer hasn’t revealed much other than that it will add Shiba Inu as a payment method for its customers. One notable fact is that Newegg already supports BTC, ETH, and DOGE through Bitpay.
The fourth largest cryptocurrency exchange, Kraken, will also allow its customers to buy and sell Shiba Inu on its platform. The announcement came nearly a month after the platform promised to list the coin following a Twitter âlikeâ challenge from Brian Hoffman, the platform’s product manager.
On November 1, Kraken officials said there was “more work” to be done before Shiba Inu’s final listing on the cryptocurrency platform.
Finally, Kraken users can now buy and trade Shiba Inu in USD and EUR. The minimum deposit required is 373,000 SHIB, while the minimum number of SHIB tokens required for trading is 50,000 SHIB. But there is a catch. Futures and margin contracts will not be available to investors on the Kraken Exchange.