- Kraken Pro, a prominent U.S.-based cryptocurrency exchange, has announced the addition of new margin pairs, notably including Shiba Inu (SHIB).
- SHIB, an Ethereum-based meme coin, will be available for margin trading against the U.S. dollar, with a maximum leverage of three and a cap of 1.5 billion SHIB for both long and short positions.
- Shiba Inu has evolved into a full-fledged ecosystem, with its main token, SHIB, being accepted as a payment method across several major platforms.
Kraken Pro introduces new margin pairs, spotlighting Shiba Inu (SHIB). The meme-inspired cryptocurrency continues to evolve, gaining acceptance across major platforms.
Kraken Pro Adds Shiba Inu to Margin Trading
Kraken Pro, a major U.S.-based exchange, has unveiled its latest development: the addition of new margin pairs, with a spotlight on Shiba Inu (SHIB), the renowned meme-inspired cryptocurrency. SHIB will now be available for margin trading on Kraken Pro, paired against the U.S. dollar, with a maximum leverage set at three and a cap of 1.5 billion SHIB for long and short positions.
Shiba Inu’s Evolution
Described as an Ethereum-based meme coin inspired by Dogecoin, SHIB emerged in 2020 under the pseudonymous developer Ryoshi. The project was created as a response to a single question: What would happen if a cryptocurrency project was 100% run by its community? Four years later, Shiba Inu token stands as the 11th biggest asset on the crypto market, with a market capitalization of approximately $13.49 billion. The Shiba Inu ecosystem also includes other cryptocurrencies like BONE and LEASH, which collectively have about $180 million in market cap.
Shibarium: Shiba Inu’s Layer-2 Blockchain Solution
Adding to this is Shibarium, a layer-2 EVM blockchain solution designed for Shiba Inu. The project was launched in August 2023 and since then has gained $2.46 million in total value locked. As for Shiba Inu’s network blockchain stats, there are 105,393 accounts, 1.79 million addresses, 415.52 million completed transactions and 2,265 verified smart-contracts.
Conclusion
In the unique case of Shiba Inu, it has evolved into a full-fledged ecosystem, with its main token, SHIB, being accepted as a means of payment across several big platforms, while commanding billions in market cap. With new listings on major exchanges like Kraken Pro, the meme-inspired cryptocurrency continues to grow and evolve, proving that a community-driven project can indeed become something much larger than its original conception.
