Shytoshi Kusama Hails Big New SHIB Listing on Top US Exchange

Shytoshi Kusama, the well-known lead developer of Shiba Inu, is celebrating the recent listing of the SHIB token on Kraken, one of the largest cryptocurrency exchanges in the US. This new exposure allows SHIB to be used as collateral for futures trading on Kraken Pro, with over 200 perpetual futures contracts available for trading. Alongside SHIB, other meme coins like BONK, WIF, and PEPE, which are based on the Solana blockchain, can also be leveraged as collateral. This listing expands the use case of SHIB beyond spot trading and into the more complex futures market, potentially increasing its demand. The SHIB community responded positively to the news, expressing gratitude to Kraken and eagerly anticipating the addition of other tokens like BONE from the Shibarium trifecta. Despite the excitement, SHIB’s price has seen a 3.77% decline in the past 24 hours, though it made a slight recovery of around 1.5% at the time of writing. This price movement mirrors that of Bitcoin, which experienced a similar decline and modest recovery. It is worth noting that Ark Invest, led by Cathie Wood, recently sold $100 million worth of Bitcoin, contributing to its price drop, and market sentiment may also be influenced by Pavel Durov’s detention in France.