Shiba Inu (SHIB) is an Ethereum-based memecoin inspired by Dogecoin (DOGE) that was launched in 2020 by Ryoshi, an anonymous developer. According to the developers, the project was created as a response to a single question: What would happen if a cryptocurrency project was entirely run by its community?

On the other hand, Kraken is a cryptocurrency exchange. This means that it matches orders from customers who wish to buy cryptocurrencies with orders from customers who wish to sell cryptocurrencies (or vice versa). However, as it is stated on its blog, it is not a store for buying and selling cryptocurrencies. It is neither a personal wallet, a broker, an investment fund, an advisor or a bank. The state of Wyoming has just approved Kraken’s application for a bank charter, but it has not yet opened an operating bank and, when that happens, it will be a separate entity from the exchange. 

As anticipated yesterday on Kraken’s blog, SHIB’s trading starts today: “Funding is live, and we anticipate trading will begin tomorrow, November 30 — at which point Kraken will enable order entry and execution. Keep an eye on the status page for updates.”

According to Kraken exchange, Shiba Inu will be tradeable against USD as well as EUR, with a trading minimum of 50,000 SHIB. There will be a price precision of 8 decimal places and a quantity precision of 5 decimal places.

Deposits will take approximately 5 minutes, since they require 20 confirmations each. “You can add SHIB to your Kraken account by navigating to Funding, selecting the asset, and hitting Deposit. The minimum deposit is 373,000 SHIB,” instructs Kraken’s blog publication. SHIB has risen over 900% during October and its price today is US$0.000048 with a 24-hour trading volume of US$7,269,287,583. Shiba Inu’s current CoinMarketCap ranking is number 11, with a market cap of US$26,618,981,546 and it has a circulating supply of 549,056,703,173,510 SHIB coins.