In August, the crypto market experienced a significant downturn. There have been few safe bets. Bitcoin The price of Friday’s cheapest tickets was just $58,000. But, the tide could soon turn. Kraken, the crypto-exchange that is a mainstay of meme coins Shiba and Inu, could help push SHIB to $0.000015.
This asset had an extremely rough time over the past few weeks. According to a report, profitability of the asset has dropped below 50% and experienced a 60% decline. IntoTheBlock. The token could be on the rise again, as new data indicate a growing interest.
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Shiba inu poised to bounce back? Kraken May Help
August was not kind to the market-cap second biggest meme coin. Shiba Inu, in fact, has been struggling. The asset’s value has dropped by over 15% in the last thirty days. CoinMarketCap. The price has fallen by over 7% within the last week, and it is now trading at $0.00001375.
But that may soon change. Like with other meme coins, the sentiment of users can impact price. As with Dogecoin hypeman Elon Musk. It is impossible to deny the connection between price and news. SHIB is a good example of how this could play a major role.
Shiba inu could be getting help from Kraken to reach $0.000015. The meme hasn’t been able to sustain above $0.000015. level since August 23rd Despite its efforts, it has been unable to escape from the current position. But the crypto exchange can help.
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Kraken has added Shiba Inu to its list of collaterals for trading crypto-futures. Kraken recently added Shiba As collateral for cryptocurrency futures trading. announcement to X (formerly Twitter)The platform revealed the latest news. “You can now use SHIB to get exposure to over 200 perpetual futures,” Platform announced
The overall support of the market for this asset will only increase. It also increases the adoption and utility of the token. Conversely, Kraken isn’t alone. SHIB’s trading service has increased with Coinbase and Robinhood throughout this year.
The asset could benefit from this at the ideal time. In the last day, data show that large transaction volumes have increased 62%. It shows a greater interest among large holders. This should increase profitability and value.
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Source: watcher.guru
