Listed on Mexico’s largest cryptocurrency exchange Shiba Inu (SHIB) It managed to capture a very positive atmosphere and rose rapidly.
With this, meme coin If he can maintain his momentum or not repeat the story of his rise after being listed on Kraken, things could get better, but we’re at a pretty early stage to talk about it yet.
Coindesk noted that the Shiba Inu (SHIB) rose 16% on Thursday, leading major cryptocurrencies gains amid rumors of a listing on Robinhood.
The Shiba Inu gained positive momentum after being listed on Bitso. However, traders are thoughtful and taking the waiting action considering the cryptocurrency’s past performance.
Shiba Inu Fails to Develop Sustainable Increase Momentum After Kraken Listing
Shiba Inu jumped 16%, leading the gains among major cryptocurrencies, amid rumors of a Robinhood listing.
By @shauryamalwa https://t.co/ilgrl3sXLP
— CoinDesk (@CoinDesk) January 13, 2022
The Shibu Inu saw a significant increase in value when it was listed on Kraken last November. The value of the meme coin rose from $0.0000040 to $0.000054. However, it failed to hold the volatility and soon declined after significant selling pressure pushed it below $0.000030.
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Exchange listings often positively affect the values of cryptocurrencies as they expand potential investors. The number of Shibu Inu owners continues to increase due to additional listings. At the same time, these new owners are unable to provide momentum for the Shibu Inu, meaning that more prominent crypto-holding players are removing their funds from the cryptocurrency.
Investors are in wait and watch mode
As such, investors are trying to catch up to 2022 and wait to see the effects of the new listing to penetrate and settle the coin’s values. In other words, we’re still at a very early stage to see if the listing provides any long-term financial support to the Shiba Inu.
Most likely, the overall market sentiment will influence the dynamics of the Shiba Inu, depending on the fate of the world’s two leading cryptocurrencies, Bitcoin and Ethereum.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.