Crypto markets have certainly seen a decline in August. The crypto market has been hit hard by August’s downturn. Bitcoin As low as $58k on Friday. Things could change soon. Kraken, the crypto-exchange that is a mainstay of meme coins Shiba and Inu, could help push SHIB to $0.000015.
Over the last few weeks, this asset has had a tough time. According to a report, profitability of the asset has dropped below 50% and experienced a 60% decline. IntoTheBlock. This may change, as data suggest a positive attitude and increased interest in the token.
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Shiba Inu Set to Rebound? Kraken May Help
August was not kind to the market-cap second biggest meme coin. Shiba inu is a dog that has suffered a lot. According to the data, over the past 30 days the value of the asset fell by more than 15 percent. CoinMarketCap. The price has fallen by over 7% within the last week, and it is now trading at $0.00001375.
This could change. Like with other meme coins, the sentiment of users can impact price. Like Dogecoin hypeman Elon Musk. It is impossible to deny the connection between price and news. SHIB could be impacted by this.
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. The cryptocurrency exchange may be able to help.
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Kraken has added Shiba Inu to its list of collaterals for trading crypto-futures. The Shiba Inu is a breed of dog that has been used as collateral for crypto 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
It will increase the support that the asset receives from the entire market. This move also drives adoption and utility. Conversely, Kraken isn’t alone. SHIB has been able to increase its trading capabilities with both Robinhood and Coinbase throughout the entire year.
It could have been the exact thing the asset was looking for at just the right time. In the last day, data show that there has been a massive increase in big transactions. This shows an increased interest from large holders. This should increase profitability and value.
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Source: watcher.guru