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Shiba Inu coin won’t make it to Kraken just yet. Here’s why that matters for Shib coin fans

Kraken did not add the Shiba Inu coin on its platform just yet because of its thorough review process.

An illustration that shows a dog catching a coin.
Kraken won’t list Shiba Inu coin on its platform, upsetting the Shib coin army.
Illustration by Alex Cochran, Deseret News

Kraken, a cryptocurrency exchange platform, will not list Shiba Inu coin on its platform just yet, upsetting fans of the meme-bases cryptocurrency.

Per Business Insider, Kraken hinted that it would add Shiba Inu coin onto its platform, allowing people to trade and exchange the crypto token on yet another platform.

But then, Kraken said Tuesday in a Twitter thread that it would not add the coin right now. The company said there is more work to do in the thorough listing review process. Community engagement, according to a company spokesperson, is one step in the process.

  • ”There’s more work for us to do as we move through our listing review process,” the crypto exchange said.

This instantly upset the Shiba Inu community — commonly known as the Shiba Army — who were excited to see the coin listed on another platform. Now, they’ll have to wait a little longer.

  • “Many users questioned why the exchange would make a pledge it did not intend to honor, while others threatened to delete their Kraken accounts,” according to Business Insider, “Yet others called on fans to have patience.”

The Kraken move would have happened before Shiba Inu coin made it to Robinhood, which is one of the biggest investing and cryptocurrency trading platforms out there. Fans of Shiba Inu have been monitoring the coin’s potential move to Robinhood and Kraken because that would create a new round of investors and buyers, potentially leading to a spike in the coin.

Rumors have persisted that Shiba Inu coin would make it onto Robinhood, which would be a major crypto platform for investors. The coin has already snuck onto Coinbase, which is a major popular trading platform, and Public, a retail trading app that rivals Robinhood.

This story was updated to reflect a statement from Kraken about the review process.