Shiba Inu Army Outraged As Kraken Fails To List SHIB Despite Promises

The Shiba Inu SHIB/USD community didn’t take well to Kraken’s decision to not list the token on its crypto trading platform.

What Happened: In a tweet on Monday, U.S.-based crypto exchange Kraken promised to list Shiba Inu on Nov. 2 if it managed to get 2,000 likes on the tweet.

@brianchoffman said if we get 2,000 likes we will list $SHIB tomorrow - but he doesn't think we can do it.#SHIBArmy where you at?
 

— Kraken Exchange (@krakenfx) November 1, 2021

The tweet in question managed to generate 2,000 likes within minutes of being posted and now has more than 81,000 likes. Still, Shiba Inu traders were disappointed to note the coin had not been listed even on Nov. 3, despite the exchange’s promise.

On Wednesday, the exchange confirmed that it would not in fact be listing Shiba Inu on account of having “more work to do” in its listing review process.

#SHIBArmy we’ve heard you loud & clear!

Community is an important part of our considerations for all listings, and you have clearly shown your support.

There’s more work for us to do as we move through our listing review process.

— Kraken Exchange (@krakenfx) November 2, 2021

Shiba Inu supporters were outraged at the exchange reversing its decision to list the cryptocurrency and took to Twitter Inc TWTR to show their displeasure.

Users claimed that the false promises would hurt Kraken’s credibility as a crypto exchange with some users deciding to move funds over to Coinbase Global Inc COIN as a result of Kraken’s actions.

I’ve used @krakenfx since 2016, and you’ve now lost me as your customer. I will am taking my pennies over to @coinbase, at least they don’t tweet empty promises and lie to their investors.

— george (@Art_Vandelayyy) November 3, 2021

Be careful, Kraken. Saying you'll list a coin and then not after the price moved could be market manipulation. Especially when the effect of the listing is widely known. Worse still, if employees at Kraken bought or sold coins around this knowledge... insider trading?

— Will Weiskopf (@will_weiskopf) November 3, 2021

If the exchange that I have my investment money on is playing games now then Im moving to another exchange...very unprofessional...maybe more will follow...

— Halos (@temeculahalos) November 2, 2021

Price Action: Shiba Inu dropped by 20.21% in the last 24 hours after a large holder moved 40 trillion tokens across the blockchain. At publication Thursday morning, the coin was trading at $0.00004938 with a trading volume of $8.8 billion.

It now ranks 11^th in terms of market cap, falling below its rival Dogecoin DOGE/USD which is currenlty in the 9th spot with a market cap of $34 billion.

Photo by Brock Wegner on Unsplash