Cryptocurrencies
Shiba Inu Rally Spurred by Kraken Listing Starts to Peter Out
- Kraken and Newegg Commerce make announcements around Shiba Inu
- The meme coin has market value of around $25 billion
Photographer:J akub Porzycki/NurPhoto via Getty Images
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The red-hot rally in meme-coin darling Shiba Inu is losing some of its steam.
The token had posted a double-digit gain after crypto-exchange Kraken listed it for trading and e-retailer Newegg Commerce announced it will accept the digital asset as a form of payment. But on Wednesday, the token fell more than 4%, according to data from CoinGecko.com.