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Shiba Inu (SHIB) and Pepe (PEPE) are leading the charge with new EUR trading pairs, offering fresh opportunities for traders on a major US exchange. These additions bring enhanced leverage options for the popular meme coins.
Shiba Inu (SHIB) and Pepe (PEPE) Lead EUR Margin Pairings
Kraken, a cryptocurrency exchange located in San Francisco, has declared the addition of new EUR margin pairs for the two most popular meme currencies, Shiba Inu (SHIB) and Pepe (PEPE).
U.Today reports that Kraken now supports Sei (SEI) and Near Protocol (NEAR) with EUR margin pairings in addition to the seven cryptocurrencies already mentioned. Users of Kraken can trade these pairs using leverage of up to three times. What this implies for traders is that they can open positions larger than their balances.
As an example, a 3x long position would yield a 15% gain if the price of Shiba Inu (SHIB) were to rise by 5%. On the other hand, due to the high degree of uncertainty inherent in the market, novice traders should stay away from margin trading and its associated risks.
SHIB, Pepe Cap Limits Set for EUR Margin Trades
Long and short positions in the SHIB/EUR cannot exceed 2 billion tokens. In contrast, there is a cap of 3.5 billion tokens for the PEPE meme coin.
In November 2021, after a fierce fight by the leading meme cryptocurrency community, Kraken finally listed SHIB.
Shiba Inu and Pepe EUR Margin Trading Available
One of the first cryptocurrency exchanges, Kraken, introduced margin trading in 2015. At first, the only currency pair that could be traded on margin was Bitcoin/EUR.
Kraken has greatly increased the number of cryptocurrencies that can be traded on margin during the last several years. The platform added support for eight stablecoin pairs to its margin trading platform in June.
The leading USD exchange began trading pairings with SHIB, PEPE, and a few other cryptocurrencies earlier this year.
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