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Shiba Inu Is Among Four Crypto Tokens Listed on Robinhood

 

Shiba Inu Is Among Four Crypto Tokens Listed on the trading platform Robinhood



The Shiba Inu currency was one of four new cryptocurrencies added to Robinhood Markets Inc.'s platform, marking a victory for supporters who had long fought for the comedy token to be traded.



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Has Shiba been listed on Robinhood?


Robinhood has finally launched the Shiba Inu cryptocurrency for trading after six months of persistent campaigning by its members.


Daytraders' favorite platform has added Solana's SOL, Polygon's Matic, and Compound's COMP to its list of accessible transactions, indicating the increase in retail trading that occurred during the pandemic lockdowns has subsided. The value of all of the listed tokens increased. Shares of Robinhood were up 4.6 percent as of 9:33 a.m. in New York.


In a blog post, Steve Quirk, Robinhood's chief brokerage officer, stated, "We're delighted to provide additional alternatives for our consumers as we seek to make Robinhood the greatest place to invest in crypto." "As a safety-first firm, we have a rigorous structure in place to assist us in evaluating assets for listing, and we are dedicated to offering a safe and instructional crypto platform," said the company.


Users of Robinhood have long demanded that the Shiba coin, or SHIB, be exchanged; a Change.org petition initiated last year garnered more than 550,000 signatures in support of the move.


The company has always stated that it carefully considers the new coins it adds to its offerings — in addition to customer demand, its listing committee considers factors such as on-chain analysis, technology, and security, as well as legal and financial variables.


The ascent of another joke token, Dogecoin, last year is commonly cited by retail investors behind the drive, with many at-home traders predicting that the Shiba currency would follow in its footsteps. Meanwhile, trading in SHIB has been choppy, with Coinmarketcap.com showing a roughly 30% drop in the digital asset this year prior to the announcement. According to Coinmarketcap.com, SHIB increased by almost 7% on Tuesday. Other cryptocurrencies, such as Bitcoin, have also made progress.


In recent days, Robinhood has been active in the crypto space; last week, it announced the launch of its cryptocurrency wallet, which gave access to more than 2 million users who had been on the waiting list. According to Bloomberg, the wallet allows users to engage with crypto outside of Robinhood's trading platform, including the purchase of non-fungible tokens. The feature was initially introduced in September, not long after Robinhood CEO Vlad Tenev stated that clients wanted a wallet like this.


Which token is shiba inu?


Shiba Inu is a cryptocurrency meme token created by Ryoshi, an unknown entrepreneur. It's based on the Doge meme, which shows a Shiba Inu dog, just as Dogecoin (CRYPTO:DOGE). It even refers to itself as the "Dogecoin assassin."


What Crypto can you trade for shiba inu?


Binance, Crypto.com, Atomic Wallet, and KuCoin are just a few of the exchanges where you may buy Shiba Inu. You may also purchase SHIB on Uniswap (through Trust Wallet) by exchanging Ethereum for SHIB.


Robinhood Lists Shiba Inu Coin


Robinhood has introduced SHIB to its platform after years of exclusively trading a few cryptocurrencies.


The price of SHIB is shown with a 'Buy Shiba Inu (SHIB)' widget on the Robinhood page. It also encourages people to register for SHIB. "Sign up for a Robinhood Crypto Account to buy or sell Shiba Inu commission-free," the website says.




 Users were unsure whether Robinhood had truly opened up SHIB trading at first. The Buy and Sell buttons aren't working currently, according to Reddit posts, however, several Twitter users claimed they bought SHIB using Robinhood.


Robinhood confirmed it listed SHIB alongside Solana, Polygon, and Compound a few hours after the news broke. Shiba Inu has been included in the platform's crypto FAQ, and the platform has also confirmed the development with a tweet.


According to the Shiba Discord, a transaction on April 11 that unstaked 1 trillion SHIB ($22 million) might have been Robinhood prepping for the IPO. However, this has not been confirmed.


Robinhood is also giving out $10 in SHIB to a small set of users to commemorate the new listing.


                                                                               



The Shiba Inu crew, who were taken aback by the Robinhood listing, rejoiced as well. Milkshake, a Shiba Growth member, complimented the community's efforts in a series of tweets. She stated, "


SHIB's pricing has already been influenced by Robinhood's listing. The price of Shiba Inu increased by 25% in four hours as a result of the Robinhood announcement.


We'll update this page when additional information about the SHIB listing becomes available, as this is a dynamic situation. To gain additional information when it becomes available, we recommend following the Robinhood Twitter account. 

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