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Could Shiba Inu Finally Get Listed on Robinhood?

Could Shiba Inu Finally Get Listed on Robinhood?
Written by publisher team

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A media outlet tweeted yesterday that “Dogecoin Killer” may be available on the exchange next month. No comment yet from Robinhood.


the main points

  • A Wednesday tweet from news site ZeroHedge stated that Robinhood could list Shiba Inu for trading as soon as February – no response from Robinhood requesting comment.
  • The CEO of Robinhood has said several times in the past that the popular mobile trading app has no plans to add Shiba Inu (SHIB) to its cryptocurrency list.
  • A Change.org petition to persuade Robinhood to reconsider its position currently has more than 555,000 signatures.

Cryptocurrency Shiba Inu (SHIB) proponents have been calling for months to try to convince popular mobile trading app Robinhood to include the meme coin. In fact, a petition launched last summer to persuade Robinhood to adopt the code currently has over 555,000 signatures — more than half way to its goal of 1 million sites. It’s possible that these kinds of efforts would get a lot of attention.

High-traffic news outlet tweets Robinhood could insert SHIB

Yesterday, the global traffic-heavy ZeroHedge news site chirp To his 1.1 million followers on Twitter this statement read, “Shiba Inu Robinhood’s statement said it would come early in February – it’s about six months too late.” As of this writing, Robinhood has not responded to requests to confirm or deny the claim.

However, during his earnings call last October, Robinhood CEO Vlad Tenev stated that he is extremely cautious when considering whether or not to add new coins or tokens to his offering. “We feel very good about the coins we are currently listing on our platform and any new coins we are adding that we want to feel equal, if not better,” said Tenev.

Regardless, yesterday’s rumor pumped SHIB’s price by more than 15%, but it has since plummeted and is down 3.5% in the past 24 hours according to CoinMarketCap.com.

Shib has seen ups and downs – more drops lately

SHIB was created anonymously in August 2020 as an Ethereum-based alternative to the Scrypt-based Dogecoin network. The Scrypt network has low functionality because it is designed for cryptographic mining of some Proof of Work block chains. In 2021, thanks to the public support of Elon Musk and Ethereum founder Vitalik Buterin, SHIB became very popular and saw stratospheric prices soar by 49.000.000% in a few months.

However, things quickly returned to Earth for the self-proclaimed “Dogecoin Killer”. SHIB stock is down 62% today since hitting a record $0.00008845 in October 2020. Along the way, SHIB developers have worked to build the Shiba Inu ecosystem, launching its decentralized exchange system, a set of 7777 ShibaNFTs, as well as Companion coins complement SHIB. It certainly strives to develop a joke meme into a symbol of actual use.

But is this enough? The Fed plans to raise interest rates three times this year, which will disproportionately affect highly speculative assets such as SHIB, as investors seek to play safer. The listing on Robinhood could be just in time to help protect SHIB from further price slippage after the inevitable interest rate hikes to try to slow eight straight months of 5% annual inflation. We’ll have to find out if this dog ever made his day at Robinhood.

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