Table of Contents
Shiba Inu has been on a roll throughout the year as it entered the top cryptos in October. The crypto has established ties with numerous exchanges like Binance, Coinbase, and more.
Despite the numerous listings, rumors of SHIB joining Robinhood entices the market. Rumors regarding the listing started emerging a while ago, but both ventures have not released any official announcement regarding the development.
Given both projects’ stature, even minor news regarding the development causes a stir. Robinhood is widely considered one of the best trading applications among mainstream traders. The crypto-token also got listed in Public, Robinhood’s rival trading app. Despite the developments, Robinhood has downplayed the idea of listing the coin. A brief understanding of the situation can offer insights to traders.
Based on the Japanese dog breed Shiba Inu, SHIB tokens were released in 2020. Its initial price was around $0.00000001, which stayed throughout the year. The coin was inspired by the pioneer meme coin, Dogecoin. Despite Doge’s comical entrance, the crypto amassed a loyal user base across the community. This eventually motivated more projects, including Shiba Inu, released by an anonymous developer or group named Ryoshi. Unlike most Doge-inspired tokens, Shiba Inu survived the market and is in top cryptocurrencies. As of December 27th, Shiba Inu is worth $0.0000474 with a market cap of 21,017,400,463 dollars.
Founded by a couple of Stanford graduates, Robinhood is a renowned trading platform aiming to democratize finance for everyone. The platform includes cryptocurrency investing, stock trading, EFTs, and more tools.
The platform entered the market in 2013, making it one of the oldest online trading ventures. Robinhood boasts more than 31 million users, offering vast prospects to ventures globally.
The primary reason behind Robinhood’s market appeal is its commission-free trading. It does not negate regulatory or non-commission fees with a 2.5% annual interest margin above 1,000 dollars.
Despite such perks, Robinhood generates funds via margin interest cash management, rebates, stock loans, etc. With such functionalities on offer, Shiba Inu’s intentions to join the platform are natural.
There are no direct official statements concerning Shib token joining Robinhood. The COO of Robinhood Crypto, Christine Brown, stated that the platform is in no hurry to add new coins.
The executive did not list any coins, but most traders rightfully associated the announcement with Shiba Inu. Brown stated that Robinhood is varied in listing volatile currencies or tokens that can hamper its customers’ portfolio or violate any regulatory compliance.
The statement by Brown did not bode well with the Shiba Inu community as they initiated a petition on change.org to get SHIB tokens listed on Robinhood. The petition has more than 525,000 signatures, showing support for SHIB tokens.
Shiba followers even tweeted at Robinhood, stating the crypto does not need the platform to flourish. Some even added that the trading platform would eventually add Shiba Inu on its exchange.
Several renowned exchanges have already listed Shiba Inu, majorly because of its ongoing momentum. The coin even became the most viewed coin on CoinMarketCap in 2021. With its popularity surging, adding SHIB will undoubtedly propose instant returns.
Many believe that the reason behind Robinhood denying Shiba Inu’s listing is its volatility. The coin recently surged over 300% and fell equally within a week. Despite listing Dogecoin, Robinhood seems to vary in adding Shiba Inu on the exchange.
Despite Shiba Inu’s surging popularity, Robinhood Crypto COO does not intend to list the crypto anytime soon. Such a development can hinder SHIB’s growth, but not much. The popular meme coin has been listed on numerous renowned exchanges, putting pressure on Robinhood to list it.
With more than 525,000 people signing the petition to get the coin listed, Robinhood can easily sense the short-term profit. The platform is considering other options because of Shiba Inu’s wild fluctuations. The SHIB community can only hope to see the coin listed on Robinhood with no development insight. If you are going to invest in Shiba Inu then we suggest you check the price prediction of SHIB coin by an expert to avoid the losses. You can check it on google or you can find it on top notch websites.