On Monday, global financial news squawk handle @FirstSquawk tweeted, citing an unnamed source, that Robinhood was said to “list SHIBA INU to its platforms.” The rumor was also posted by other Twitter handles.
At the time of writing, Shiba Inu was trading 0.92 percent lower at $0.00002796 after trading for 24 hours. It has dropped 9.11 percent in the last seven days.
$SHIB reportedly coming to Robinhood
— Market Rebellion (@MarketRebels) October 18, 2021
In response, the online brokerage stated that it had made no announcements concerning Shiba Inu or any other coins.
Robinhood has not stated when it intends to launch other cryptocurrencies on its platform. On the platform, crypto enthusiasts can currently trade up to seven coins, including Bitcoin, Ethereum, and Dogecoin, among others.
As the time of writing, Shiba Inu was trading between an intraday low of $0.00002642 and a high of $0.0000295. The coin was mentioned in 4,178 tweets, making it the second most-mentioned coin on the social media platform after Bitcoin, according to Cointrendz.
This week, it was reported that an anonymous buyer paid nearly $1.2 billion for Shiba Inu.
Shiba Inu soared Monday after Tesla CEO Elon Musk posted a tweet that featured a rabbit-like figure holding a rocket.
Petition to list Shiba Inu coin (SHIB) on Robinhood
The response to ‘list Shiba Inu coin on Robinhood’ petition (on Change.org) has been overwhelming, with over 270,000 signatures collected in total at the time of writing.
When that number reaches 300,000, this petition will be one of the most popular on the website.
Predictions for Shiba Inu’s SHIB coin to reach the 1 cent price level have gained traction as the project pursues supply burn schemes. Against this backdrop, a Robinhood listing would only serve to amplify the current bullish mania.
To recap, the Shiba Inu token is based on Ethereum’s ERC-20 smart contract protocol and employs a proof-of-stake (PoS) mechanism. SHIB is the project’s foundational currency and it can be bought on various alternatives to Robinhood.
There are currently 394.796 trillion SHIB coins in circulation out of a maximum supply of one quadrillion.
UPDATE October 26, 2021
Shiba inu cryptocurrency has continued to rise, reaching a new all-time high on Tuesday.
Shiba Inu reached an all-time high of $0.000044 on Sunday, according to Coindesk, but has since dropped 8.6 percent to $0.00003827 after Elon Musk stated that he does not own the meme coin.
But it surged again on Tuesday..
The coin was worth US $0.00004830 at the time of writing. Its 24-hour peak was US $0.00004950 shortly after 4PM EST Tuesday, the highest it has ever been.
While this may not appear to be much, it represents a significant increase over SHIB’s starting price on August 1, last year — US$0.000000000972.
Shiba inu investors are flocking to the coin amid rumours that it is about to be listed on Robinhood’s trading exchange.
Robinhood sent out a survey to users, asking which cryptocurrencies they trade, and included shiba inu as an option, which made investors happy.
A spokesperson for Robinhood, however, said that it has not yet decided whether to include shiba inu in its lineup.
Update on Change.org petition
At the time of writing, a petition on Change.org urging Robinhood to include SHIB had nearly 327,076 signatures.
Robinhood has not directly responded to the petition but stated its intention to add more altcoins to the platform.
This article has been updated with latest info on Oct 26, 2021.
