After six months of strong lobbying by its users, the Shiba Inu cryptocurrency has finally been listed for trading on Robinhood. As a result, the value of the cryptocurrency has skyrocketed.
In addition to Thursday’s introduction of the meme coin, the trading app is expanding its crypto products. Additionally, Solana (SOL), Polygon (MATIC), and Compound (COMP) have been added to the site. Early on Tuesday, each of the tokens saw a significant increase in value.
More than 2 million people on the company’s waitlist now have access to its crypto wallet, allowing them to conduct more cryptocurrency transactions.
In order to buy NFTs, members of Robinhood can use the wallet, but it cannot hold NFTs and has a restriction on the number of cryptocurrencies it can trade.
The Impact on the Price of Added Cryptocurrencies
As of 10:00 a.m. ET, Shiba Inu was up more than 21%. Solana gained 5%. increased by approximately 7%. Polygon’s worth, on the other hand, was almost 8% greater.
SHIB is currently trading at $0.00002799 per coin. According to Bitcoin.com Markets statistics, it has increased by more than 20% in the last 24 hours and by more than 5% in the last seven days.
About Shiba Inu
One of the most popular altcoins, Shiba Inu (SHIBUSD), is based on the Ethereum platform and bears the Shiba Inu’s face as its mascot.
Proponents of Shiba Inu refer to it as “the Dogecoin killer” since it is seen as an alternative to Dogecoin.
Meme coins, such as Shiba Inu and Dogecoin, are based on a particular topic, in this case, the Shiba Inu dog, but are released more as a parody or inside joke than as a useful digital commodity.
Ryoshi, an unknown group or individual, launched Shiba Inu in August 2020 as a response to Dogecoin, which was introduced in December 2013.
***
