Shiba Inu Listed: Robinhood Made Crypto Twitter Go Woof!

Shiba Inu, after a long wait, has finally manifested in Robinhood’s trading list including four new cryptocurrencies on its platform. Besides the meme coin, the other assets listed are Solana’s SOL, Polygon’s MATIC, and Compound’s COMP.

Following the update, the prices of all the listed tokens surge. At press time, shares of Robinhood were up 5% since the announcement. SHIB’s price too spiked 20% on Tuesday, before falling by 11% and is currently trading at $0.00002696 as per Coinmarketcap. Other cryptocurrencies, including Bitcoin and Solana, also advanced. 

The news was received with a lot of fervor as Shiba Inu proponents rallied behind the asset to be listed on the platform, even went to initiate a change petition, gathering as many as more than 550,000 signatories in favor of the move. 

The U.S.-based commission-free trading platform, at the time said it was carefully considering all aspects such as customer demand, its listing committee deliberates factors including on-chain analysis, and security, as well as legal and financial variables, among others, before adding the new coins to its offerings.

“We’re excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto,” Steve Quirk, chief brokerage officer at Robinhood, said in a blog post. “As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform.”

Robinhood already offered seven cryptocurrencies including Bitcoin [BTC], ether [ETH], and dogecoin [DOGE].

Investors hodling Shiba Inu buying the dip

The Shiba Inu ecosystem has been teeming with a lot of positive developments. All the events that culminated in Shiba Inu’s massive intraday rally also include a period of strong accumulation, data from IntoTheBlock shows.

The meme coins have recently topped the ETH whales holdings list. Whalestats data revealed that the overall amount of SHIB owned by the top 1,000 ETH wallets is worth a whopping $1,459,250,776.

The analytics platform noted the address holding SHIB for more than a year increased its balance in the last 30 days. As a result, these “hodlers” now have control over 2.82% of the net SHIB supply in circulation.