Recently, Robinhood, a crypto trading platform, added Shiba Inu to its Crypto listings. As a result, Shiba Inu’s value has witnessed a rise again, following a tough couple of weeks. SHIB was listed among three new cryptocurrencies — Compound (COMP), Polygon (MATIC), and Solana (SOL) — on the US-based stocks and crypto trading platform. As soon as Shiba Inu’s news of getting listed spread, its value saw a 35% hike on the Crypto exchanges. Shiba Inu reached a two-month high before retracing due to market volatility.
Earlier, another meme coin, Dogecoin, has already experienced a favourable user engagement with Robinhood. When DOGE was listed on Robinhood’s Crypto Listings in 2018, the meme currency contributed over 30% of the company’s crypto trading income.
In a statement, the Chief Brokerage Officer at Robinhood, Steve Quirk, said, “We’re excited to add more choices for our customers. 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.”
Let’s talk about Shiba Inu.
Shiba Inu (SHIB) is a token that aims to be Ethereum-compatible with Dogecoin (DOGE). SHIB, like DOGE, is designed to be plentiful, having a one quadrillion coin initial circulating supply. The Shiba Inu community has also funded some projects like the NFT art incubator and Shibaswap, a decentralized exchange.
SHIB was released in August 2020 by an unknown developer named Ryoshi. The project started with a total quantity of one quadrillion tokens, which is an enormous amount.
Just a few different crypto exchanges let you purchase, send, and receive SHIB. Furthermore, SHIB is also compatible with the Ethereum ecosystem because it is issued as an Ethereum token.
Future of Shiba Inu
On Wednesday, April 13, the cryptocurrency began trading with a massive profit of almost 18%
The much-anticipated introduction of Shiba Inu’s metaverse might have had a role in the cryptocurrency’s overnight value increase.
The designers of Shiba Inu have been tantalizing the community members with clues about the upcoming game ‘SHIB: The Metaverse.’ In this metaverse, 100,595 virtual land parcels will be available for purchase.