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Breaking: Robinhood Lists Shiba Inu (SHIB), Prices Jump

Robinhood has finally listed Shiba Inu (SHIB) on its app, after facing pressure from the Shiba Inu community and its customers.
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Breaking: Robinhood Lists Shiba Inu (SHIB), Prices Jump

Robinhood, a commission-free trading app, has finally listed Shiba Inu (SHIB) on its app, after facing pressure from the SHIB community and its customers.

In addition to SHIB, the platform also listed Solana (SOL), Polygon (MATIC), and Compound (COMP).  The prices of all four tokens surged after the move, given that it will attract even more retail interest in the tokens.

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Robinhood Adds SHIB, SOL, MATIC, and COMP

Crypto Exchange Listing Bot, which monitors real-time exchange listing, announced in a tweet on April 12 that Shiba Inu (SHIB) has been finally added to the Robinhood app. Moreover, the automated listing bot revealed that it had detected Shiba Inu on Robinhood’s servers.

In an official announcement on its blog, Robinhood said it had listed the four tokens in the wake of growing demand from its customers.

Steve Quirk, Chief Brokerage Officer at Robinhood, said that the new listings came after the firm rolled out crypto wallets for over two million people on its waiting list. He also said that the firm would follow safety protocols to protect investors.

Currently, only buying and selling of these newly listed cryptocurrencies will be available. The deposit and withdrawal services would not be available immediately due to safety issues.

Recently, Robinhood launched crypto wallets for its customers, with about 2 million people on the waitlist.

The app is largely credited with bringing a large amount of retail interest into stock trading, given that it charges zero brokerage fees. It was also at the centre of the astronomical meme stock rally seen last year, which eventually resulted in its public listing.

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Prices Zoom Higher For Newly Listed Cryptocurrencies

Robinhood has nearly 20 million monthly active users, mostly young investors seeking to capitalize on the commission-free trading. The price of newly listed cryptocurrencies has rallied higher significantly in just a few hours.

According to CoinMarketCap, the SHIB price surged nearly 10%, with the current price trading at $0.000026. Meanwhile, the prices of SOL, MATIC, and COMP have surged nearly 3%, 4%, and 5%, respectively.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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