Shiba Inu (SHIB) Adds Another 28% Amid Growing Support for Robinhood Listing

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SHIB Price Analysis: New Year Rings Recovery Bell For Shiba Inu

Meme cryptocurrency Shiba Inu (SHIB) continues with its unstoppable market rally. The Shiba Inu price has shot up another 28% hitting a new all-time high above $0.000050. As of press time, SHIB is trading at $0.00005357 as it topples Terra’s LUNA for the spot of 11th largest cryptocurrency by market cap.

The growing clamor around Shiba Inu is because of the high possibility of Robinhood adding support for the meme crypto cryptocurrency. If the popular trading app introduces trading for SHIB, it could usher massive trading volumes for the meme cryptocurrency.

A petition on that requests Robinhood to list Shiba Inu has now garnered more than 326,000 signatures. Speaking to Bloomberg, Robinhood Chief Executive Officer Vlad Tenev said that they are carefully considering the option to add this meme crypto to its offerings.

“We feel very very good about the coins that we’re currently listing on our platform and any new coins that we add we want to feel equally, if not more good,” Tenev said.

Traditional brokerage and apps, including Robinhood, have been seriously considering adding the crypto trading facility to their platform as it becomes critical to their growth. Last month, Robinhood also announced that it is considering adding crypto wallets making it easier for its users to send and receive digital assets.

Also, meme cryptocurrencies have contributed significantly to Robinhood’s crypto revenue. As per its last filing, Dogecoin contributed 64% of the app’s crypto revenue.

Elon Musk’s Tweet Doesn’t Affect SHIB Investors

Earlier this week, Elon Musk responded to a tweet saying that he doesn’t own any SHIB crypto in his portfolio. Musk’s comments introduced some volatility in the SHIB price on Monday. However, it hasn’t deterred the Shiba Inu tribe from continuing the mega bull run. It looks like the investors are determined to push SHIB into the top ten crypto list.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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