Wednesday, October 5, 2022

Shiba Inu bullish run continues as petition to force Robinhood listing hits 300,000

Last month, Robinhood revealed its plans to offer crypto wallets. The waitlist for that product topped one million customers, the company said previously.

• October 27, 2021

Cryptocurrency token Shiba Inu, trading as SHIB, has risen to be the 11th-biggest crypto with a market value of nearly $24 billion, growing over 13 per cent in the past 24 hours, following data from CoinGecko.

The rise in value for Shiba Inu follows the mounting pressure on Robinhood Markets Inc. to add the coin to its platform. 

A petition was created on Change.org asking Robinhood to list Shiba Inu. The petition has garnered over 326,000 signatures.

Robinhood’s Chief Executive Officer Vlad Tenev said it’s considering adding new coins 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,” Mr Tenev told Livemint

Last month, Robinhood revealed its plans to offer crypto wallets. The waitlist for that product has topped one million customers, the company said previously. 

In September, Shiba Inu coin was listed on Coinbase for the first time, with its price increasing by 34 per cent after it was listed on the crypto exchange platform. 

It has since experienced several bullish runs from crypto investors and traders who hope to see the meme cryptocurrency listed on stock trading and investment platform Robinhood.

CoinMarketCap, a cryptocurrency data aggregator, notes that 79 per cent of SHIB lies with large holders or ‘whales’. The coin’s latest run has seen large wallet holders accumulate even more of the currency. 

The platform also placed Shiba Inu’s trading volume at $17,124,632,631.85 on Wednesday morning, with a 163.09 per cent increase in trading volume in the last 24 hours.

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