Breaking: Shiba Inu Is Now Listed on Robinhood Should You Buy?
The decision to list the four cryptos is more likely an effort by Robinhood to slow its recent stock slide. Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming. As this is a developing situation, we’ll update this page when any more news comes out to clarify the SHIB listing information. We’d recommend following the Robinhood Twitter account to get more information as it comes. To celebrate the new listing, Robinhood is also giving away $10 in SHIB to a select group of users.
SHIB is a decentralized, community-led currency held by millions across the globe. Since its inception in late 2020, the Ethereum-based SHIB token has grown to become a worldwide phenomenon, and is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries. A couple of hours after the news broke, Robinhood confirmed it listed SHIB, alongside Solana, Polygon, and Compound.
How Many SHIBA INU (SHIB) Coins Are There in Circulation?
While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service. Supporters of the dog-themed cryptocurrency Shiba Inu (SHIB) have been clamoring for months to try and convince the popular mobile trading app Robinhood to list the meme coin. In fact, a petition launched last summer to persuade Robinhood to adopt the token currently has more than 555,000 signatures — more than halfway to its target of 1 million signatories. Since its initial listing on the NASDAQ stock exchange last July, Robinhood (HOOD) soared to an all-time high of $70.94 on Aug. 4, 2021. Today it’s trading at a steep 83% discount at $11.70 per share from August peak price.
First posted by Cryptocurrency Alerting, the official Robinhood site now has a page that lets users buy SHIB. While the coin’s price may eventually reach the moon – the odds against it are astronomically high. For consumers’ sake, Robinhood may also be wary of adding another volatile currency to its ecosystem. “I also think that our strategy is a little bit different than a lot of the other players out there who are just racing to list as many assets as possible right now.” Regardless, yesterday’s rumor pumped the price of SHIB more than 15%, but it has since retraced and is down 3.5% over the past 24 hours according to CoinMarketCap.com.
- Its price soared in 2021, multiplying many times over, but still trades for tiny fractions of a cent.
- Bear in mind that the brokerage platform remains popular with retail investors trying to gain exposure to prominent crypto names.
- Once fully developed, the mobile-based, Shiboshi-inspired game would be licensed to Shiba Inu’s developers for use on Shibarium, the native blockchain of the Shiba Inu project that is powered by the SHIB token.
- As of today, the Change.org digital petition was still live and had 559,701 signatories — more than halfway to its target of 1 million.
- Today it’s trading at a steep 83% discount at $11.70 per share from August peak price.
“By rolling out wallets we will go a long way towards addressing the primary pain point that customers feel right now,” Tenev said, alluding to the common gripe that when Robinhood xcritical customers buy cryptocurrencies they are stuck in Robinhood’s ecosystem. In the third quarter, Robinhood earned $51 million from crypto trading, less than a quarter of the previous period’s total, leading to a 35% drop in Robinhood’s overall revenue. We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others.
As part of its growing digital currency implementation, the platform will presumably look to list additional cryptocurrencies alongside the seven it currently supports. For those hoping to see a Robinhood update on a Shiba Inu coin (SHIB) listing, here’s all the latest information. Shiba Inu is one of a newer wave of cryptocurrencies, riding a surge of interest in digital assets. If you’re looking to trade the cryptocurrency — or really any digital currency — it’s important that you understand what you’re investing in and what the potential risks are. Crypto is volatile and it’s not typically backed by any assets, so avoid wagering money that you can’t afford to lose. Shiba Inu is one type of cryptocurrency, or digital currency, that is available only online.
Shiba Inu community
According to Ryoshi, he had “a fren” he met at Devcon in Osaka that sent him 10 ETH to set up the liquidity pair on Uniswap. Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, and he thus declined all the influencer requests and pitches from different exchanges he received. His “job” is to defend the brand and give suggestions, although he does so very sparingly, as his last blog entry dates back to May 2021. If the well of traders runs dry, then they won’t keep running into the market to push up the price. This speculative nature keeps legendary investors such as Warren Buffett away from crypto.
Last year, amid public support from Ethereum founder Vitalik Buterin and Tesla CEO Elon Musk, SHIB became wildly popular and realized an incredible price pump of 49,000,000% in a few months. The anonymous creator of the Shiba Inu coin is known as “Ryoshi.” However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto. Some traders see it as a type of crypto lottery ticket because they can afford, for example, 1 million of these coins (at a cost of $12). Like with penny stocks, they think that if the coin just went up to one cent, they’d make a lot of money. Or even if Shiba Inu went to where Dogecoin was trading, they’d cash in their chips. Like many other cryptocurrencies, Shiba Inu operates on a decentralized computer network running a database called blockchain.
SHIB: The Metaverse and Shibarium
The Fed plans to jack interest rates three times this year, which will disproportionately xcritical affect highly speculative assets such as SHIB, as investors seek safer plays. A listing on Robinhood could be perfectly timed to help protect SHIB from further price slippage following inevitable interest rate hikes to attempt to slow eight straight months of 5%-plus year-over-year inflation. This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional. The new crypto wallet that Robinhood plans to launch in early 2022 may also make it unnecessary for Robinhood to list coins like Shiba Inu.
Who Are the Founders of SHIBA INU?
Currently, Robinhood users can buy and sell cryptocurrencies like Bitcoin but cannot trade them between other platforms. A crypto wallet will still limit users to buying and selling Robinhood-approved currencies, but the wallet will let users transfer their holdings to outside accounts from which they can trade assets on other platforms. SHIB was created anonymously in August 2020 as an Ethereum-based alternative to Dogecoin’s Scrypt-based network.
It Is Finally Happening: Shiba Inu (SHIB) Is Now Expected to List on Robinhood in February 2022
Vincent Lau, managing director of international operations at crypto exchange Huobi Global, says that while SHIB’s bull run may falter, he thinks the coin is likely here to stay. Robinhood xcritical rezension may also be wary of the threat of new crypto rules and regulations. In early October, after Securities and Exchange Commission head Gary Gensler said he wanted all crypto platforms to be registered with the SEC, Robinhood released a statement explaining that such regulation could “adversely affect” crypto markets.
Over 1 million people—representing a third of Robinhood’s users at the time—signed up to join a wait list before Robinhood launched crypto trading in 2018. Shiba Inu (SHIB), a Dogecoin-inspired decentralized cryptocurrency, is catching a fresh bid from investors today amid reports that the nascent token would be listed on the popular retail brokerage platform Robinhood in February 2022. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
His writing has appeared in outlets including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!. If user demand is a factor in whether or not a SHIB Robinhood listing materializes, then things are looking positive. There’s a ton of support amongst Shiba Inu coin holders for the meme currency to list on Robinhood for Android and iPhone (iOS); some are seemingly even calling Robinhood with what amounts to a sales pitch. WhaleStats compiled data of the largest ETH wallets and found that SHIB represents over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales. The experiment was a succes, and in October 2021 SHIB briefly flipped Dogecoin to become the most-valued meme coin by market capitalization. Robinhood executive Christine Brown has lauded the efforts of the Shiba Inu community, saying that one of her favorite things was seeing it engage with the community to make its wishes heard.
This blockchain database tracks and manages the crypto coin, verifying transactions and recording every transaction that occurs with it. So the database ends up being a long-running record of the movement of the cryptocurrency. Specifically, Shiba Inu runs on the Ethereum blockchain, offering the safety and functionality of that platform.
