TL;DR Breakdown:
- Robinhood has included Shiba Inu in its market research.
- The community is bullish that this could be a sign that the Dogecoin killer may be listed on the platform.
- SHIB soared over 20% following the development.
A few days ago, the market value of Shiba Inu (SHIB) spiked momentarily following rumors that the popular retail trading platform Robinhood was going to list it. This time, however, there is a piece of evidence to believe that Robinhood may be considering listing the SHIB token in the future, and this has awoken the price to almost its all-time high (ATH).
SHIB spikes over 20% in 24 hours
It was learned today that Robinhood has been circulating an email to selected customers on what cryptocurrencies they purchased within the last three months.
The Shiba Inu token was included as an answer, although it’s not yet supported for trading on the platform. For the SHIB community, this was a clear indication that Robinhood is conducting market research to understand what cryptocurrencies the customers are interested in and probably a chance to get the token finally listed on the platform.
Amid the development, the price of Shiba Inu spiked over 20 percent as many investors rushed to accumulate more tokens. This is evident as the trading volume increased from $1.22 billion to over $3 billion within a period of two hours. At the current time, SHIB has slightly dropped to $0.00003238, which is about 16% away from the all-time high of $0.0000388 in May, according to CoinMarketCap data.
Shiba Inu market is expanding
Shiba Inu recently made headlines in the past day following its recent rally. This further brought the token to the limelight, which subsequently attracted more investors and exchange support. SHIB gained listing on a major Turkish exchange BTCTurk, including Indian-based ZebPay. Earlier this month, NOWPayments also supported the meme cryptocurrency as a payment currency.
These developments are bullish and extend the accessibility and utility of cryptocurrency, which is what people look out for. So far, Shiba Inu has attracted over 760,000 holders. Meanwhile, SHIB has also started trading on Robinhood’s rival, Public.com, and a listing on Robinhood would be more of a milestone for the community.
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