Market

The Shiba Inu climbs to a new record

The Shiba Inu climbs to a new record

Robinhood Markets’ ability to add Shiba Inu to their platform set the digital currency to a new record.

Shiba Inu (SHIB) – a Dogecoin derivative – has gained nearly 30% in the past 24 hours, according to CoinMarketCap. It is currently the eleventh largest digital coin with a market value of almost 24 Billion USD.

A petition on Change.org asked Robinhood to add Shiba Inu to their platform and has over 326,000 signatures. During the October 26 financial results meeting, Robinhood CEO Vlad Tenev considered adding new cryptocurrencies to the platform.

“We feel very good about the digital currencies listed on the platform, and with potentially new coins on the platform, we want to feel the same, if not better, more,” said Mr. Tenev.

Coinbase Global Exchange added SHIB tokens in September 2021.

Cryptocurrencies have become an important part of Robinhood’s growth momentum. Last month, Robinhood announced it was offering a virtual wallet, a tool that allows investors to send and receive digital coins. The company says more than 1 million customers are looking forward to the virtual wallet service. In its most recent filing for approval, Robinhood said 64% of its virtual currency revenue comes from Dogecoin.

The price of the Shiba Inu has fluctuated a lot recently. Previously, the digital currency was rejected after Elon Musk tweeted that he doesn’t own Shiba Inu and is only buying Bitcoin, Ethereum and Dogecoin.

Shiba Inu was created in 2020 by an anonymous person named Ryoshi, and the coin’s website describes it as “a decentralized meme token that has evolved into a living ecosystem”.

This coin appears to have been created to follow Dogecoin, a cryptocurrency created as a joke in 2013 that also represents the Shiba Inu, a Japanese breed of dogs. Dogecoin then became a popular cryptocurrency that was used to pay for some services from some soccer teams, AMC cinemas, etc.

According to CoinGecko, Dogecoin has also recovered in the past 24 hours. Market value is approximately 34.6 Billion USD, while Shiba Inu’s market capitalization is at 24. has risen Billion USD.

Vu Hao (according to Bloomberg)

.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Dogecoin Price Gets $5 Prediction, Shiba Inu To Rally 1,100%, And ETFSwap (ETFS) To Jump 135x

Here are the latest predictions for Dogecoin, Shiba Inu, and ETFswap.

18 mins ago

AVAX Hits $1B in DeFi, Cardano Expected to Surge—BlockDAG Leads with $110M Presale & 100% Bonus!

Discover BlockDAG's 100% bonus and $110M presale surge that’s sparking interest among crypto enthusiasts. Also,…

18 mins ago

Crypto Institutional Investors Move To ETFSwap (ETFS) Amid $500 Million Liquidity Injection Expectations

Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…

3 hours ago

Buyers Rush to Maximise Gains with BlockDAG’s 100% Bonus Offer; Plus, ETH Holds Strong as Solana Challenges Rivals

Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…

5 hours ago

Thai Police Corruption Case Involving Officers and Extortion

Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…

8 hours ago

SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi

SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…

9 hours ago

This website uses cookies.