Shiba Inu Jumps Over 20%, As Robinhood Lists The Meme Token

Shiba Inu jumped more than 20% on Tuesday, after brokerage app Robinhood said it has listed the popular meme token, along with three others, months after its supporters called for the move. 

The dog-themed token SHIBUSD, 17.44% is trading at around $0.000028, up 21% over the past 24 hours.

Robinhood also listed three other cryptocurrencies, including tokens of decentralized lending platform Compound, blockchains Polygon MATICUSD, 5.81% and Solana SOLUSD, 4.69%, according to a blog post on Tuesday. 

It adds to Robinhood’s existing listing of seven cryptocurrencies, including bitcoin BTCUSD, 0.35%, bitcoin cash BCHUSD, 2.44%, bitcoin SV BTCSVC, 0.28%, dogecoin DOGEUSD, 1.44%, ether ETHUSD, 1.19%, ethereum classic ETCUSD, 0.00%, and litecoin LTCUSD, 0.16%.

Shiba Inu’s fans have long been pushing for the token’s listing at Robinhood

A petition from Change.org to get Shiba Inu on Robinhood received nearly 560,000 signatures. The token surged more than 40,000,000% in 2021, while it has lost 32.7% year-to-date. 

“As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform,”  Steve Quirk, chief brokerage officer at Robinhood wrote in the blog post. 

Earlier this month, Robinhood rolled out crypto wallet to more than 2 million people and enabled transactions on the Lighting network, a payment protocol layered on top of Bitcoin that aims to enable fast transactions.

Bitcoin traded 1.6% lower from 24 hours ago at around $40,465, while ether gained 0.5% to around $3,060.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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