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Robinhood Is Teasing Shiba Inu Community as Petition to List SHIB Comes Close to 500,000 Signatures

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Thu, 11/04/2021 - 06:23
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Alex Dovbnya
Robinhood appears to be courting the Shiba Inu community amid listing rumors
Robinhood Is Teasing Shiba Inu Community as Petition to List SHIB Comes Close to 500,000 Signatures
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No-fee online trading app Robinhood mentioned Shiba Inu in its multiple-choice question about determining the strength of cryptocurrency projects. 

The question was published as an Instagram story as part of the company’s #RobinhoodLearn initiative. 

Its followers were asked to choose among three options: the community, Elon Musk’s endorsements, and the number of Shiba Inu comments. 

SHIB
Image by instagram.com

In a separate tweet, Robinhood, of course, clarified that cryptocurrencies are as strong as their communities, which are comprised of holders, developers, miners and other groups of users. 

Nearly 500,000 signatures

The clamor of Shiba Inu fans has been extremely hard to ignore for Robinhood. 

A Change.org petition to add the canine cryptocurrency to the popular online brokerage platform has now collected a whopping 485,000 signatures. 

Robinhood
Image by change.org

Each tweet posted by Robinhood is inundated with calls to add SHIB. 

The proponents of the hottest meme coin argue that the listing could be a shot in the arm for the company’s struggling cryptocurrency business. 

As reported by U.Today, Robinhood’s crypto trading revenue saw a massive 78% quarter-over-quarter drop, which was mainly attributed to waning interest in Dogecoin

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Robinhood is in no hurry to list SHIB

Despite immense demand, Robinhood is biding its time in adding Shiba Inu to its trading platform.

As reported by U.Today, the company recently started emailing a survey about their users’ altcoin purchases that included the meme cryptocurrency.

However, CEO Vlad Tenev has made it clear that the online brokerage was not in a hurry to list SHIB, citing safety concerns:      

I think it goes back to safety first. We are not generally going to be the first to add any new asset. We wanna make sure that it goes through a stringent set of criteria.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.