Meme cryptocurrency Shiba Inu appears to have been listed by commission-free investing app Robinhood, according to a listing bot. The meme coin now shows up on the official website, even though the company is yet to officially announce the new addition to its line-up.
The price of the SHIB token is up 8.3% on the news, outperforming the rest of the major coins amid lethargic market action. It is currently trading at $0.00002479 on the Binance exchange.
Shiba Inu has been listed alongside Solana (SOL), Polygon (MATIC) and Compound (COMP), bringing the total number of available cryptocurrencies to 11.
The canine token had been the most-requested cryptocurrency among Robinhood users. A Change.org petition to list the whimsical cryptocurrency has reached 559,661 signatures.
Alex DovbnyaRobinhood CEO Vladimir Tenev and other high-profile executives have repeatedly dodged the burning question about whether or not Shiba Inu should be listed on the platform, fueling speculation within the community. In November, Christine Brown, the chief operating officer of the company's crypto division, made it clear that the company preferred quality over quantity, seemingly taking a dig at crypto-native competitors with less conservative listing policies.
Robinhood launched support for crypto trading in early 2018, originally adding support for Bitcoin and Ethereum. It later also added Litecoin, Ethereum Classic, Bitcoin Cash and Dogecoin to the mix during the same year. Despite the fact that the crypto market has evolved by leaps and bounds since 2018, the company had abstained from listing new coins until now.
The commission-free trading app boasts 17.3 million active users after becoming the go-to trading app choice for young millennials. Yet, its shares are down more than 86% from the August 2021 high. It witnessed a fall from grace in the third quarter of 2021 due to rapidly declining trading activity.
Dan Burgin
Vladislav Sopov