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Shiba Inu (SHIB) Rallies 8% on Robinhood Listing Rumors

Wed, 01/12/2022 - 16:10
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Alex Dovbnya
Shiba Inu (SHIB) has surpassed Polygon (MATIC) because of fresh Robinhood listing rumors
Shiba Inu (SHIB) Rallies 8% on Robinhood Listing Rumors
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The price of Shiba Inu (SHIB) spiked more than 8% after several squawk accounts tweeted that the meme cryptocurrency would be finally listed by online trading platform Robinhood in February.

SHIB
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The canine cryptocurrency has managed to regain 13th place by market cap, surpassing Polygon (MATIC).  

Polygon
Image by coinmarketcap.com

The rumors were then picked up by the Twitter account of libertarian financial website Zero Hedge, which has more than 1.1 million followers.

The price of the meme coin peaked at $0.00003240 after the sudden price spike before paring some gains. 

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The market-moving rumor appears to have originated from a Twitter account called “First Squawk,” which is notorious for spreading fake news.      

In October, the very same account tweeted that Shiba Inu would be listed on Robinhood, citing an anonymous source. This was denied by the company.

In February, “First Squaw” tweeted that the U.S. Securities and Exchange Commission was investigating Tesla CEO Elon Musk over his Dogecoin tweet. The (obviously false) rumor wasn’t left unnoticed by the centibillionaire himself.

U.Today has reached out to Robinhood to confirm whether or not the most recent tweet is fake as well.

A Change.org petition to get Shiba Inu listed on the popular online trading platform has amassed more than half a million signatures to no avail.

In November, Christine Brown, Robinhood Crypto's chief operating officer, said that the company wasn't in a hurry to add support for new cryptocurrencies, claiming that it prioritizes quality over quantity.      

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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.