Shiba Inu surges 8 million per cent to reach new all-time high amid Robinhood rumours. The blockchain is smashing through its all-time highs after rumours started swirling about a major change coming for traders.
The SHIB token, as it’s known, has risen with a record percentage in the past 24 hours. It is currently the 11th-biggest crypto with a market value of nearly $24 billion. And is set to enter the Top 10 cryptocurrencies of the world.
Trading in Shiba Inu has been volatile on its way up. The crypto slumped earlier this week after Elon Musk tweeted that he didn’t own the coin. In a follow-up tweet, he said he had bought Bitcoin, Ether and Dogecoin, and “that’s it.”
By 7 am Wednesday, the coin was priced at US$0.00004830. Its 24-hour peak was US$0.00004950 — the best it has been to date. The token was up 85,904,244.6 per cent since its all-time low in November 2020.
Shiba Inu, as the Eleventh-largest blockchain, is now roughly identical to worldwide cereal giant Kellogg’s.
Robinhood Rumors Fueling Shiba Inu
The growing clamour for Robinhood Markets Inc. to add the Shiba Inu coin to its platform is helping boost the cryptocurrency to record highs.
A petition on Change.org asking Robinhood to list Shiba Inu – a Dogecoin-inspired meme cryptocurrency – now has more than 326,000 signatures. On Tuesday’s earnings call, Robinhood Chief Executive Officer Vlad Tenev said it’s “carefully” considering adding new coins to its offerings.
“We feel very very good about the coins that we’re currently listing on our platform and any new coins that we add we want to feel equally, if not more good.”– Vlad Tener, Robinhood Chief Executive Officier
According to the recent tweet by a prominent SHIB Twitter account, Robinhood might be considering adding the meme coin to the list of trading assets.
Crypto has become more critical to Robinhood’s growth. Last month, the brokerage said it planned to offer crypto wallets, a tool that allows investors to send and receive digital currencies. The waitlist for that product has topped 1 million customers, the company said previously. According to its last filing, 64% of crypto revenue came from Dogecoin.
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