Shiba Inu Surges 16% After Rumors of Robinhood Listing

Shiba inu (SHIB) jumped 16% on Thursday, main the positive factors amongst main cryptocurrencies, amid rumors of an inventory on Robinhood.

Shiba inu costs reached as excessive as $0.00003 throughout early Asian hours on Thursday earlier than a selloff. Shiba inu is the thirteenth-largest cryptocurrency with a market capitalization of $17 billion.

Worth-charts recommend the transfer adopted a bounce from resistance-turned-support ranges of $0.000027. Nevertheless, the tokens stays in a broader downtrend, as costs have dropped 62% since reaching all-time highs of $0.00008 in October 2021.

The value bump got here shortly after rumors of an inventory on Robinhood did the rounds on Twitter.

“Shiba Inu Robinhood itemizing stated to come back as early as Feb,” a tweet by enterprise information deal with ZeroHedge learn. Robinhood didn’t return requests for remark.

Robinhood CEO Vlad Tenev beforehand denied plans for itemizing shiba inu on the influential inventory buying and selling utility in October 2021. “It goes again to security first, proper. So we’re not usually going to be the primary so as to add any new asset. We need to be sure that it goes via a stringent set of standards,” he stated in an interview with CNBC.

Moreover, shiba inu was listed on Bitso, one among Mexico’s largest crypto exchanges by buying and selling volumes. Nevertheless, the announcement did little to have an effect on costs, buying and selling knowledge exhibits.

The bump in shiba inu noticed different memecoins, reminiscent of dogecoin (DOGE), gaining as a lot as 14% prior to now 24 hours. Child doge and floki inu, two meme tokens issued on the Binance Sensible Chain, surged 10% in the identical interval.

The surge in shiba inu got here on the again of a broader restoration in crypto markets after almost every week of declines. Bitcoin rose to the $43,000 degree on Wednesday as Federal Reserve chair Jerome Powell stated the state would take measures to curb inflation within the coming months, as reported.


What do you think?

466 Points
Upvote Downvote

MMPRC begins joint advertising campaign with ITAKA targeting the Polish mar…

Marriott Guests Can Now Seamlessly Purchase Travel Insurance When They Book Directly with Marriott