Shiba Inu on Robinhood? Fans Bark Louder as SHIB Crypto Petition Draws 300,000 Names.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips SHIB bulls want to see Shiba Inu on Robinhood, and they might get their way after Robinhood's crypto platform takes...
Shiba Inu (CCC:SHIB-USD) fans are a force to be reckoned with. Everybody interested in the crypto space is paying attention to the community as it continues to trend upward and really surprise investors. The token has gone from an altcoin darling with a fervent fan base to a tour de force, standing on Dogecoin’s (CCC:DOGE-USD) door. And with the crypto setting yet another all-time high early this morning, talk is getting louder once again regarding a Robinhood (NASDAQ:HOOD) listing. Fans would like to see Shiba Inu on Robinhood. With the e-trade platform hitting a rough patch, the time could be ripe for SHIB bulls to have their way.
In continuing an extremely bullish October, SHIB values are surging more than 25% this morning. In fact, the gains are enough to push the token to a new all-time high of $0.000058. The gains are contributing to a seven-day increase of over 100%, which continues the token’s previous 200% surge at the beginning of the month.
Just yesterday, SHIB achieved a major milestone, passing Terra (CCC:LUNA-USD) in market capitalization. This overtaking makes Shiba Inu the eleventh-largest cryptocurrency in the world by market cap. Today, that position is becoming extra interesting. Dogecoin just fell below USD Coin (CCC:USDC-USD) and is now the tenth-largest crypto. This juxtaposes the two largest pup-themed coins. Indeed, the token originally branded as “the Dogecoin killer” finally has a chance to be on top.
Bulls Call to Get Shiba Inu on Robinhood as SHIB Surges, HOOD Crypto Trading Drops
Robinhood is seen as a huge next step for the SHIB token. Users want to get Shiba Inu on Robinhood. The platform would expose more people to the token and to make it more easy to purchase; indeed, Robinhood’s crypto-buying platform has proven quite successful for the company, generating $233 million for it in Q2. Most of that revenue, according to the company, comes from trading of Dogecoin.
The time is especially ripe for Dogecoin right now, too; it seems that Robinhood will need to try and reinvigorate its platform. Robinhood is delivering its Q3 earnings, and the numbers aren’t pretty — especially in terms of crypto. Revenue generated from crypto fell from $233 million last quarter to just $51 million in Q3. Adding new cryptos is something that Robinhood said it was open to, and it might need to do just that to rebound.
Enter Shiba Inu, the currently surging altcoin with a die-hard community and a longstanding pitch for a Robinhood listing. A petition from SHIB bulls asking for a listing on the platform is surpassing 330,000 signatures and counting. Over 130,000 of these signatures come in the last two weeks alone.
This series of events — Robinhood’s revenue tanking, SHIB’s price surge, the rapidly growing petition — all add up to a solid case to get Shiba Inu on Robinhood. It will be quite interesting to see how Robinhood navigates the coming days and whether or not SHIB holders will finally get their way.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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