Tue. Nov 30th, 2021

WhyLose.com

Training Traders Since 2002

Dogecoin Rival Shiba Inu Lists On Robinhood Competitor

3 min read

SALT LAKE CITY, UT - APRIL 26: A pile of Bitcoin slugs sit in a box ready to be minted by Software engineer Mike Caldwell in his shop on April 26, 2013 in Sandy, Utah. Bitcoin is an experimental digital currency used over the Internet that is gaining in popularity worldwide. (Photo by George Frey/Getty Images)

Shiba Inu continues to make strides in proving that it is a worthy rival of Dogecoin. The former has rallied continuously in the past weeks while the latter has seen stagnant prices. The community has moved to list the meme coin on platforms where it could adequately compete with the OG meme coin. Support has also poured out for SHIB as platforms like Coinbase put the asset on their exchanges.

Listing on platforms where investors can easily purchase the cryptocurrency is an important step for any project. This is why the Shiba Inu community has been pushing for popular platforms like Robinhood to list the meme coin.

Related Reading | Bulls Target $0.5 As Dogecoin Readies For 1,000% Rally

Robinhood which is best known for being a platform to trade Dogecoin is being petitioned by SHIB supporters to list the altcoin. The petition has so far garnered over 280,000 signatures but the trading platform is yet to respond.

Public Takes Advantage Of Robinhood’s Silence

Public.com is one of the top competitors of Robinhood. The trading platform which allows users to trade on stocks had also begun to offer crypto trading to its clients. The Robinhood rival offers users access to Bitcoin, Ethereum, Litecoin, and Dogecoin trading, and it has now added Shiba Inu to the list.

Public announced on Twitter on Wednesday that it is adding SHIB to the lineup of crypto which members can trade on the platform. The trading platform has taken advantage of Robinhoo’s continued silence regarding the petition to bring Shiba Inu trading to users.

Shiba Inu (SHIB) price chart on TradingView.com

SHIB price trading at $0.000002805 | Source: SHIBUSD on TradingView.com

SHIB’s price did not record any significant movement following the announcement of the listing but has nonetheless been a welcome development for the meme coin’s supporters.

Shiba Inu Defies Market Expectations

The meme coin may be only six months old but it has given one of the most significant returns in the market. SHIB had rallied after momentum had slowed to a crawl following a die-down of hype. However, the meme coin which the market expected to fade into obscurity due to its lack of utility has continued to defy expectations. SHIB has posted gains of over 1,000% in the past few weeks. It touched a six-month high in the first week of October and has mainly maintained a high price range since then.

Related Reading | Shiba Inu Holders Level With Dogecoin As Robinhood Petition Surpasses 259,000 Signatures

Rumors of the meme coin listing on Robinhood had seen the price of the digital asset surge on Monday. This was fueled by the number of signatures that the petition had gotten. Despite the rumors proven to be false, Shiba Inu did not experience much of a downtrend.

The month of October has seen the altcoin cancel out a zero from its price. The surge made the meme coin the 12th largest cryptocurrency by market cap, a position that SHIB has so far maintained since it claimed it.

Featured image from Medium, chart from TradingView.com

Leave a Reply