Shiba Inu crosses new high as petition to list coin on Robinhood crosses 325,000 signatures

#Blockchain #Cryptocurrency #Robinhood

More than 326,000 people have signed a petition requesting Robinhood to add Shiba Inu
Shib rose more than 20% when a whale acquired 276.6 billion shib tokens
Shib has market valuation of approximately $24 billion

Written By:Yash

Updated: October 26 2021 10:15:02 PM ET

The increased demand for Robinhood Markets Inc. to include the Shiba Inu coin on its platform is pushing the cryptocurrency to new highs. The meme coin has climbed to a fresh all-time high, attracting new investors. According to CoinGecko statistics, the digital coin, which began as a joke based on a meme, increased by 6.5% on Sunday, 17.4% on Monday, and 15.1% in the past 24 hours.

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More than 326,000 people have signed a petition on Change.org requesting that Robinhood add Shiba Inu cryptocurrency. During a business earnings call on Tuesday, Robinhood CEO Vlad Tenev stated that the company is “carefully” evaluating adding new coins to its platform. Shiba Inu rose more than 20% on Tuesday when an unknown crypto whale acquired 276.6 billion Shiba Inu tokens for almost $11.5 million, according to statistics from WhaleStats, which records the activity of the 1,000 biggest ether wallets.

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Crypto has become increasingly important to the expansion of Robinhood. The brokerage said last month that it will begin offering crypto wallets, a technology that allows investors to transfer and receive digital currency. The corporation previously stated that the waitlist for that product had surpassed 1 million users. According to its most recent report, Dogecoin accounted for 64% of its crypto earnings.

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Trading Shiba Inu has been unpredictable. The cryptocurrency fell earlier this week when Elon Musk tweeted that he didn’t own it. In a subsequent tweet, he revealed that he had purchased Bitcoin, Ether, and Dogecoin, and “that’s it.”

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Shiba Inu was founded in August 2020 by an unknown individual who went by the name “Ryoshi.” The coin was established as a spin-off of dogecoin. With a market value of approximately $24 billion, it is now the 11th largest cryptocurrency.