Shiba Inu Surges 16% After Rumors of Robinhood Listing


Shiba inu (SHIB) jumped 16% on Thursday, main the features amongst main cryptocurrencies, amid rumors of a list 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.

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

The worth bump got here shortly after rumors of a list on Robinhood did the rounds on Twitter.

“Shiba Inu Robinhood listing said to come 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 back to safety first, right. So we’re not generally going to be the first to add any new asset. We want to make sure that it goes through a stringent set of criteria,” he stated in an interview with CNBC.

Additionally, shiba inu was listed on Bitso, one of Mexico’s largest crypto exchanges by buying and selling volumes. However, the announcement did little to have an effect on costs, buying and selling information exhibits.

The bump in shiba inu noticed different memecoins, akin to dogecoin (DOGE), gaining as a lot as 14% up to now 24 hours. Baby doge and floki inu, two meme tokens issued on the Binance Smart 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 per week of declines. Bitcoin rose to the $43,000 stage on Wednesday as Federal Reserve chair Jerome Powell stated the state would take measures to curb inflation within the coming months, as reported.