Will Robinhood-Shiba Inu Listing Lead to Bull Run Similar to the 360% Spike in October 2021?

As Robinhood lists Shiba Inu on its platform, fulfilling the long standing demand of investors and the Shiba Inu community, the price of meme token gained over 30% in the past 24 hours outperforming major digital tokens in the crypto market on Tuesday, April 12, 2022.

The dog meme based cryptocurrency that was launched in August 2020 has garnered much attention from investors ever since it spike up to +360% in October 2021. The altcoin also known as the DOGE-killer recorded an All-Time High at $0.00008845 on October 28, 2021, which is five months ago when it had a bull run. The meme crypto token attracted large number of new investors as well.

Speaking of the Shiba Inu-Robinhood listing, Chief Brokerage Officer at Robinhood Steve Quirk said in an official blog post, "We're excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto."

Shiba Inu Cryptocurrency Coin SHIB Token

"As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform," the Robinhood CBO added.

Will Shiba Inu's Price Continue to Jump?

However, investors and crypto influencers are now wondering if the meme token will continue to jump. According to data meme token SHIB has witnessed a 35% surge in its price in a single day after the major development. But, crypto experts believe that the price of SHIB will correct as the current gain is only because of the euphoria of SHIB being listed on the Robinhood app.

Robinhood debit card
Web screen grab

Apart from SHIB, Robinhood has also listed a number of tokens including Solana, Polygon's MATIC and Compound's COMP tokens on its trading app.

SHIB Token: trading price

At the time of publishing, Ethereum-based token Shiba Inu was trading at $0.00002614, which is down by 9.57% over the last 24 hours while the largest crypto in the world, Bitcoin (BTC) was trading at a price of $40,077.40, down by 0.58% in a 24-hour trading period.

Shiba Inu is currently the 15th largest cryptocurrency in the market with a market cap of $14,530,214,297, according to the popular crypto trading platform known as CoinMarketCap.

This article was first published on April 13, 2022