Shiba Inu (SHIB) crypto token is probably not a joke anymore. After listing on several global crypto exchanges like Coinbase and Binance, the dog-themed memecoin has now been listed on Robinhood Markets. 

Listing on Robinhood platform had been a longstanding demand of Shiba Inu community.  Along with Shiba Inu, Robinhood has also listed Solana’s SOL, Polygon’s Magic and Compound’s COMP tokens.

Robihood is popular among day traders. It recently rolled out wallets to enable customers send and receive their tokens. 

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“We’re excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto,” Steve Quirk, Chief Brokerage Officer at Robinhood said in an official blog on Tuesday (April 12, 2022).

“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,” he added. 

Will Shiba Inu price jump more?

Since its listing on Robinhood, Shiba Inu price witnessed a 35% surge in a single day. However, experts believe the SHIB price will correct as the current surge is only due to the euphoria of listing on Robinhood. At the time of writing this, SHIB price was up 20% over the last day. 

“SHIB is one of the most popular meme-coin and its listing on Robinhood was awaited for a long time. Robinhood announced yesterday that it has listed SHIB on its platform for trading which resulted in a 35% surge in SHIB prices in a single day. The surge in SHIB prices is mainly due to the euphoria created around the Robinhood listing and we can expect some price correction in the days to come,” Shivam Thakral, CEO of BuyUcoin said. 

“The SHIB rally could spark an upward trend in the meme-coin space and it will be interesting to watch the price movements of other meme-coins in the coming weeks,” he added. 

Shiba Inu (SHIB) is an Ethereum-based (ERC-20) token that is hosted on the Ethereum blockchain. It was launched as an alternative to Dogecoin (DOGE) in August 2020 by an anonymous person or group under the name Ryoshi. According to its founders, SHIB was created as an experiment in decentralised spontaneous community building.  

(Cryptos and other virtual digital assets are unregulated assets in India. Investing in them could lead to losses. Please consult a professional financial advisor before making any investment decision in crypto)