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Robinhood Shiba Inu Listing – Is Shiba Inu A Good Investment?

4 Mins read

Welcome to bulliscoming media, the recent news proliferation through the internet – most especially the crypto community is the Robinhood Shiba inu listing.

It’s very exciting seeing Shiba inu listed on the Robinhood platform because it’s what Shiba inu lovers have been petitioning for Shiba token to be listed on the Robinhood platform since last year.

However, it’s a dream come true and most investors have been asking if Shiba inu is a good investment or not.

Hence, we will be looking into the details of the Robinhood Shiba inu listing and also analyzing to consider if Shiba inu is a good investment. Before then, let me briefly give you details about the Shiba inu and Robinhood platform.

What Is Robinhood?

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According to Investopedia, Robinhood has positioned itself to be ideal for younger investors who want to get skin in the game—even if that means in small quantities through fractional shares. 

Robinhood’s overall simplicity makes the app and website straightforward to navigate. If you’re interested in trying cryptocurrency investing, Robinhood can help. You will be able to use their platform to trade Bitcoin, Ethereum, and more. Robinhood has also expanded its options trading platform, making the broker a potential choice for options traders, although there are concerns about the quality of trade executions.

What Is Shiba Inu?

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Coinmarketcap gives detailed information about Shiba Inu and it goes thus; Ince upon a time, there was a very special dog. That dog was a Shiba Inu, and this dog-inspired millions of people around the world to invest money into tokens with the dog’s image on them.

According to the SHIBA INU website, SHIB is the “DOGECOIN KILLER” and is listed on their own ShibaSwap, a DEX. The Shiba Inu coin was created anonymously in August 2020 under the pseudonym “Ryoshi.” Ryoshi says himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.

This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Vitalik Buterin was long believed to be the originator of Shiba Inu but denied such rumors on the Lex Fridman podcast on June 5, 2021.

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM). These lesser-valued tokens have attracted investors who missed the Dogecoin pump from 0.0002 to nearly 0.75 USD.

Shiba’s success sparked an avalanche of copycats, such as BitShiba, Shiba Fantom, Shibalana, King Shiba, SHIBAVAX, and Captain Shibarrow, SHIBA2K22, SpookyShiba, and countless others. In total, there may be well over 100 Shiba Inu copies, and the number keeps rising constantly.

On Sept. 17, 2021, Coinbase, the largest U.S.-based crypto exchange, listed Shiba Inu on its platform. This news caused Shiba Inu’s price to rise by over 40% in the following two days, bringing the meme dog token into the spotlight again.

Shiba Inu has since attracted more interest from other exchanges as well. Bitso, Mexico’s biggest cryptocurrency exchange, announced in September that SHIB would start trading on its exchange. Giottus, an Indian crypto exchange, announced the same. Bitstamp, the biggest crypto exchange in Europe, said that it would list Shiba Inu for trading at the beginning of 2022. Korbit, a South Korean exchange, became the country’s first exchange to list the SHIB token in 2021.

Robinhood Shiba Inu Listing

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The popular fintech platform (Robinhood) has announced the listing of Shiba Inu alongside three other tokens which are MATIC, SOL, and COMP.

Robinhood made an announcement a few months ago which goes thus;

“Over the past year, our crypto customers have consistently asked for two things: the ability to send and receive their tokens, and a broader selection of cryptocurrencies,”

These requests from customers triggered the company’s action to offer crypto trading to their customers as they have rolled out a few cryptocurrencies to their users, which allow them to buy and sell and/or send and receive the crypto asset.

However, as the platform’s mission is to address its customer’s needs, the platform keeps on adding more to the crypto assets that will be available on the platform – according to a comment from the platform’s chief brokerage officer that goes thus;

“We’re excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto.”

At the time of the Robinhood Shiba inu listing announcement, the token has soared higher by almost 30% and it’s currently trading at the price of $0.000026.

Related: Shiba INU Price Prediction, Overview, and Expert Analysis

Is Shiba Inu A Good Investment

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Just recently, Shiba inu announced the launch of its metaverse platform which has also sparked more interest in the token among the crypto community, but despite the news, the price of the token does not increase by a significant percentage.

Hence, it’s perceived that the Shiba token is still giving much more discount to investors that have been eager to invest in the token at the right time.

However, the analysis showed that the Shiba inu token holder has dropped by a significant number – nevertheless, looking into the adoption news of Shiba inu token and its metaverse platform launch alongside the most recent news – Robinhood Shiba inu listing, it is great to say Shiba inu is a good investment.

Also read: ShibaSwap Release will Make Shiba Inu Hit New ATH

Conclusion 

While most of the technical analysis conducted on the Shiba inu token isn’t encouraging to buy as there haven’t been any best level to consider the next big move, it’s crucial to know that it’s still one of the tokens that might skyrocket when the broader crypto market is more bullish.

However, this article is just an informational article and not financial advice or recommendation to invest in Shiba inu.

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About author
Samson Olatinwo is a creative content creator, a young fellow that derives passion from creating insightful content about cryptocurrency and blockchain technology. A cryptocurrency analyst, trader & investor. samsonolatinwo3@gmail.com
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