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Shiba Inu is Finally on Robinhood! Price up by 35% Overnight

Shiba Inu is Finally on Robinhood! Price up by 35% Overnight

Shiba Inu

After six months of violent pressure from its members, Shiba Inu is finally listed on Robinhood for trading.

Since the January low, Shiba Inu has started to form a much-anticipated wedge pattern for the bullish trajectory. Although the currency was trading below the two contracting trend lines, it indicated a breakout to the upside once the price closed above the upper trend line of the structure. The upside was triggered by speculation that Robinhood would be listed at SHIB tokens as early as February. But finally, after six months of violent pressure from its members, Robinhood has listed the Shiba Inu cryptocurrency for trading. As a result, the cryptocurrency soared.

Thursday’s launch of the meme coin was part of a larger expansion of the trading app’s crypto offerings. Solana (SOL), Polygon (MATIC), and Compound (COMP) are also listed on the site. Both coins rose sharply in early trading on Tuesday. Shiba Inu stock is up more than 21 percent as of 10:00 AM ET. Solana saw gains of 5 percent. The compound jumped nearly 7 percent. Polygon’s value was approximately 8 percent higher.

“We’re excited to add more options to our customers,” Steve Quirk, Robinhood’s chief brokerage, said in a statement. “We have a rigorous framework in place to help us evaluate assets for inclusion, and we remain committed to providing a secure and educational crypto platform.”

News of the additional offering comes days after Robinhood made its crypto wallet available to two million waitlisted users, allowing them to interact directly with cryptocurrencies. Members can use the wallet to buy NFTs and send crypto to other crypto traders without withdrawal fees, but they cannot hold NFTs and are limited to cryptocurrencies traded by Robinhood. In addition to today’s additions, the platform allows users to buy and sell Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin.

What is the Shiba Inu symbol?

Shiba Inu is an ERC-20 token on the Ethereum network, which enables developers to build the ShibaSwap DEX and combine other tokens and NFTs in the platform ecosystem. Shiba has a maximum supply of 1 quadrillion tokens, which is much higher than most cryptocurrencies. The expanding volume of the token has caused Shiba’s price to be much lower than most assets of similar market capitalization.

What is motivating the price of the Shiba Inu this bull season?

According to enthusiasts, there are two main factors besides retail driving the Shiba Inu price up. Currently, SHIB runs on Ethereum. Fortunately, the cryptocurrency is planning to launch a blockchain or layer two solution. By doing so, Shiba Inu will be able to get rid of the high cost that investors have to incur while trading on the Ethereum network.

On the other hand, investors are also going berserk from Shiba Inu’s entry into the Metaverse space. Although it is still speculation, it appears that the memecoin world is interested in this move. The cryptocurrency recently announced on social media that it will unleash “Shiberse” this year.

Shiba Inu Price Prediction: Is the Coin a Buy, Hold or Sell for Investors?

What is long range projection? Will the price bounce back? Will Shiba Inu futures see $0.001 target price? Algorithm-based forecasting services gave moderately bullish SHIB predictions.

DigitalCoin’s Shiba Inu price forecast forecast that the price will rise more slowly based on historical data, predicting that the Shiba Inu price target will be $0.0000033 in 2022 and $0.00053 in 2025, with an average of $0.000126 in 2030.

It is important to keep in mind that the cryptocurrency markets remain very volatile, which makes analysis difficult to accurately predict what the price of a coin will be in a few hours, and even difficult to provide long-term estimates. As such, algorithm-based analysts and forecasters can make mistakes in forecasting the SHIB price.

It is highly recommended that you always do your own research, and consider the latest market trends, news, technical and fundamental analysis and expert opinions before making any investment decision. And never invest more than you can afford to lose.

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Disclaimer: The information published in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do your research and communicate with financial advisors before making any investment decisions.

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