Shiba Inu (SHIB), a Dogecoin spinoff that has come to the limelight recently on the back of its outsized year-to-date gains, might just be about to kick its ongoing bullish momentum into high gear.
As per the news that is just breaking across the proverbial waves, Shiba Inu’s SHIB coin is reportedly nearing a listing on the Robinhood platform:
This comes as a petition on Change.org has already garnered 265,152 signatures (at the time of writing) to list Shiba Inu on Robinhood.
The coin is up at least 5 percent on the back of this news. So, why is a potential listing of the SHIB coin on Robinhood such a big deal? Well, the brokerage platform remains popular with retail investors trying to gain exposure to prominent crypto names. Dogecoin, a cryptocurrency that experienced a sim
At the time of writing, Shiba Inu’s SHIB token is trading at $0.000029, a mere spitting distance away from its all-time high of $0.00003389 recorded back in April. Interestingly, the current price level corresponds to year-to-date gains of over 40 million percent!
As a refresher, the Shiba Inu token is based on Ethereum’s ERC-20 protocol for smart contracts and utilizes a proof-of-stake (PoS) mechanism. SHIB is the project’s foundational currency and, after having endured a series of epic supply burns, there are currently only 394.796 trillion SHIB coins in circulation out of a max supply of 1 quadrillion. With a max supply of 107,646 coins, LEASH is the project’s second token. Investors can purchase LEASH via Uniswap, a decentralized finance protocol that is used to exchange cryptocurrencies. BONE, with a maximum supply of 250 million tokens, is the third coin under the Shiba Inu project. This token can be obtained by staking SHIB coins on the project’s native crypto exchange, dubbed ShibaSwap.
ilar momentum outburst earlier this year had also registered outsized gains in the runup to its listing on the popular brokerage platform. Given that Shiba Inu’s SHIB coin is already up 5 percent on this news, investors might be pricing in the prospects of a similar bull run.
Credit to @ wccftech
