The Shiba Inu Comes to Robinhood Here Are Some Must-Know Asset Considerations
Rancakmedia.com – Shiba Inu coins are on the rise, not a few investors who want Shiba Inu coins to be present in Robinhood. Investors are pushing Robinhood Markets to become the new home for Shiba Inu coins.
The Shiba Inu coin is nothing but a meme-inspired cryptocurrency, the Shiba Inu coin has experienced a significant spike this month. The Shiba Inu coin is a spin-off of dogecoin, which was developed as a parody of the cryptocurrency craze of 2013, and serves absolutely no practical purpose.
But the price of the Shiba Inu coin has increased by as much as 1,000 percent this month, overtaking Dogecoin to become the world's eighth largest digital currency with a market value of US$42 billion.
The Shiba Inu coin's exciting climb has prompted Robinhood customers to seek their share of the action.
Reported by Portal Purwokerto via the Channelnewsasia.com website, on the Say Technology Robinhood platform, retail investors are wondering when to introduce new coins such as the Shiba Inu coin at Robinhood Markets.
Separately, an online petition asked Robinhood to offer Shiba Inu coins has over 400,000 signatures, while #SHIB trended on Twitter with a flood of “When #shiba” messages aimed at Robinhood.
Investors can acquire Shiba Inu coins on various cryptocurrency trading sites, such as Coinbase.
If Shiba Inu coins can be traded on Robinhood, which typically has lower fees than its competitors, it will allow corporate customers to switch between crypto, stocks and options on a single platform.
The brokerage said this week that it plans to wait for further regulatory clarification regarding any new digital currencies that may be listed.
International regulators have put pressure on the fast-growing cryptocurrency sector, including the US Securities and Exchange Commission, which says it is studying various elements of digital currency, including offering and selling crypto tokens.
Robinhood currently offers seven cryptocurrencies including Dogecoin, which accounted for 62 percent of cryptocurrency transaction activity in the second quarter, increasing its returns.
The fashionable list of Shiba Inu coins might lead to a similar increase in volume, but satisfy client demands for crypto and provide its own set of perils.
The CEO and crypto analyst of Quantum Capital, revealed on the website channelnewsasia.com that if investors continue to hunt new coins for potential faster returns, crypto platforms need to stay vigilant to keep their customers satisfied.