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Finally, the shiba inu coin currency can be purchased on Robinhood.

shiba inu coin currency

The shibheads’ wait is over: Robinhood is now allowing consumers to purchase and sell shiba inu coin, a popular cryptocurrency whose fans have been pleading with the online brokerage to list it.

On Tuesday, Robinhood announced the launch of four new cryptocurrencies to its trading app: compound, polygon, and solana.

Robinhood’s chief brokerage officer, Steve Quirk, said in a statement that the business was “happy to introduce more choices for our consumers as we seek to make Robinhood the best place to invest in crypto.”

shiba inu coin currency robinhood

Robinhood, according to Quirk, evaluates new assets for listing using a “rigorous approach.” According to CEO Vlad Tenev, the company is treading carefully when it comes to adding additional tokens.

“On an earnings call last year, Tenev warned analysts, “We’re going to be very careful.” “We’re a regulated company, and we’re hoping for some clarity on coins in the near future.””

Shiba inu coin started off as a parody of dogecoin, another joke cryptocurrency. It was dubbed “the joke of a joke” by Tad Park, CEO of crypto investing firm Volt Equity.

But, like dogecoin, it’s taken off, and it’s now one of the most valuable cryptocurrencies in terms of market capitalization. Late last year, Shiba inu coin overtook dogecoin to become the ninth-largest cryptocurrency, before dropping back to No. 15 in the rankings.

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Shiba inu coin’s main strength is its community of ardent fans, known as “shibheads,” who have fought hard for the cryptocurrency to be included to major exchanges.

Last year, the coin was introduced to Coinbase and Public.com. Shiba supporters started a petition push to persuade Robinhood to follow suit, which already has nearly 600,000 signatures.

The news of the Robinhood listing boosted Shiba inus. In late-morning transactions, Robinhood shares increased by roughly 4%.

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Hi, Let me introduce my self. My name is Abu Zian, usually called Abu Zi, I am a professional writer on various websites, one of which is on this blog.

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