TL;DR Breakdown:
- Shiba Inu reaches a new all-time high of $0.00005806.
- An anonymous whale bought 277 million SHIB tokens.
- A petition on change.org asking Robinhood to list SHIB has gained over 300,000 signatures.
Shiba Inu, the rocketing meme coin, has hit a new all-time high today. The 11th biggest crypto in the industry reached $0.00005806 today, less than a day after its previous ATH.
This overnight jump in SHIB price came after an anonymous whale had purchased 277 billion SHIB tokens on Monday evening, valued at $11 million. SHIB is currently trading at $0.00005261.
Shiba Inu went up by 650% in October, also recording the most extensive circulating supply in the industry. Binance reported that SHIB currently holds a total supply of one quadrillion and a circulating supply of 100%.
Traders are jumping in on the hype. Earlier today, a petition on Change.org received more than 326,000 signatures asking Robinhood, one of the biggest financial services company to list Shiba Inu in its crypto exchange.
What’s causing this rise of Shiba Inu?
Earlier this month, Elon Musk started the SHIB hype by tweeting a picture of his Shiba Inu puppy. However, Shiba Inu has been gaining a lot of traction in the market since early July.
In July, the Doge-inspired meme coin released their DeFi platform, ‘ShibaSwap,’ to trade and exchange the 3 leading coins in the Shiba Inu ecosystem (SHIB, BONE, LEASH).
There’s also the factor that the first-ever Shiba Inu NFTs launched on ShibaSwap earlier this month were sold out in less than 30 minutes. This also caused a massive spike in the SHIB trading volume.
Just weeks ago, Robinhood released a survey asking users which crypto they bought in the last 3 months. Shiba Inu was among the 10 listed coins in the survey. This led to the viral speculation that Robinhood will list SHIB in its crypto exchange very soon.
Just days ago, Elon Musk said that he expects Shiba Inu to reach $1.20 by the end of October during a Youtube Live interview. While experts have labeled Musk’s expectations “Too Ambitious,” SHIB certainly has the momentum in its favor.
With the new $11M investment from a crypto whale overnight, SHIB is undoubtedly on a fiery track. As it seems, for now, the sky is the limit for this meme coin.
Is the Robinhood listing of SHIB imminent?
The petition circulating all over social media has undoubtedly caught the attention of Robinhood. Traders are relentlessly trying to raise the hype to convince Robinhood to list Shiba Inu, which will cause another huge spark in its price.
But how does Robinhood list crypto? The California-based financial company currently has only 7 coins listed on its crypto exchange.
As past listing trends suggest, Robinhood always adds new crypto listing based on circulating supply and trading volume. It followed the same formula to list Dogecoin when the first-ever meme coin broke the trading volume records in the market just months ago.
Shiba Inu has already passed the trading volume of Dogecoin and also in terms of circulating supply. However, its market cap dominance is sitting just below Dogecoin.
So, if past trends are to be considered, the stars are shining bright on the possibility that Robinhood might list SHIB very soon.
Although the possibilities are high, we have to remember that nothing is certain in this volatile market. As for now, SHIB seems to be holding tight onto its Bullish trend.
SHIB is currently trading at $0.00005261.
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