Robinhood Lists $SHIB, Helping the Hugely Popular Cryptocurrency To Surge 7.5%

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On Tuesday (April 12), hugely popular retail-focused commission-free stock and crypto trading platform Robinhood listed support for dog meme cryptocurrency Shiba Inu ($SHIB).

Here is what Binance Academy says about Shiba Inu:

Shiba Inu (SHIB) is a dog-themed meme cryptocurrency named after a Japanese dog breed. It was created in 2020 by an anonymous developer named Ryoshi, who designed SHIB to be an alternative to Dogecoin (DOGE) on the Ethereum blockchain.

SHIB is an ERC-20 token with a decentralized exchange called ShibaSwap. The SHIB roadmap and ecosystem also features an NFT art incubator called Shiba Artist Incubator, 10,000 ‘Shiboshi’ NFTs, and an NFT game Shiboshi Game.

Shiba Inu had an initial circulating supply of 1 quadrillion tokens. Ryoshi locked 50% of the token in Uniswap to create liquidity, and sent the other 50% to Ethereum co-founder Vitalik Buterin’s wallet. However, Vitalik decided to burn 90% of the coins and donate the remaining 10% to charity.

At the time of writing (12:33 p.m. UTC on April 12), on crypto exchange FTX, $SHIB is trading around $0.00002514, up 7.5% in the past 24-hour period.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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