Could Shiba Inu Get Listed On Robinhood In January 2022?

Image Source: Pexels

Shiba Inu (SHIB-X) is a token born relatively recently, appearing on the market in August 2020. Those who created Shiba did so in the wake of another cryptocurrency having as its symbol that same dog breed: the Dogecoin (DOGE-X). DOGE was born seven years earlier as a mere joke, but it became a natural phenomenon in 2021.

Shiba Inu immediately attracted the attention of investors, triggering decisive price hikes. Its fame has grown so much that one of the favorite apps of crypto investors, Robinhood, seems to be close to listing it.

In this article, we will first provide an overview of memecoins. Then, we will continue analyzing SHIB and the Robinhood system and the possibility that the trading app will include this crypto in its offer.

Dogecoin, Shiba Inu, and the Other Memecoins

Shiba Inu Coin is a meme token based on ERC 20 technology, introduced by Ethereum (ETH-X). The symbol of SHIB is the same used by DOGE, with the only difference being that SHIB uses a cartoon version of the famous dog.

Although DOGE’s initial project was probably nothing more than a parody, SHIB works differently. Unfortunately, this is not true for many memecoins, often living as a momentary phenomenon. Nevertheless, SHIB is here to stay, as several of its features seem to promise.

For example, not all memecoins choose to work on the ERC 20 protocol. Many ERC 20 tokens are not connected to funny online memes, working on complex blockchain systems. As you will probably have noticed if you are familiar with the subject, most memecoins work on the BSC system offered by Binance. This is a popular choice in the meme niche since these projects are not meant to last, and BSC is generally a cheaper option.

'SHIBARMY' is the name of the community on which Shiba Inu is based. This user group is very active and is an integral part of the entire project. It is probably due to these factors that some important platforms (such as Coinbase) have decided to include this cryptocurrency in their offering list. 

How Does Shiba Inu Work?

Therefore, the entire project is based on a close collaboration between a team of developers and Ethereum ERC 20 technology. ShibaSwap, on the other hand, allows access to exclusive NFTs (non-fungible token) that can be exchanged between users.

The main aspect of the project is what is generally called white paper. It is a text file that explains the intrinsic functioning of the project in broad terms. Typically, a white paper is just the starting point for an investor to get information about a new blockchain initiative. 

Robinhood’s Popularity

Robinhood is the most popular zero commission online broker in the US, with over 10 million users. This company recently went public on the Nasdaq under the ticker HOOD.

The great success of Robinhood depends on the fact that there are no commissions for trading on stocks, options, or cryptocurrencies. However, due to changes at the sector level, Robinhood is no longer the only player applying this kind of condition on the market.

The company’s target customer base is represented by young beginners who do not have significant financial experience or knowledge. They are attracted to the app through advertising that heavily relies on words like “free” and “democratization.”

Overall, this tactic has been successful, resulting in 10 million accounts held by an unknown number of customers. It is also worth mentioning, among Robinhood’s most successful elements is the possibility of buying or selling fractional shares. This operation, carried out through CFD derivative instruments, allows users to trade a fraction of costly claims at a low price.

Can Shiba Inu Get Listed on Robinhood?

A few days ago, the popular Twitter account “Shiba Inu News” shared an exciting rumor. Allegedly, the company recently had an internal executive meeting to discuss the possibility of including SHIB in the crypto offer of the portal.

This isn’t the first time we’ve heard about this project. Faced with the enormous rise in the price of SHIB, many Robinhood fans began asking their broker to act earlier in October.

Meanwhile, as previously mentioned, major exchanges like Coinbase already allow for SHIB trading. This contrast is creating a debate in the crypto universe, suggesting that Robinhood may move in this direction, too.

What to Expect From Robinhood?

Shiba Inu rests on a solid blueprint, unlike most meme tokens. This initiative is oriented to the future and is not just a short mania. Of course, there are still several aspects to evaluate, but the conditions for this token to make a name for itself in the coming years are all there.

While we do not know much about what will happen to this crypto, January may be the right timing for Robinhood to start offering SHIB. Of course, we will see if Robinhood also will decide to follow Coinbase and the other exchanges on this journey in the future. What we can see, for the moment, is an incredible frustration on the part of Robinhood’s users, who fear missing out on this opportunity.