After breaking above a consolidation phase in early October, Shiba Inu (SHIB-X) has clocked in mouth-watering gains. With the meme crypto taking off, backers of Shiba Inu have been rallying around to add it to Robinhood Markets, Inc. (HOOD).

What Happened

A petition to Robinhood posted on Change.org regarding listing of the Shiba Inu coin to the trading app has now garnered about 2,20,720 signatures. "This petition is designed to kindly request of Robinhood to please list Shiba Inu coin to trade," the petition read.

While noting that Robinhood has seen huge success with its Dogecoin (DOGE-X) listing, the petitioner said Shiba Inu is a similar meme coin with genuine potential. He also noted that crypto exchange Binance has listed Shiba Inu. "Let's encourage Robinhood to be the first traditional brokerage to get on this train! Thank you," the petition concluded.

Why It's Important

Shiba Inu was founded in Aug. 2020 by an anonymous person known by the name Ryoshi, who was reportedly operating out of China. Shiba Inu is a Japanese term for a breed of dog, and this breed is used as the mascot for Dogecoin. Incidentally, SHIB is touted as a Dogekiller and an Ethereum-based (ETH-X) alternative to Dogecoin.

SHIB started with a supply of 1 quadrillion and subsequently Ryoshi locked 50% in Uniswap and then burned the other half to Ethereum co-founder Vitalin Buterin for safekeeping. Buterin has since utilized SHIB in crypto donation for COVID-19 relief in India, and then burned 40% of its total supply to a dead wallet.

Shiba Inu supporters are canvassing to increase signatures for the application to 3,00,000. This number would make the petition one of the top most signed on Change.org.

Shiba Inu, which took off from $ 0.000009 Oct. 3 to $0.000013 Oct. 4, rose to an intra-day high of $0.000035 on Oct.7 before pulling back. At last check, the meme crypto was down 5.29% at $0.000026.