Seeking Alpha
2022-01-12 15:44:42

Shiba Inu climbs 17% on Robinhood listing rumor

Shiba Inu (SHIB-USD) climbs 17% intra-day as Robinhood (NASDAQ:HOOD) is rumored to list the meme coin as early as February, according to a tweet from BreakingCrypto. Still, the digital token is trading well below its all-time high of $0.000087 per coin towards the end of October, now changing hands at $0.000032, according to data from CoinMarketCap. This isn't the first time rumors have been spreading with regards to Shiba Inu (SHIB-USD) getting listed on Robinhood's (HOOD) retail trading platform. Shiba Inu's October peak was perhaps partially due to the same rumors that took place. Dogecoin (DOGE-USD), which also represents a meme of the Shiba Inu breed of Japanese hunting dogs, climbs about 7% so far on Wednesday. Note that Dogecoin (DOGE-USD) makes up a large chunk of Robinhood's (HOOD) crypto transaction-based revenue, though its share fell to 40% in the third quarter vs. 62% in Q2. Previously, (Dec. 30, 2021) Robinhood said it

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