Shiba Inu (SHIB) prices soared after the launch of trading on Robinhood, a commission-free trading platform in the US.
SHIB prices climbed more than 35% to 0.00003, their highest level in nearly two months before a partial drop to the current 0.000026.
Robinhood has been a go-to for everyday investors since the March 2020 pandemic last year, with Robinhood adding 10 million user accounts to its platform. More than half of all new signups come from new investors.
David Gokhstein, Founder of Gokhshtein Media saidRobinhood’s Listing of SHIB Tokens Is “A Great Thing” for the Crypto Space Noting that digital currencies can help increase users to other leading coins such as Bitcoin (BTC) and Ether (ETH).
IntoTheBlock, the analytics platform, noted that Addresses holding SHIB for more than a year have increased their balance more in the last 30 days. As a result, these “holdings” are able to control more than 2.82% of SHIB supply in circulation.
Besides Shiba Inu ( SHIB ), Robinhood also lists Solana (SOL), Polygon (MATIC), and Compound (COMP).
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