These days the meme canine crypto token called Shiba Inu token is dominating the market. In the last few months, this canine crypto has undergone a considerable amount of rally and acquired the 11th spot on the global digital asset leaderboard. Despite all the recent attention, the graph of the Shiba Inu token progress has started to move downwards recently.
Meme Token Listing by Robinhood will Boost Price Value of Shiba Inu
In the last week of October, Shiba Inu token managed to claim a new ATH of $0.000088 per unit. In comparison, the current week has seen the satirical coin plunging 50% in value. At press time, SHIB is valued at $0.000056 per unit. Against all odds, the ShibaArmy has remained bullish, and the market sentiment data indicates that investors are positive about another bullish break shortly.
The crypto market experts opine that the major cause of the latest price dip for the Shiba Inu token was the increase in derivatives liquidations ratios. Bybt report accounted that Shiba Inu sell-offs amounted to 3.49% of the total crypto market liquidation share in the last 3 days. Such a massive amount of Shiba tokens makes up $260.26 million and $10 million in Shiba-related contracts.
The market has managed to remain on a predominantly positive note due to the possibility of a new listing by Robinhood. Robinhood is an online trading platform that has made a name for itself by revolutionizing the trading and investment market. Noteworthy names in a crypto community like WatcherGuru crypto tracker and blockchain solutions provider PAC protocol have also endorsed the reformation of Shiba Inu in case of the expected listing.
Cryptotunez is a known cryptocurrency critic on social media. The digital market analyst recently published their take on the matter of Shiba Inu’s Robinhood listing. It is worth mentioning that a petition filed on Change.org to list the canine crypto token on Robinhood has reached more than 50K signatures thus far and has become one of the leading causes on the platform.
Cryptotunez has stated that if Robinhood fails to list the meme token before the end of this month, the results could be devastating for its investors. Robinhood management has issued a statement claiming that they are happy with their current listing choices. However, PAC protocol CEO David Gokhshstien pointed out that Robinhood might seek to list Shiba Inu token considering that its Q2 revenue was amounting to $233 million as a result of the Dogecoin listing that dropped in Q2 to only $51 million.