Max E.Wed, Apr 13, 2022 8:27 PM
SHIB: 13 April Price Digest
Online broker Robinhood has added support for four new cryptocurrencies, including Shiba Inu, as announced by the company in a blog post. Over the past year, the platform's clients have repeatedly asked for an opportunity to accept and send their assets, as well as a wider choice of cryptocurrencies. Robinhood previously activated wallets for more than 2 million users on the waiting list, and now the platform has begun to expand its crypto listings.
At the time of writing, SHIB is trading at $0.00002646. Over the past 24 hours, the price of the token has increased by 5.25%, despite a weekly increase of only 2.74%.
Two weeks ago, SHIB lost over 60,000 holders as the demand for the token fell. However, amid the new listing, SHIB’s market capitalization increased by more than $1 billion in less than an hour.
Following the listing, the exchange posted a tweet announcing a giveaway of $100,000 worth of SHIB to 10,000 users.
While today users are only able to buy and sell SHIB, the ability to replenish wallets and withdraw funds will be available later, as clarified by the representatives of the crypto exchange. Brokerage Lead Steve Quirk noted that all newly added cryptocurrencies on Robinhood were judged against a “strict set of rules.” According to him, the platform’s main goal is to remain a “safe and educational space”.
Now that, after months of persuasion, the crypto exchange has finally listed SHIB, it looks like the optimism of long-term token holders has finally paid off. Over the past few weeks, investors have been hoarding supplies, and those who have held the token for more than one year have increased their balance sheet by as much as 57.11% in just 30 days. Thus, long-term SHIB holders currently own 2.82% of the entire token supply.
Recently, Ethereum's 12th largest whale acquired 775 billion SHIB tokens – one of the largest Shiba Inu purchases in the past few days, according to WhaleStats.
Currently, SHIB has a market capitalization of $15.13 billion, making it the 15th largest cryptocurrency by this metric. A recent study showed that SHIB is the fourth most popular cryptocurrency in the United States.
SHIB: The Metaverse land auction’s launch, which took place on April 13, could become another catalyst for the growth in the asset’s price. SHIB can be used to name or rename parcels of land.