Robinhood has finally added Shiba Inu (SHIB), after much waiting. Today, the meme-coin was added to Robinhood alongside several other major cryptocurrency cryptocurrencies such as Polygon (MATIC), Solana(SOL), and Compound.
After a year of intense lobbying by the SHIB community, which had last year collected signatures to appeal at Robinhood to list this dog-themed token, the listing was made.
Vlad Tenev, the CEO of Robinhood, stated that there were no plans for SHIB to be listed by the US trading platform anytime soon.
“We’re being deliberate. We want to avoid triggering SEC registration requirements for cryptocurrencies.”
Robinhood has not yet made an announcement. It does not appear that the additional coins are available for trading.
Robinhood already supports Dogecoin(DOGE), which is a meme-coin with a dog-themed design.
Price of Shiba Inu, (SHIB), surges following the news
The price of SHIB jumped by more than 10% as soon as the Robinhood announcement about SHIB’s listing was made. At the time of writing, it was up 15.65%.
Since the November 2021 drop and January 2022 drops, the price for Shiba Inu has remained below $0.00003. The SHIB community expects the Robinhood listing to propel the meme coin’s price to at least above $0.00003 even as it awaits the launch of Shiba Inu’s metaverse.
Robinhood plans to incorporate Bitcoin Lightning
At this year’s Bitcoin Conference 2022 in Miami, Robinhood, chief product officer, Aparna Chennapragada, revealed Robinhood’s plan of integrating the Bitcoin Lightning Network into its platform to enable faster transactions.
Lightning Network, a layer-2 network that is built on Bitcoin, allows for faster transactions at a significantly lower cost.
“Enabling send and receive functionality is just the first step in an exciting journey for Robinhood Crypto. We’re building to enable customers to do more with their wallets and reduce cost wherever we can when they interact with the crypto ecosystem.”