In recent days, the unlikely and epic rise of Shiba inu has propelled the meme-inspired cryptocurrency to a market valuation of more than $42 billion.
Shiba Inu ($SHIB) is still the most valued meme currency, overtaking Dogecoin ($DOGE) to become the ninth most valuable cryptocurrency. However, after achieving new highs only a few days prior, the meme currency saw a significant price retracement of roughly 50%, plummeting to $0.000057 after hitting new highs just a few days prior, setting another ATH of $0.000088.
Altcoin’s positive momentum, on the other hand, helped it recoup the majority of its losses on the same day, and it is presently stabilizing at the $0.000075 mark.
In October, the price of $SHIB increased by about 1,000 percent, overcoming significant challenges, including Elon Musk’s stress test and a big 31.04 billion token dump. All of this occurs while the Shiba Inu community continues to push for its inclusion in Robinhood.
There is a change.org petition with over 400K signatures, however considering what the meme coin has done in the last month, where its value has increased faster than Robinhood’s, it looks that the fintech trading app is in more need of a $SHIB listing.
Robinhood announced a reduction in crypto activity on its platform in its most recent financial report, and its stock sank 8% due to the announcement. As a result, they would benefit from a $SHIB listing in trading activity and exposure. Coinbase is also cashing in on the $SHIB frenzy, with the $SHIB ticker taking the place of the $DOGE ticker as the app’s highlight picture.
The SHIB Community is a force to be reckoned with!
Shiba Inu is a popular meme currency that consistently ranks first in social opinion polls. According to Santiment statistics, despite a price decline and a consolidation phase, Shiba Inu remained a popular subject on social media.
At one point, $SHIB overtook Polkadot ($DOT) and $XRP, and if it can repeat that rally, it may be able to remove another zero from its price.