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Why Shiba Robinhood Listing Could Trigger Another Price Rally

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Forex Trading

The question of when Shiba Robinhood Listing will happen remains. For the last few months, Shiba Investors have been pushing to have the coin available on the platform.

Robinhood listing is expected to rally the coin. Robinhood is a retail trading platform with over 22 million customers.

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Currently, the platform has seven cryptocurrencies its customers can trade on. Most of these include the top cryptocurrencies that have been in the market for a long time.

Also known as Dogecoin Killer, the Shiba Inu coin has been having tremendous growth this year. At its prime, the coin had a market valuation of 35 billion dollars making it among the top 10 largest cryptocurrencies in the market.

Robinhood Listing Petition

To push the coin listing, there has been an ongoing petition that currently has over 500 thousand petitioners. This indicates the urgency of the issue by investors. However, in response to this, Robinhood has stated it is not in a hurry to list Shiba.

There seems to be some resistance to listing the coin despite this petition. Robinhood argues it is just doing due diligence. This will enable it to only list coins with high future viability.

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However, investors are questioning the rationale behind this decline despite having listed Dogecoin that is also a meme coin. Dogecoin is the platform’s top revenue maker among cryptocurrencies. In the second quarter, Dogecoin made 60% of all the cryptocurrency revenues.

Effects of Robinhood Listing on the Price of Shiba

Shiba has been reacting positively to listing in major platforms. Its price has experienced rallies after listing in both Binance and Kraken platforms.

Recently, the coin had a 30% jump after listing on the Kraken platform. With this in mind, analysts believe a Shiba Robinhood listing could cause a huge rally.

Listing on a major platform also exposes the token to a bigger number of potential customers. With 22 million customers, this is a huge base that could bring demand pushing the coins price higher.

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Benefits for Robinhood

Robinhood is also set to benefit enormously by listing the coin. Shiba is among the most famous cryptocurrencies in the market. It has also been recording very high trading volumes in the market.

This activity allows Robinhood to benefit from fees such as commissions and interest. Listing the coin will also trigger growth in the customer base seeking to trade in it.

Hence, a Shiba listing on Robinhood could be a major trigger for the coin’s rally potentially reversing the ongoing selling momentum in the market.

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