The cryptocurrency market witnessed significant activity this week, with Bitcoin maintaining steady highs while altcoins—led by Shiba Inu (SHIB)—pushed for greater gains.
Shiba Inu's Meteoric Rise
- 24-hour surge: 26%
- 7-day growth: 88.8%
- Market cap: $26.2 billion (ranking #11 among cryptocurrencies)
According to CoinGecko, SHIB’s momentum has fueled broader altcoin rallies. Cointelegraph Markets Pro data highlights Secret (SCRT), Curve (CRV), and Shiba Inu as top performers.
Investor Demand and Robinhood Petition
A Change.org petition urging Robinhood to list SHIB has garnered 326,000 signatures. CEO Vlad Tenev confirmed the platform is "cautiously evaluating" the request, following Coinbase’s recent SHIB integration.
👉 Why Shiba Inu’s Robinhood listing could reshape crypto trading
Key Context:
- Robinhood’s planned crypto wallets have over 1 million waitlisted users.
- 64% of Robinhood’s crypto revenue derives from Dogecoin (DOGE).
Market Volatility and Elon Musk’s Influence
SHIB faced temporary volatility after Elon Musk tweeted he held none of the token. However, prices rebounded within hours, accelerating their upward trajectory.
Current SHIB Price: ~$0.00005360 (as of latest update).
FAQ Section
Q1: Why is Shiba Inu gaining popularity?
A: Its low entry price, meme-coin appeal, and community-driven campaigns (like the Robinhood petition) amplify demand.
Q2: How does SHIB differ from Dogecoin?
A: While both are meme-coins, SHIB operates on the Ethereum blockchain (ERC-20 token) and has a larger max supply.
Q3: Is Robinhood likely to list SHIB soon?
A: No official timeline exists, but public pressure and Coinbase’s precedent increase chances.
Q4: What risks come with investing in SHIB?
A: Extreme volatility, reliance on hype, and regulatory uncertainties are key concerns.
👉 Explore altcoin strategies for cautious investors
Disclaimer: Crypto investments involve high risk. Always conduct independent research.