Is Shiba is ready to arrive on Robinhood?
The news began to circulate again yesterday afternoon, driven by newspapers which, however, have not always proved reliable. We, however, as happened with the listing on eToro we put our face to it, also taking advantage of some reserved channels.
We can be reasonably sure that everything is ready from Robinhood for the listing of Shiba Inu Token, a rumor that we had also confirmed in the past and that is now finally running out.
With a series of purchases yesterday that started right from the spread of this news – without there being any confirmation of the fact that it was precisely Robinhood to proceed with such substantial purchases. A question that in our opinion does not have any kind of importance now: we will know shortly what the strategies will be Robinhood for inserting Shib at its price lists. An implementation that will, without any kind of doubt, have extremely important repercussions on the price of Shib. And for the meme token a trend that already seems to be taking place could be strengthened extremely bullish.
What could happen next? Cryptocurrencies are notoriously volatile, making it very difficult to predict what will happen next. This is why they are risky investments. Edul Patel, CEO, and co-founder at Mudrex said, Last week saw a bit of consolidation with low trading volumes for the top cryptocurrencies. The volatility in prices seems to be below. Both Bitcoin and Ethereum seem to be hovering around crucial support levels. The meme coin, Shiba Inu has lately been among the favorites for the investors and traders after its listing in Coinbase. Dogecoin is currently witnessing a selloff. The good news this week for the short-term traders is that the trading volumes has over 160,000 signatures and hidden Robinhood messages, as they stated more cryptocurrencies are coming to the Robinhood platform, it is only a matter of time before Shiba Inu will get listed,
Shiba Inu Crypto Whale.
An anonymous buyer decided to go on a Shib coin shopping spree over two days buying close to an enormous 6.3 trillion coins. The whale began his spree on October 1 when he went ahead and bought a mammoth 6 trillion Shib coins worth around $43,838,900. The whale then went ahead and bought another 116 billion coins the next day, followed by two more transactions of 159 billion coins and another 1 billion coins, the last three transactions happening in a span of a few hours.
The total amount of Shib coins purchased by the whale on Saturday, October 2 on its own summed up to 276 billion. Such high volumes saw Shib coin price rise by 5 percent after which it settled down around 3 percent.
But this is hardly the first time a whale has changed fortunes for the memecoin. Launched in August 2020, Shiba Inu was introduced to leverage the popularity of Dogecoin, which had countless investors rushing into the cryptocurrency space.
Unlike rivals Dogecoin though, Shiba Inu levelled up immediately.
Investors seemed highly interested in Shiba Inu as the total value locked (TVL) rocketed to values close to $2 billion in June and July. According to DeFiLlama, the TVL has since declined to under $300 million.
But that hasn’t discouraged mysterious Shib whales from buying massive portions of the asset.
In fact, such interest from whales has only strengthened Shiba Inu’s position in the market over the past few months. Shib was released on eToro – a global social trading platform based out of Israel – in late June and since then, the memecoin has witnessed listings on CoinBase Pro and WeBull at the start of August, all spurred on by whales buying billions of coins.
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