Robinhood, a popular brokerage company listed Shiba Inu Shiba (SHIB), for its customers. The official tweet handle of the platform announced this listing after months of speculations.
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In an additional announcement, the platform offered a $100,000 cryptocurrency giveaway to help encourage Shiba Inu adoptive (SHIB). Robinhood allows users to interact via Twitter and win a share of the price.
The new cryptocurrency was introduced👀
It’s worth $100K, and we are giving it away. This tweet can be quoted with the Robinhood Username (@) To get more🪙 #RobinhoodCrypto
Get $10 off your first 10k tweets quoting SHIB. pic.twitter.com/0jsBKYfJvw
— Robinhood (@RobinhoodApp) April 12, 2022
SHIB saw a rise in price, as did the prices of Polygon(MATIC), Compound and Solana. The trend for cryptocurrency’s upwards from the yearly lows began immediately.
CoinGecko’s data indicates that SHIB rose to $0.00002680 from $0.00002000 at the time we are writing this. The increase is greater than 20% compared to the 1% profit made in the week prior.
With the increase in price, cryptocurrency saw an increase of volatility and trading volume. It could create dangerous market conditions.
Santiment, a research firm, reports a 30% pump in Shiba Inu (SHIB), making it one of the most successful cryptos on Robinhood. Santiment noted:
Solana and Polygon were the first to list their #Robinhood listings today. The biggest rise in interest was seen for $SHIB, which saw a +30% increase. High trading volume means that all four assets will experience high volatility.
Material Indicators (MI), provides additional data that shows an increase in buying power from both retail investors (yellow below) as well from those with orders for around $100,000. The latter seems to be exercising great influence over SHIB’s price action.
Other investors classes (in green and red) with smaller asks orders have been selling into SHIB’s current rally. To extend the bullish momentum, large investors will need to drive the price up to $0.000028 in the near term.
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Shiba Inu, (SHIB), To Launch More Use Cases
The Shiba Inu team supports the bulls. announcedLaunch of the first phase of their Metaverse project. Bid Event is the stage that will give LEASH holders and SHIBOSHI holders early access to investors.
To participate users will need to connect their wallets with the SHIB.io site. SHIB.io users will be able to use the site in more ways.
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The project’s team claimed that the token would be used to access their Metaverse platform, which allows users to do activities such as renaming land plots or leasing land. This will allow for bullish momentum to be generated by the use of SHIB.