The growing demand for Robinhood Markets Inc. to add the Shiba Inu coin to its platform is helping fuel it cryptocurrency To record high.
According to data from CoinGecko, the SHIB token, as it is known, is up 13% in the last 24 hours. It is currently the 11th largest cryptocurrency with a market cap of around $24 billion.
A petition on Change.org asking Robinhood to list the Shiba Inu – a Dogecoin-inspired meme cryptocurrency – now has over 326,000 signatures. On the company’s earnings call on Tuesday, Robinhood Chief Executive Officer Vlad Tenev said it is “carefully” considering adding new coins to its offerings.
Tenev said, “We feel great about the coins we are currently listing on our platform and with any new coins we add, we want to feel equally, if not more, better.” “
Coinbase Global Inc added the token last month.
Crypto has become more important to Robinhood’s growth. Last month, the brokerage said it planned to offer a crypto wallet, a tool that allows investors to send and receive digital currencies. The company previously said that there are 1 million customers on the waiting list for that product. According to its last filing, 64% of crypto revenue came from Dogecoin.
trading Shiba Inu has been unsteady on its way. Crypto declined after Elon Musk tweeted earlier this week that he did not own the coin. In a follow-up tweet, he said that he had bought bitcoin, ether and dogecoin, and “that’s it.”
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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