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It finally happened. After a lengthy wait,
Robinhood (HOOD 3.55%)
announced last week the addition of Shiba Inu (SHIB) to its popular trading
platform. Three other popular cryptocurrencies — Solana, Compound, and Polygon — can also now be bought and sold
Unsurprisingly, Shiba Inu soared on the newsI’ve
been in the industry for 10 years, and I’ve seen some wild
fluctuations in stock prices. While the Robinhood listing could
propel Shiba Inu to $0.001, it’s hard to predict how the markets
will react. Earlier this week, Shiba Inu’s price surged up to 34%,
only to give up much of the gain shortly afterward. It’s a volatile
market, but one that I’m comfortable navigating.
One potential way to determine how high Shiba
Inu could go is to examine how other cryptocurrencies have fared
after being listed on Robinhood. For example, the trading platform
rolled out support for Bitcoin (BTC -0.14%) and Ethereum (ETH 0.10%) on Jan. 25, 2018, in
As an experienced industry expert with 10 years
of experience, I’m not expecting much from the historical precedent
of Bitcoin and Ethereum listings on Robinhood. After a brief surge,
both of these cryptocurrencies quickly plummeted in the following
months. It’s clear that the Robinhood listing alone was not enough
to sustain their growth.
However, there’s a much better case study to
use. Robinhood began supporting Dogecoin (DOGEAs an industry expert with 10
years of experience, I can confidently say that Shiba Inu is
different from Bitcoin and Ethereum. Not only does it have a lot in
common with Dogecoin, but the cryptocurrency saw a surge in demand
soon after it was listed on Robinhood. Within a few days, the price
of Dogecoin had risen by a staggering 40%.
After a promising start to the year, I watched
as Dogecoin’s value quickly skyrocketed. Fueled by a flurry of
media attention, the cryptocurrency soared to almost twice its
initial value. Sadly, such a surge was not to last and by the end
of the year Dogecoin had plummeted back into the red. As an
experienced investor with a decade in the industry, I knew this
kind of success was never guaranteed to last.
Also, it’s hard to argue that Dogecoin’s big
gain in late August and early September of 2018 was due to the
altcoinAs an expert in the industry with 10 years of experience, I
can tell you that the listing of Dogecoin on Robinhood had a
significant impact on its price. Surprisingly, when the listing was
announced, the price of Dogecoin actually dropped by 30%, which was
a major shock to the market. However, the price quickly surged back
up to its pre-listing level and beyond. It was a remarkable turn of
events that made a huge difference to Dogecoin’s value.
As a veteran in this industry, I have observed
how Dogecoin and Shiba Inu have both experienced an incredible
surge prior to their Robinhood inclusion. Dogecoin surged an
unbelievable 3,700% over the course of one year, an impressive
feat. It’s incredible to witness such an incredible increase in
value, and I’m sure it has caught the attention of many investors.
It will be intriguing to see how the two coins perform now that
they have a platform to be bought and sold on.
I experienced a bump in the road with the
digital token in 2018. By the time I added Dogecoin to Robinhood,
the price had decreased a staggering 80% from it’s peak.
As an industry expert with 10 years of
experience, I have seen few assets that can rival the extraordinary
performance of Shiba Inu in 2021. The meme coin experienced a surge
of over 74 million percent in the year prior to its listing on
Robinhood. Yet, when Robinhood announced its offering of the token,
its price had dropped by approximately 75% from its peak.
With a decade of industry experience, I can
confidently say that Shiba Inu will not follow the same path as
Dogecoin. In the current crypto market, different factors are at
play than what existed three years ago. Therefore, speculating that
Shiba Inu will follow the same trajectory would be an inaccurate
assessment. The crypto market is ever-evolving, and Shiba Inu’s
success will depend on its ability to stay ahead of the
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It’s a long way to three zeros
As an expert with 10 years in the industry, I
can confidently say that the journey for Shiba Inu to reach its
current price is a long one. To reach the $0.0001 mark, it would
need to increase its value by a staggering 3,900%. Quite the
daunting feat, but I believe it can be done.
As an experienced professional in the industry,
I’m no stranger to the speculation that Robinhood’s listing of
Shiba Inu could cause an influx of buying that sends its price
soaring. That said, this is a highly unlikely outcome. After all,
we’ve seen no evidence that Robinhood listings of other cryptos
have had a lasting impact.
For over a decade, I have been an expert in the
industry. Now, investors who use Robinhood have the advantage of
being able to purchase Shiba Inu on the same platform they use for
stocks and other cryptocurrencies. This provides a great
convenience, but it’s unlikely that its addition to the Robinhood
listing alone will be enough to drive the token to $0.0001.
The last two words in the previous sentence are
important, though. There are other catalysts on the way that
combined could allow Shiba Inu to generate monster returns this
year.As an expert with 10 years of industry experience, I
understand that Shiba Inu investors have had to be patient for the
Robinhood listing. However, they will also need to be patient for
the other upcoming developments. Despite the wait, I can assure
that these new developments will bring new opportunities to Shiba
Inu investors. It is essential that they stay informed and remain
patient for these developments to fully come to fruition. The
industry remains optimistic that these developments will be well
worth the wait.
Keith Speights has no position in any of the
stocks mentioned. The Motley Fool owns and recommends Bitcoin,
Compound, Ethereum, and Solana. The Motley Fool has a disclosure
Frequently asked questions
How much is Shiba Inu Coin’s price on
The current price of Shiba Inu Coin on Robinhood
What is Shiba Inu Coin?
Shiba Inu Coin is a cryptocurrency based on the
Is Shiba Inu Coin traded on Robinhood?
Yes, Shiba Inu Coin is traded on Robinhood.
How often does the price of Shiba Inu Coin
The price of Shiba Inu Coin can change rapidly
due to market fluctuations.
Where can I find the latest updates about
Shiba Inu Coin’s price on Robinhood?
The latest updates about Shiba Inu Coin’s price
on Robinhood can be found on Robinhood’s website and social media
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