In recent days, shiba inu’s improbable and epic surge has driven the meme-inspired cryptocurrency to a market capitalization of more than $42 billion.
Shiba Inu ($SHIB) continues to rule the meme money market, surpassing Dogecoin ($DOGE) to become the ninth most valuable cryptocurrency. The meme currency witnessed a massive price retrace of about 50% as its price plummeted to $0.000057 after hitting new highs just a few days earlier, posting another ATH of $0.000088.
However, altcoin’s bullish momentum helped it recover the majority of its losses the same day, and it is now consolidating near the $0.000075 mark.
In October, $SHIB saw a near 1,000 percent price increase, overcoming substantial obstacles including Elon Musk’s stress test and a massive 31.04 billion token dump. All of this is happening while the Shiba Inu community continues to demand that it be added to Robinhood.
There is an online petition on change.org with over 400K signatures, however given what the meme coin has done in the last month, where its worth has risen faster than Robinhood’s, it appears that the fintech exchange app is in greater need of a $SHIB listing.
In its most recent financial report, Robinhood revealed a drop in crypto activity on the site, and its stock dropped 8% as a result of the news. As a result, a $SHIB listing would provide them a boost in terms of trading activity and exposure. Coinbase is also cashing in on the $SHIB craze, replacing the $DOGE ticker with $SHIB as the app’s highlight image.
Shiba Inu is a meme currency with a large following that continues to top social sentiment statistics. Despite a price drop and a consolidation phase, Shiba Inu remained a trendy topic on social media, according to Santiment data.
$SHIB managed to overtake Polkadot ($DOT) and $XRP at one time, and if it can replicate that rally again, it might very well remove another zero from its price.