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Shiba Inu ($SHIB) Listed on Trading App With Over One Million Users

Shiba Inu ($SHIB) Listed on Trading App With Over One Million Users


The meme-inspired cryptocurrency Shiba Inu ($SHIB) has been listed on the popular training app Public, which has over one million active users and lists both cryptocurrencies and equities.

As reported by Business Insider, the trading app added cryptocurrencies to its platform earlier this month with a limited selection of coins, including BTC, ETH, BCH, LTC, ADA, and others. Rival meme-inspired crypto Dogecoin (DOGE) is also listed on the platform.

Shiba Inu is being added after seeing a dazzling performance that helped it become the 11th most valuable cryptoassets by market capitalization. During a period of high volatility marked by Tesla CEO Elon Musk saying he does not own any SHIB, the cryptocurrency’s trading volume surpassed that of Ethereum.

A spokesperson from Public noted that the app includes volatility reminders for those investing in crypto, saying:

Because the prices of cryptos can be volatile in the short-term and tend to follow different patterns than stock market securities, Public will have Volatility Reminders on crypto pages to ensure investors can make their own decisions with context.

The cryptoassets traded on Public are held by Apex Crypto, and the trading platform now has over one million active users. It was launched in September 2019 as a social investing app, but it quickly grew and now has a market value of $1.2 billion.

Shina Inu calls itself the “Dogecoin Killer” and is listed on its own decentralized exchange ShibaSwap, while having two other tokens called “BONE” and “LEASH.” The cryptocurrency, which has a total supply of one quadrillion, was created by a pseudonymous entity going by “Ryoshi,” and has 50% of its total supply locked on decentralized exchange Uniswap.




The project sent the remaining tokens to Vitalik Buterin to be “burned,” but Buterin later sent 50 trillion SHIB, then worth $1 billion, to India’s Covid Crypto Relief Fund. As CryptoGlobe reported, by August only 2% of Buterin’s $1 billion donation had been cashed out. The cryptocurrency has over time been listed on major cryptocurrency exchanges including Coinbase and Binance. 

Supporters of Shiba Inu has over the last few weeks been signing a petition asking commission-free trading platform Robinhood (NASDAQ: HOOD) to list their cryptocurrency on their platform.

The petition, titled “Kindly request of Robinhood to list Shiba Inu coin” has, at press time, over 319,600 signatures from backers and is looking to reach 500,000. It mentions that Robinhood has listed Dogecoin ($DOGE), a rival meme-inspired cryptocurrency, that was a “huge success” for the trading platform.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Featured image via Unsplash



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