Robinhood

The petition to list SHIB on Robinhood surpasses 250,000 signatures

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A petition by cryptocurrency group Shiba Inu, seeking 300,000 signatures from supporters to persuade the Robinhood exchange to add SHIB on their platform, is about to become one of the top petitions signed on Change.org after receiving 253,763 signatures.

The petition, which was posted by Tristan Luke on May 10 this year, is one of the many strategies the Shiba Inu team used to get the cryptocurrency listed on large exchanges and become used as the payment method in online stores. Given the massive support for the current petition, the SHIB community should be just close enough to convince the Robinhood exchange to list the currency. If successful, the listing will mark another massive breakthrough for the token. Just last month, the Shiba Inu community saw the listing of the SHIB token on Coinbase through another petition that saw 41,406 supporters sign.

Robinhood – The importance of listing on large exchanges

Following the announcement of the listing on Coinbase, the community saw massive volumes of SHIB traded. Before listing, the 24-hour trading volume was only $0.5 billion, but now it is averaging a $2 billion 24-hour daily trading volume, according to CoinMarketCap. The same data show that the SHIB price has increased by over 200% since last month.

Shiba Inu, who is considered by some to be the “Dogecoin killer”, is trying to capitalize on Dogecoin’s progress and its popularity on Robinhood. This lobby has seen the cryptocurrency among the top 20 in market capitalization, now standing at $13.5 billion. Like Dogecoin, SHIB relies heavily on memes and popularity for “survival”, and is not correlated with Bitcoin.

Given the huge success after the listing on Coinbase, a listing in the Robinhood app would also most likely prove extremely helpful, given the app’s popularity in the United States. The app reported that it generated 50% of its cryptocurrency-based revenue in the second quarter of this year, with a majority of about 62% of it coming from Dogecoin transactions.

The Shiba Inu group has posted other petitions on Change.org, including requesting that the crypto be added as a payment method on Apple’s payment system and listing the coin on the Bitso and eToro exchange lists. The team also created a petition to get the coin listed on another popular exchange, Gemini. Meanwhile, being based around hype and online trends, Shiba Inu also does a lot of lobbying for listing on these platforms, especially on Twitter, using famous figures.

Elon Musk’s influence on Shiba’s price increase

In a somehow expected way, the SHIB team also created a petition for Tesla to accept the cryptocurrency as a payment method for buying its vehicles, just like it did with BTC. However, the petition calling for this has only been signed by 104 supporters and has a long way to go, with slim chances of success – but it indeed causes hype.

Tesla CEO Elon Musk, who has openly expressed interest in meme tokens and provided a lot of support for Dogecoin, has also been writing tweets hinting at Shiba Inu. Earlier this month, a tweet with a picture of his Shiba Inu puppy, named “Floki,” caused the SHIB price to rise by 30% in less than 24 hours.

Whaletank Team

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