Shiba Inu Investors Launch Petition: What Power Do Small Investors Have?

May 28, 2022 Off By Deanna Coleman

A petition by the Shiba Inu cryptocurrency group demanding 300,000 signatures from supporters to persuade Robinhood to list SHIB tokens is on track to become one of the most signed petitions on Change.org, having already garnered 253,763 signatures Has.

The petition was started on May 10 of this year by Tristan Luke. Given the massive support for the current petition, the SHIB community appears to be on track to be included in Robinhood. If successful, listing would mean another massive advancement for the meme token.

Exchanges Are Essential To The Price Of A Cryptocurrency

Regardless of whether it is a meme token or a serious cryptocurrency project from the start. Without large stock exchanges, a cryptocurrency will not be able to assert itself. In addition to the hope of making high profits with a cryptocurrency, trust also plays an important role for many investors.

When exchanges such as Binance, Coinbase or Robinhood list a cryptocurrency, the cryptocurrency not only attracts more attention due to the number of users on the exchanges, but also automatically gains the trust of potential investors. Just last month, Coinbase added Shiba Inu. Investors had also started a petition for this, which a little more than 40,000 users had signed.

Coinbase Listing Had Exploded Shib Trading Volume

Before the Coinbase listing, 24-hour trading volume was less than $0.5 billion, now it averages $2 billion per day, according to data from CoinMarketCap. The same data shows that SHIB’s price has increased by over 200 percent since last month.

Shiba Inu, a parody currency itself inspired by Dogecoin , relies on DOGE’s progress and gained popularity on Robinhood.

The listing on Robinhood would be very helpful for the cryptocurrency, because the Robinhood app is particularly popular in the USA. As reported by Robinhood, the exchange generated 50 percent of its transaction-based revenue from crypto transactions in the second quarter of this year, with DOGE accounting for around 62 percent of crypto transaction revenue.

As a result of Elon Musk’s tweet, the Shiba Ina price rose by around 200 percent within a few days, with the cryptocurrency only just missing a new all-time high. If Robinhood actually takes in Shiba Inu, the price could rise again enormously. Currently, SHIB is trading at around 0.00002543 and is the 20th-ranked cryptocurrency on the market with a market cap of $10 billion.

Analyzing recent performances of Dogecoin and Shiba Inu

Shiba Inu: The Cryptocurrency Is So Popular At Binance

In recent weeks, Solana (SOL) , Binance Coin (BNB) and Shiba Inu (SHIB), among others, have made positive headlines – at least for investors. Two of these cryptocurrencies are particularly popular.

Binance Coin (Bnb) Is The Most Popular Currency On Binance

The most popular cryptocurrency is currently the in-house cryptocurrency Binance Coin (BNB). According to data from Finbold , as of November 15, 2021, BNB recorded the highest number of searches among the top 15 cryptocurrencies trending on the Binance platform. Additionally, SHIB took second place, showing that interest in the meme token has not waned despite its crash from its all-time high.

Additionally, Binance’s trading volume dominance shows that 64 percent of BNB, the platform’s native token, is traded on the exchange itself. Shiba Inu is also traded at 44 percent on Binance. Above all, the inclusion in the US crypto exchange Coinbase caused euphoria among investors. In German-speaking countries, on the other hand, Bitpanda has established itself for the purchase of Shiba Inu.

Shiba Inu Now Available At Gemini

Shiba Inu is currently very popular with the two crypto exchanges Robinhood and Kraken in particular. Kraken even confirmed the inclusion on November 2nd, but the implementation is still a long way off. The competition has taken advantage of the response, so Gemini now offers Shiba Inu, among others.

Gemini was created by the Winklevoss twins. The siblings gained notoriety through the legal dispute with Facebook, since Mark Zuckerberg is said to have misappropriated the twins’ ideas for the social network Facebook.

The Winklevoss twins caused a lot of media coverage back in 2013 with their Bitcoin investment. For years they have been assuming that the Bitcoin price will be at least in the mid-six figures.