Excellent news for the Shiba Inu (+19.78%): the SHIB crypto is (finally!) available on Robinhood!

Robinhood on Tuesday announced the addition of four cryptocurrencies to the trading app, including Compound, Polygon, and Solana.

In a statement, Steve WeirdRobinhood’s chief brokerage, said the company is “excited to add more choice to our customers as we work to make Robinhood the best place to invest in crypto“.

Quirk said Robinhood uses “a rigorous framework” to assess new assets for listing. CEO Vlad Tenev said the company is taking a cautious approach to adding new tokens.

“We’re going to be very careful,” Tenev told analysts on an earnings call last year. “We are a regulated entity and hope to get some clarification on the coins soon. »

The Shiba inu coin started out as a parody of another meme cryptocurrency, dogecoin. Tad Park, CEO of crypto investment fund Volt Equity, called it “the joke of a joke.”

But like dogecoin, it took off, becoming one of the most valuable cryptocurrencies by market value. The Shiba inu coin actually overtook dogecoin at the end of last year, becoming the ninth largest cryptocurrency, before falling back to 15th place.

One of the main strengths of the shiba inu coin is its base of very enthusiastic supporters who call themselves “shibheads” and have lobbied for the cryptocurrency to be added to major exchanges.

Coinbase and Public.com added the token last year. Shiba supporters started a petition, which now has nearly 600,000 signatures, to convince Robinhood to do the same.

Shiba inu rallied around Robinhood’s listing announcement. The Robinhood shares also climbed nearly 4% in late morning transactions.

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