Shiba Robinhood was established in August 2020 as a Dogecoin substitute. Last Monday, Robinhood included Shiba Inu (SHIB) cryptocurrency on its trading platform, satisfying a long-standing desire of crypto aficionados. As a consequence, the meme coin increased by roughly 30%.
Shiba Inu (SHIBUSD) is an Ethereum-based altcoin (an alternative cryptocurrency to Bitcoin) using the Shiba Inu a Japanese breed of hunting dog as its mascot.
Shiba Inu is generally regarded as a viable alternative to Dogecoin; in fact, Shiba Inu supporters refer to it as “the Dogecoin killer.”
Shiba Inu and Dogecoin are meme coins, which are cryptocurrencies connected with a theme in the instance of Shiba Inu and Dogecoin, the Shiba Inu dog but are frequently created as a parody or inside joke rather than as a digital commodity with genuine use.
While Dogecoin was established in December 2013, Ryoshi, an unidentified person or group, invented Shiba Inu in August 2020. Shiba Inu is an Ethereum-based cryptocurrency whose mascot is the Shiba Inu hunting dog.
It is commonly regarded as an alternative to Dogecoin and is dubbed “the Dogecoin killer” by its fans, known as the SHIBArmy. Ryoshi, a person or group, founded Shiba Inu in August 2020.
Shiba Inu’s pricing more than unfolded on Oct. 29, 2021, giving it a $41 billion market value. Despite a sharp dip in market cap to today’s $16 billion as of Feb 2022, Shiba Inu remains among the top 10 meme cryptocurrencies on this metric.
Shiba Inu’s value more than tenfold increase in October 2021, reaching a peak market capitalization of $41 billion (on October 29, 2021) and ranking among the top 10 meme cryptocurrencies by this metric.
Tesla founder Elon Musk tweeted a photo of his new Shiba Inu dog Floki, which sparked the meme coin’s price. Because Musk is a prominent backer of Dogecoin and the self-proclaimed “Dogefather,” his cryptic tweets often trigger increased volatility in the cryptocurrency market.
Shiba Inu’s price increase in October 2021 almost caught up to Dogecoin’s $36.9 billion market value (as of Oct. 31, 2021), after temporarily stopping it.
It remains to be seen if Shiba Inu will become the “Dogecoin killer” that its increasing fan base, known as the SHIBArmy, predicts.
However, by October 2021, the astounding price rises of this hitherto unknown cryptocurrency have made Shiba Inu the tail that wags the Dog.
Understanding Shiba Inu
The Shiba Inu ecosystem’s guiding principles are outlined in a “woof paper” apparently a pun on white paper, which is accessible at the ShibaToken website.
Shiba Inu was created in response to a simple question: “What would happen if a cryptocurrency project was entirely managed by its community?”
Ryoshi, the company’s creator, credits its creation to an “experiment in decentralized spontaneous community development.”
According to Ryoshi, the potential of collaborative decentralization may generate something much more powerful than a centralized team could.
The SHIBArmy nearly 500,000 members support its original beliefs, which are as follows:
The initiative began with zero, in the concept of making something from nothing.
It was not established by a pre-existing community or team; and
A self-proclaimed fan of Shiba Inu dogs.
Shiba Inu is an Ethereum-based ERC-20 token, therefore it is generated and housed on the Ethereum blockchain rather than its own.
According to Ryoshi, he picked Ethereum to develop the Shiba Inu ecosystem because it was already safe and well-established, and it enabled the project to remain decentralized.
Shiba Inus are recognized for their vivacious and daring personality. These self-assured canines are alert, lively, and very bright. The Japanese characterize this breed with three words: kaani-i, which alludes to their brave spirit, ryosei, which says they have a nice attitude, and sodoku, which means to be attentive.
The Shiba Inu ecosystem is made up of three tokens:
Shiba Inu (SHIB): This is the primary currency of the project. Starting with a supply of one quadrillion (1,000 trillion), Ryoshi locked half in Uniswap for liquidity and gave the other half to Ethereum co-founder Vitalik Buterin for safety.
14 Buterin contributed more than 50 trillion Shiba Inu coins, worth more than $1 billion at the time, to a COVID-19 relief fund in India in May 2021, when the country was suffering from the Delta strain of the coronavirus.
Buterin then “burned” or permanently withdrawn from circulation 40% of Shiba Inu’s entire supply to a so-called low wallet.
Leash (LEASH): The second token in the Shiba Inu ecosystem, Leash is at the other end of the spectrum, with a total supply of just 107,646 tokens compared to trillions of Shiba Inu tokens.
Bone (BONE): With a total number of 250,000,000 tokens, Bone falls between the other two tokens in terms of circulating supply. It is intended to serve as a governance token, allowing the SHIBArmy to vote on forthcoming proposals.
The Shiba Inu Ecosystem also contains the following species:
ShibaSwap: ShibaSwap’s purpose is to offer a secure environment to exchange cryptocurrencies while being decentralized. ShibaSwap is the greatest place to buy and sell SHIB and LEASH.
Shiba Inu Incubator: The incubator’s goal is to go beyond popular creative mediums like painting, photography, and computer rendering to find methods to celebrate creativity and inventiveness.
Shiboshis: Shiboshis are 10,000 Shiba Inu-generated non-fungible tokens (NFTs) inscribed on the Ethereum blockchain, each having unique and collectible characteristics.
In line with the dog concept, the aforementioned Shiba Inu woof paper used canine terminology to illustrate how returns on Shiba Inu tokens might be created.
These tokens may be used to “dig” (offer liquidity), “bury” (stake tokens), and even “fetch” on ShibaSwap (exchange one token for another).
According to the woof paper, tokens employed in these tactics create “Woof” returns in the form of Bone tokens, which are dispersed to token pools known as “Puppy Pools.”
Part of the attractiveness of meme coins for cryptocurrency lovers is that they reject standard procedures, and this unusual approach may extend to the usage of canine terminology to define return schemes.
However, they seem to be a galaxy away from stodgy financial phrases like return on investment and liquidity.
Buying Shiba Inu
Shiba Token’s Quick Start Guide guides potential buyers of SHIB or LEASH tokens through the following steps:
Construct a MetaMask wallet.
Send Ethereum (ETH) to your wallet by purchasing it directly or transferring it through exchanges such as Coinbase. When transferring Ethereum, use the ERC-20 network.
ShibaSwap requires you to connect your MetaMask wallet.
Change your ETH for SHIB, LEASH, or BONE tokens.
Investing in cryptocurrencies is already dangerous due to their extreme volatility and lack of regulation. Investing in the altcoin/meme currency field is made more difficult by a lack of uniqueness and the fact that the majority of their value is dependent on frantic trading by their ardent supporters.
Here are some Shiba Inu investment considerations for a prospective investor.
Shiba Inu (SHIB) costs a fraction of a penny even after its amazing growth, therefore a few hundred dollars can purchase millions of SHIB tokens.
$100 would have gotten you almost 1.5 million SHIB tokens at its highest price of $0.00007482 (on October 29, 2021). At the moment, $100 will get you 3.4 million SHIB tokens, which is more than double the price.
Though its supporters may point out that Shiba Inu-based NFTs are already accessible, and its Ethereum basis may provide smart-contracting capabilities in the future, Shiba Inu currently has extremely little usefulness and no convincing use case.
Shiba Inu’s highest market valuation of $41 billion makes it greater than many Sample firms that have been in operation for decades and have increased revenues and earnings for the majority of that period.
In fact, the total value of Shiba Inu and Dogecoin (as of Oct. 28, 2021) topped the market capitalization of 388 Sample 500 firms. 24 SHIB began trading at $0.00000000051 on August 2, 2020.
Therefore at its highest price of $0.00007482 (on October 29, 2021), it has gained an incredible 14,670,488 percent. This suggests that a $1 investment in SHIB on August 2, 2020, would be worth $146,705 on October 29, 2021.
That astounding return also suggests that Shiba Inu has exceeded its creator Ryoshi’s goal of generating something from nothing.
Those increases, however, were most likely driven by a social-media-fueled speculative frenzy as cryptocurrency fans sought the next great thing. If the bubble breaks, ordinary investors who bought at the top risk being left carrying the bag.
Some recent deals have become investing mythology, such as George Soros’ bet against the British pound in 1991 or John Paulson’s short subprime mortgage trade from 2007 to 2009.
In terms of pure percentage profits, a supposed deal in Shiba Inu by an anonymous trader outperforms even the most famous trades. In August 2020, one dealer allegedly paid $8,000 for around 70 trillion SHIB tokens.
A year later, the share was worth $5.7 billion, accounting for almost 13% of SHIB’s total circulation of 550 trillion. That’s a 7.1 million percent return in percentage terms.
SHIB is an Ethereum-based token that supports smart contracts, making it a Dogecoin competitor/killer. Apart from the fact that he is the founder of Bitcoin, the world has no idea who Satoshi Nakamoto is. Shiba Inu, like Bitcoin, was invented anonymously under the alias Ryoshi.
Finally, the Shiba Inu coin is available on Robinhood
The shibheads’ wait is over: Robinhood is now allowing consumers to purchase and sell Shiba Inu coin, a popular cryptocurrency whose fans have been petitioning the online brokerage to list it.
On Tuesday, Robinhood announced the launch of four new cryptocurrencies to its trading platform, including compound, polygon, and Solana.
Robin Hood’s chief brokerage officer, Steve Quirk, said in a statement that the business was “happy to introduce additional options for our consumers as we seek to make Robinhood the greatest place to invest in crypto.”
According to Quirk, Robinhood evaluates new assets for listing using a “rigorous approach.” CEO Vlad Tenev said that the business is proceeding with caution when it comes to introducing additional coins.
“We’re going to be extremely cautious,” Tenev said on an earnings call last year. “We’re a regulated organization, and we’re hoping for some clarification on coins shortly.""
Shiba Inu coin originated as a satire of dogecoin, another meme cryptocurrency. Tad Park, CEO of cryptocurrency investing firm Volt Equity, described it as “the joke of a joke.”
However, it, like Dogecoin, has taken off, becoming one of the most valuable cryptocurrencies in terms of market value.
Shiba Inu coin actually topped dogecoin late last year, getting to the ninth-largest cryptocurrency before dropping back to the fifteenth rank.
Shiba Inu coin has a large number of ardent fans who refer to themselves as “shibheads” and have worked hard to have the cryptocurrency listed on major exchanges.
Last year, the coin was introduced to Coinbase and Public.com. Shiba fans started a petition with 600,000 signatures to get Robinhood to follow suit.
Shiba surged in response to the Robinhood listing. In late-morning trading, Robinhood shares rose roughly 4%.
Follow the step-by-step instructions below to discover how to acquire SHIB coins in a matter of minutes:
|Step 1||Open a crypto account|
|Step 2||Deposit funds|
|Step 3||Search for SHIB and click trade|
Robinhood Crypto allows you to purchase, trade, and see real-time market data for:
|2||Bitcoin Cash (BCH)|
|3||Bitcoin SV (BSV)|
|7||Ethereum Classic (ETC)|
After Robinhood Markets (HOOD -1.92 percent) announced trading availability on Monday morning, crypto enthusiasts piled into Shiba Inu (SHIB -1.78 percent).
Shiba Inu originally jumped by up to 30% on the announcement, and 12 hours later it was still trading a robust 17% higher than when the news broke.
It’s definitely good news for Shiba Inu to be on a new exchange. It also helps that Robinhood only had seven digital currencies accessible until Tuesday, when it added four additional denominations, including Shiba Inu.
The facts are written below:
1. Robinhood isn’t as relevant as you might think
Without a doubt, Robinhood Markets shook up the brokerage sector a few years ago. Would the majority of the big platforms else provide commission-free trading? The site has now lost its hold on its youthful trading community.
As 2021 progressed, Robin Hood’s popularity waned. There are plenty of numbers to back it up.
Monthly transactional customers fell from 21.3 million in the second quarter to 18.9 million in the third quarter and 17.3 million in the fourth quarter.
The average revenue per user has declined for three quarters in a row. Robinhood’s revenue per user has dropped from $137 in the first quarter to $64 in the fourth quarter.
By the conclusion of the year, assets under custody were lower than they were in the midway of 2021.
The pressure points are all over the place. People are dealing less, and they are exchanging less. That’s not a good picture for a trading platform, and we haven’t even gotten to the most troubling measure yet.
Robinhood is about more than simply cryptocurrency. It’s also a hotspot for stock and options trading. Stock and options trading has been relatively stable in the last three quarters of 2021, but crypto has not.
Robinhood reported $233 million in transaction-based crypto revenue in the second quarter, followed by $51 million in the third quarter and $48 million in the fourth quarter.
To put it another way, cryptocurrency transaction income fell from 52 percent of Robinhood’s business in the second quarter to 18 percent at the end of the year.
2. Every Spike is Different
If getting included in Robinhood’s limited number of crypto options is so laudable, shouldn’t all digital currencies introduced to Robinhood enjoy the same surge?
Two of the three other cryptocurrencies increased by less than 4% in the same 12 hours as Shiba Inu. One has a larger market cap than Shiba Inu, whereas the other has a smaller one.
Is there any reason Shiba Inu should be the one to go higher? Is it just because the Shiba Inu is a meme coin?
There is a positive argument to be made for Shiba Inu; I’m only pointing out that Tuesday’s surge is based on excitement rather than the long-term advantages of a coin that has been added to Robinhood.
You may also want to look at the unimpressive results of some of the seven cryptocurrencies that have been trading on the platform for a longer period of time.
3. It isn’t too late for Robinhood to be taken seriously in Crypto
Robinhood is attempting to make up for the lost time. It’s finally releasing a crypto wallet to make it simpler to take its digital currency away from the platform, but as we’ve seen in prior quarters, crypto traders have already emptied out.
Investors are wise enough to see through Robinhood’s “free” crypto trading, and those who remain on the once-pioneering site are mostly little players these days.
The availability of the Shiba Inu coin is not damaging to the cryptocurrency, but it will also have little impact beyond Tuesday’s initial hype.
To be Precise
Robinhood has finally launched the Shiba Inu cryptocurrency for trading after six months of persistent campaigning by its users. As a consequence, cryptocurrency is skyrocketing. The meme currency was launched on Thursday as part of a bigger expansion of the trading app’s crypto products.
Here are some questions about Shiba Robinhood:
Crypto investors believe that all of these varied techniques will make it very impossible for this cryptocurrency to hit the $1 level. The primary reason for this is that the current Shiba Inu price is US$0.000009939 (down 37.95 percent), with a market value of US$5.46 billion and a volume of US$1.66 billion.
As of January 2022, Robinhood does not support Shiba Inu Coin and has no intentions to offer SHIB in the future. Currently, the exchange only supports seven coins. Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin are the currencies involved (LTC)
Currently, Robinhood offers the purchase and sale of seven cryptocurrencies, including Bitcoin and Ethereum. In addition, the trading tool includes real-time market data for nine additional cryptocurrencies. Robinhood intends to introduce additional digital currency but is doing things slowly.
Shiba Inu is one of the most volatile financial assets in history. The price of $0.01 per token is implausible, but not impossible. SHIB’s price may rise as a result of the new metaverse and burning efforts, but the token remains a high-risk investment.
It is a Dogecoin altcoin, which is an altcoin of Bitcoin. Shiba Inu, a Japanese dog breed, inspired its name. Through its following crowds, memes, tenacity - and a lovely dog - it is already incredibly famous among major crypto exchanges.
Shiba Inu coins will never reach ten cents. Because, in order to attain the value, the market capitalization must be greater than the US GDP! The value of the Shiba Inu currency is determined by two factors: market capitalization and mining dynamics.
Shiba Inu (SHIB) is the fastest-growing crypto asset and one of the tokens that utilize the Ethereum network. Shiba’s price has the potential to climb to moreover USD0. 0001 during the next 12 months, according to Crypto Predictions.
Given this, we can confidently predict that the price of the Shiba Inu Coin will never exceed one cent. There is, however, another possibility. It is to burn supply in order to lower the total amount of SHIB in circulation, raising the price but not the market cap.
DOGE influenced numerous other cryptocurrencies after becoming a top-ten coin. DOGE’s price might rise to $0.70 by the end of 2021. DOGE’s value might rise to $1.60 by the end of 2022. DOGE’s value might rise to $2 by the end of 2023.
Many people have asked how high Shiba Inu can climb. One of the most often asked concerns about SHIB is if the currency would ever hit $100. The Shiba Inu cryptocurrency will never be worth more than $100 per coin. In reality, it’s unlikely that the coin will ever hit $1.00, much alone $100.
To sum up the topic of Shiba Robinhood, it can be said that According to CoinMarketCap, Shiba Inu (SHIB-USD) is the 15th-largest cryptocurrency project, with a market valuation of more than $13 billion. SHIB had a fantastic bull run in 2021, reaching an all-time high of $0.00008845 in October of that year.