Shiba Inu’s onboarding on the Robinhood exchange was a spectacle in the broader cryptocurrency market. The trading exchange listed SHIB on April 12, 2022, with great pomp and grandeur. Under every Twitter post of the trading platform, the community bombarded them with ‘Hey Robinhood, When SHIB?’ and even CNBC’s Jim Cramer got talking about it on his segment Mad Money with CEO Vlad Tenev.
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Talks about Shiba Inu soaring in value were the talk of the town as Robinhood boasts of nearly 26 million users. It was expected to receive an influx of funds as millions of users were allowed to buy the token. Several new traders brought SHIB after the listing, taking both short and long-term entry positions. Downloads and new registrations on Robinhood also experienced a surge with younger investors making a beeline to buy the token.
Shiba Inu Investors on Robinhood
Robinhood has not officially disclosed the data on how many users have purchased Shiba Inu on their platform. The numbers remain a mystery to date, as the exchange respects and maintains user privacy and data. However, out of the 26 million users, 12 million to 13 million of them are active users and trade regularly. That’s nearly 50% of their user base who are actively investing in stocks and cryptocurrencies.
Even if 5% of Robinhood’s active users have bought and sold Shiba Inu, that would take it to 600,000 investors. Nonetheless, this is only a wild guess and not confirmed data from the leading exchange. Usually, each cryptocurrency or stock would have around 5% as the highest amount of investors, and could go lower if there’s no demand.
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It’s been more than three years since Robinhood listed Shiba Inu on its exchange, and the price has barely surged. The influx of new investors has stalled due to SHIB’s stagnation in price. The dog-themed token is testing the patience of investors as it’s only moving downward but rarely upward.