Robinhood Adds New ‘Altcoins’ Tab on its App, Fuels Shiba Inu Listing

Vinod Dsouza
Robinhood could list Shiba Inu as they don’t want to miss out on the larger share of the revenue pie.
Source: Robinhood Facebook

Robinhood added a new ‘Altcoins’ tab on its app and as a result fueled rumours of a Shiba Inu listing.

Reports were doing the rounds that Robinhood has ‘locked and loaded’ SHIB on its platform.

Investors shared screenshots of Robinhood’s new ‘Altcoins’ tab on Twitter as Robinhood was seen continuously updating their Altcoins category.

Previously, a search for Shiba Inu on the Robinhood app displayed various other companies but now a simple search for SHIB shows a blank page.

Rumours are doing the rounds that Robinhood is testing SHIB on their platform. So investors believe that Robinhood would list it after they release their much-awaited ‘crypto wallet’.

Stock and crypto analyst, Del Crxpto, who was the first to reveal in July that Robinhood would get Shiba Inu on board took to Twitter saying,

”I am seeing signs of $SHIB coming on @RobinhoodApp! Every day I search $SHIB on @RobinhoodApp (multiple times), each time, for months, the same list of companies would come up… now all of a sudden I search $SHIB on RH and its blank!!!”

Top SHIB influencer Milkshake tweeted,

”Reports of @RobinhoodApp continuously updating their ‘Altcoins’ category. Could this be? Are they testing something? #ShibArmy $SHIB.”

Robinhood Shares Spike Post Shiba Inu Listing Rumours

The share price of Robinhood spiked up post the Shiba Inu speculations. As a result, it rose +1.5% in the days trade yesterday, is up +0.31% today and is trading at $41.83.

The stock price of Robinhood had reached an all-time high of $85, plummeted to $33.25 and at present is at its monthly high.

Robinhood experienced exponential growth after listing cryptocurrencies on their app. They earned close to 41% of their net revenue in FY21 through cryptos.

Robinhood latest quarterly filing shows they earned $233 million in revenue with cryptocurrencies. 62% of these transactions came from Dogecoin alone.

At present, WeBull, eToro, Coinbase Pro, Binance and Coinbase, have listed SHIB on their platform.

Shiba Inu Forges Ahead

Just yesterday, Brazil’s leading exchange platform Novadax listed Shiba Inu on their platform.

NOW Payments announced they would allow users to transact SHIB, Leash and Bone, and also generate burns on their e-commerce website.

As per data released by ICO Analytics, Shiba Inu was the sixth most discussed cryptocurrency on social media in September 2021.

SHIB is only behind giants Ethereum, Bitcoin, Solana, Cardano and Binance respectively, and also beat its rival Dogecoin, which is in the seventh position.

Shiba Inu at the time of publishing was trading at $0.00002856 and is up +1.89% in the days trade.

The coin displays bullish sentiments and if Robinhood listing goes through in the coming weeks, its price could propel further and reach new highs.