Shiba Inu: Robinhood Enables SHIB Trading In New York

Paigambar Mohan Raj
Source: Watcher Guru

Robinhood, one of the most popular cryptocurrency exchanges, has finally added Shiba Inu (SHIB) to its list of assets available to clients in New York. Apart from SHIB, the exchange has included Compound (COMP) and Avalanche (AVAX) for its New York clients.

SHIB was initially listed on Robinhoon in 2022, about two years ago. However, the asset was unavailable to all clients due to regulatory concerns. Despite being a global financial hub, New York was one such region where clients could not trade SHIB.

Also Read: Shiba Inu: Whale Wallet Moves 3 Trillion SHIB Tokens, Here is Why

Robinhood is a popular exchange among Shiba Inu (SHIB) fans and investors. The platform currently holds about 42.123 trillion SHIB, worth around $1.06 billion.

Will Shiba Inu (SHIB) rally after Robinhood’s New York move?

SHIB is one of the most popular cryptocurrencies in the market, while Robinhood is among the most popular crypto exchanges. Moreover, New York is one of the biggest financial hubs in the world. Making SHIB trading available to New Yorkers might increase SHIB’s adoption.

Also Read: Shiba Inu: Here’s How to Be a Millionaire When SHIB Hits $0.01

According to CoinCodex, SHIB could hit a new all-time high very soon. The platform anticipates the dog-themed cryptocurrency to surge to $0.00008813 on May 23, 2024. Reaching $0.00008813 from current levels would translate to a growth of about 255%.

Source: CoinCodex

Also Read: Shiba Inu Super Cycle Begins: SHIB To Hit $0.0001 Post Bitcoin Halving?

Changelly also anticipates SHIB to reach an all-time high soon. The platform anticipates SHIB to reach $0.00008739 on May 22, 2024.

The positive outlook around SHIB could be due to Bitcoin’s (BTC) recent halving event. Many analysts anticipate BTC to hit a new all-time high soon. BTC reaching a new peak could lead to a market-wide rally.