Robinhood finally lists Shiba Inu causing SHIB price to surge

After a long wait, Shiba Inu (SHIB) has finally been listed on Robinhood. The meme-coin was listed today alongside other major cryptocurrencies that included Polygon (MATIC), Solana (SOL), and Compound (COMP)

The listing comes after a year of vigorous lobbying from the SHIB community which last year had collected signatures to appeal to Robinhood to list the dog-themed token.

Just last year, Robinhood CEO Vlad Tenev had indicated that the US trading platform had no real plans of listing SHIB anytime soon and in a Q4 2021 earnings call, he said:

“We’re being deliberate. We want to avoid triggering SEC registration requirements for cryptocurrencies.”

Robinhood is however yet made an official announcement and it does not seem as if the added coins are yet for trading yet.

Robinhood already supports Dogecoin (DOGE), which is also a dog-themed meme coin.

Shiba Inu (SHIB) price surge following the news

Immediately the news on SHIB listing on Robinhood broke, the price of SHIB shot up by over 10% and it was up by 15.65% at the time of writing.

The price of Shiba Inu has long stagnated below $0.00003 since the drop between the end of November 2021 and the end of January 2022. The SHIB community expects the Robinhood listing to propel the meme coin’s price to at least above $0.00003 even as it awaits the launch of Shiba Inu’s metaverse.

Plans to integrate Bitcoin Lightning into Robinhood

At this year’s Bitcoin Conference 2022 in Miami, Robinhood, chief product officer, Aparna Chennapragada, revealed Robinhood’s plan of integrating the Bitcoin Lightning Network into its platform to enable faster transactions.

The Lightning Network is a layer-2 network built on Bitcoin that allows speedier transactions at a much lower cost.

In a recent post, Robinhood said:

 “Enabling send and receive functionality is just the first step in an exciting journey for Robinhood Crypto. We’re building to enable customers to do more with their wallets and reduce cost wherever we can when they interact with the crypto ecosystem.”