A meme-based cryptocurrency with a large following received one of its biggest wishes Tuesday with the listing on Robinhood Markets Inc (NASDAQ:HOOD).
Here’s how an investment in Shiba Inu (CRYPTO: SHIB) has performed since rumors of a Robinhood listing were started.
What Happened: Robinhood announced it added four new cryptocurrencies to its platform with Shiba Inu, along with Solana (CRYPTO: SOL), Polygon (CRYPTO: MATIC) and Compound (CRYPTO: COMP).
Shiba Inu became one of the top trending cryptocurrencies in 2021 and the coin hit a record $0.00008845 in October. The coin often trended on Twitter Inc (NYSE:TWTR) and Alphabet Inc’s (NASDAQ:GOOG)(NASDAQ:GOOGL) Google search.
Many fans pointed to the coin hitting the 1-cent level, similar to the Dogecoin (CRYPTO: DOGE) community rallying behind getting the coin to $1.
Among the catalysts for the coin was the addition of Shiba Inu added to additional cryptocurrency trading platforms. Among the largest calls was for Robinhood to add Shiba Inu with a Change.org petition started in May 2021 that saw hundreds of thousands sign in support.
“This petition is designed to kindly request of Robinhood to please list Shiba Inu coin to trade,” the petition read.
Other cryptocurrency platforms like Kraken and Coinbase Global (NASDAQ:COIN) gave way and added Shiba Inu, but Robinhood for most of late 2021 and early 2022 shrugged off rumors saying it wasn’t interested.
A report in December signaled that Shiba Inu was getting closer to a Robinhood launch with a date of January orginally cited.
See Also: How To Buy Shiba Inu
The $100 Investment: The petition on Change.org was started in early May but really picked up steam in late May with hundreds of thousands of signatures. A Newsweek article on June 2, 2021 pointed to the petition on Change.org for Shiba Inu being one of the top 10 on the site in the month.
For a starting investment point, we use this June 2 article when Shiba Inu was trading at $0.00000981.
A $100 investment in Shiba Inu could have bought 10193679.92 SHIB at the time. The $100 investment in Shiba Inu would be worth $266.77 today based on the current price of Shiba Inu of $0.00002617.
Time will tell is the Robinhood listing of Shiba Inu can act as a catalyst to get Shiba Inu back to all-time highs. And for an update on the petition to add Shiba Inu to Robinhood, it now has over 5.6 million signatures.
