Rumors of Robinhood Listing, Surges Prices of Shiba Inu by 16%

Where the overall crypto market surged in the last 24 hours, meme coins were the highest gainers.

There was a rise of 16% in the prices of Shiba Inu (SHIB), after rumors of it being listed on Robinhood surfaced. 

The price of SHIB reached $0.00003, it is the 13th largest cryptocurrency, having a market capitalization of around $17 billion. 

According to the price charts, this was a bounce, from the resistance-turned-support level of $0.000027. However, since October it has been on a downtrend with a 62% dip in prices after reaching an all-time price high of $0.00008. 

The rise in prices was after the rumors of SHIB being listed on Robinhood surfaced on Twitter. CEO of Robinhood has completely denied the rumors and has indicated that there are currently no such plans.   

With the bump in SHIB, other meme coins such as Dogecoin (DOGE) also gained by 14% in the last 24 hours. Two other meme coins, Baby doge and floki Inu also surged by 10% in the same period.   

Disclaimer: The article is meant for the educational purpose only and in no way it should be considered as financial advice. Own research on the topic is advisable.

Photo by geralt on Pixabay