Shiba Inu, Solana soar as Robinhood expands its crypto offerings

Tuesday, April 12, 2022
author picture Lucas Simon
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Original content created by news.limited staff

Price of Dogecoin and Shiba Inu Solana soar As Robinhood Expands Its Crypto Offerings

We've already seen the price of Dogecoin and Shiba Inu Solana soaring as Robinhood expands its crypto offerings. But what's the real story? This article will shed some light on the current market cap and supply of Shiba Inu Solana. We'll also examine the value of Shiba Inu Solana to give investors an idea of how the coin could be worth more in the future.

Price of Shiba Inu Solana

Popular cryptocurrencies such as Dogecoin and Solana are now listed on Robinhood. Robinhood has also added a crypto wallet for its users‚ making it possible to send cryptocurrency to other people who use the trading platform. But since Robinhood only lists cryptos that it trades‚ users cannot hold or trade non-Robinhood cryptocurrencies with the wallet. The announcement comes a day after the launch of the new Ethereum competitor Solana and the dog-themed meme-coin Shiba Inu (SHIB). In addition‚ the decentralized financial token Compound (COMP) has been added. The news sent prices of the new cryptos soaring‚ with SHIB surging over 25% in one hour. Other cryptocurrencies‚ like Ethereum-compatible Polygon (MATIC)‚ climbed to single-digit levels. The Shiba ecosystem has a large‚ supportive community. In fact‚ the Shiba ecosystem had more views on YouTube in May 2018 than Bitcoin had by the end of last year. With Robinhood's crypto offerings‚ the Shiba Inu ecosystem is now on track to enter the metaverse this year. While price predictions may seem overly optimistic‚ we will be watching closely for the launch. A recent report from Crowdwisdom360 reveals that the price of Shiba Inu Solana could surge by 45 million percent by 2021. This price jump is attributed to the rising demand for meme coins‚ which have risen alongside other speculative investments during the recent pandemic. Robinhood also plans to list the Shiba Inu on its platform.

Market capitalization

Today‚ the crypto brokerage service Robinhood added four new coins to its list. The four new coins are Ethereum competitor Solana (SOL)‚ dog meme coin Shiba Inu‚ blockchains Solana and Polygon‚ and the decentralized finance token Compound. The announcement resulted in a huge price jump for SHIB‚ which surged nearly 25% in one hour. Other coins in the new list shot up to high single digits. The addition of Shiba Inu Solana to Robinhood's crypto offerings has had a positive impact on the cryptocurrency market‚ and the resulting increase in value is being attributed to the company's recent listing. While the overall market cap of all cryptocurrencies has fallen by a fraction of a percent in the last 24 hours‚ Solana‚ Polygon‚ and Compound all saw their prices rise. The most notable increase has been in Shiba Inu‚ which is primarily driven by retail investor hype. While the Shiba Inu Solana has increased 20% in the last 24 hours‚ other coins have seen a significant jump. MATIC‚ COMP‚ and SOL all gained around 12 percent in the last few hours. The Shiba Inu price is unlikely to rise much further for several weeks‚ as it lacks a long-term wallet holder. The new addition of Shiba Inu Solana to Robinhood's crypto offerings marks the second largest expansion of its crypto offering. After Dogecoin‚ SOL and Polygon‚ the company said it would add four new cryptocurrencies to its online platform. The new additions are expected to further boost the prices of the popular meme coins. Robinhood's announcement also adds Dogecoin‚ DOGE‚ MATIC‚ and SOL. As of October 1‚ 2018‚ the platform supports seven cryptocurrencies‚ including Dogecoin ($DOGE)‚ which is popular with memes. Although the market cap of Dogecoin is far behind Bitcoin and Ethereum‚ offering trading in memecoins is a lucrative business for the exchange. However‚ the company has warned investors of the volatility of crypto investments‚ so it is best to use a reputable exchange when investing in these currencies.

Supply of tokens

The cryptocurrency exchange Robinhood has recently announced that it has expanded its supply of Shiba Inu Solano tokens by adding four new cryptocurrencies to its list. These include the memecoin Shiba Inu‚ blockchains Solana and Polygon‚ and the DeFi lending protocol Compound. Robinhood says that the coins are now listed on the platform and can be purchased and sold. In recent days‚ two cryptocurrency exchanges‚ Binance and Gemini‚ have announced their support of Shiba Inu Solana‚ but the newest is Robinhood. Although the cryptocurrency market has recently emerged as a hot property‚ this hasn't yet gotten Robinhood's attention. But the company has been under pressure to add the cryptocurrency as it becomes more accessible to investors. The cryptocurrency exchange's new additions include the meme coin Shiba Inu and the original decentralized finance token Compound. The Shiba Inu has surged 25% in early trading on the news‚ while Solana and Compound were each up nearly 8%. The company's other new offerings have risen to high single digits. The news piqued investor's appetite for cryptocurrency. Osprey Funds‚ a leading digital asset investment firm based in New York‚ has filed with the U.S. Securities and Exchange Commission to provide an investment offering focusing on Solana (SOL). The company plans to offer the service to accredited investors and to outside investors who have a minimum of $10‚000. If you're an accredited investor‚ the SEC-regulated investment platform won't charge fees for SOL.

Value of tokens

Robinhood has added Shiba Inu (SHIB) tokens to their lineup of cryptocurrencies. As of today‚ the price of SHIB has increased by nearly 17% since the coin was listed on the exchange. This increase was the result of a token burn‚ which has reduced the circulating supply. This is good news for investors‚ but it doesn't mean that the tokens will instantly jump in value. The new additions to Robinhood's trading platform include four popular cryptocurrencies. Shiba Inu‚ Solana‚ Polygon's MATIC‚ and Compound's COMP all became available on the platform. This move has boosted the price of Shiba Inu by 7% in a single hour. The company also recently activated its cryptocurrency wallet for its two million users. This wallet will allow investors to move their digital assets from one platform to another. Robinhood's announcement to add SHIB tokens to its trading app is a major boost for the meme-crypto‚ which has been lobbying for a listing on online brokerages. Since adding four new cryptocurrencies to its trading platform on Tuesday‚ the cryptocurrency has jumped by over 7%. The announcement follows months of lobbying by the SHIB community. Robinhood's trading platform is similar to Bitvavo‚ which allows investors to trade traditional financial assets and stocks. However‚ as of this writing‚ SHIB is down 17% on the year and COMP‚ SOL‚ and MATIC are down 40% year to date. Those same three cryptocurrencies have also been hit hard in 2018‚ and while Bitcoin is down 15 percent year-to-date‚ they broke even last week‚ so it would be wise to wait a while before investing in these cryptocurrencies.