Shiba Inu is up in price by 35% after listing on Robinhood

As of April 13, the mem token is trading 70% below its all-time high

13.04.2022 - 12:50

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What’s new? On April 12, the price of Shiba Inu (SHIB) rose by more than 35% to $0,000030, according to Binance. This is the highest level in almost two months. The altcoin’s rise in price came after its listing on the Robinhood platform. The price of SHIB is $0,000026 on April 13, which is 70% below its all-time high of $0,00008854, which was reached in October 2021.

Link to Robinhood’s press release

What other reasons could be behind SHIB’s rise? According to analytics firm IntoTheBlock, the rise of the meme token may also be associated with a period of accumulation of the asset. The addresses that have owned SHIB for more than a year have increased their balance sheet by 57% over the last month. The investors now hold 2,82% of the SHIB supply in circulation.

Source: Twitter.com

What is known about Shiba Inu? SHIB is an Ethereum-based meme token (ERC-20). The altcoin was launched as an alternative to Dogecoin (DOGE) in August 2020 by an anonymous individual or group of developers under the pseudonym Ryoshi.

What is known about Robinhood? It is an American company that provides the opportunity to trade stocks and exchange-traded funds (ETFs). It was founded in April 2013 by Vladimir Tenev and Baiju Bhatt.

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