• How important is the Robinhood factor in Shiba Inu price action?

  • Robinhood, an American financial services company, has already carved a niche for itself in the crypto-space. Since its inception, the company has been lauded for pioneering commission-free trades in stocks, ETFs, and cryptocurrencies. As a result, it gained a lot of traction and was eventually adopted by the masses.

    The game of numbers

    Robinhood’s third-quarter report was released less than a day ago. According to the same, transaction-based revenue totaled $267 million, with cryptocurrency trading accounting for $51 million. In the second quarter, revenue from crypto-trading totaled $233 million, with nearly two-thirds of it coming from DOGE-related transactions. Naturally, the aforementioned third-quarter results fell short of analysts’ expectations.

    As a result, in order to strike a balance and fill the void, Robinhood may decide to list SHIB on its trading platform. Consider this: a few days ago, the service platform included SHIB as an option to a question about recent purchases in one of its user behavior surveys.

    This clearly demonstrates that they are conducting market research on the preferences of their customers.

    As mentioned in a recent article, members of the community are eager for Robinhood to include Shiba Inu. A week ago, the petition on Change.org had over 259k signatures. At the time of publication, it had surpassed the 331k mark.

    Tokenomics is becoming more ironic.

    Associating the term “tokenomics” with a meme-coin sounds strange, doesn’t it? Regardless of the ‘joke’ connotation, it should not be forgotten that SHIB is already the eleventh-largest cryptocurrency at this point. As a result, it is critical to assess the state of its metrics before proceeding.

    As soon as the Change.org feat was accomplished, the SHIB Army appeared to be ecstatic on social media. The rising value of the token provided them with yet another reason to rejoice.

    SHIB’s valuation has risen by more than 62,337,600 percent year to date. The coin’s short-term appreciation has also been significant. At the time of writing, SHIB was up 27 percent on a daily basis and nearly 90 percent on a weekly basis.

    Furthermore, this time around, the growth has been quite organic, and it has been accompanied by rising trade volumes.

    Furthermore, the total value locked on its native DEX ShibaSwap has increased by more than twofold in just one month, from $225 million to $461 million – an outstanding achievement.

    Keeping the improving tokenomics in mind, SHIB’s price is expected to rise for some time. As a result, there is no compelling reason for Robinhood not to list the coin in the near future.

    Now, if SHIB is listed, Robinhood’s revenue will most likely increase, and the listing hype will inflate SHIB’s price even more.

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