Cryptocurrency

Robinhood Discusses Shiba Inu (SHIB)

The cryptocurrency platform Robinhood has shared a detailed post on X, focusing on the rise of Shiba Inu. The thread titled “Let’s Talk SHIB—One of Crypto’s Most Popular Stories” highlights the history and some achievements of the token’s ecosystem.

Origin Recap

In its post, Robinhood Crypto Europe outlined how the asset was launched by the pseudonymous developer Ryoshi on July 31, 2020. The platform emphasized that the token began with an initial supply of 1 quadrillion the token.

One notable part of its early history is the transfer of half of the total token supply—500 trillion SHIB—to Vitalik Buterin, the co-founder of Ethereum. Robinhood detailed how Buterin later chose to burn 410 trillion of these tokens and donated the rest to charity.

Robinhood also highlighted that the token is a community-driven project. The platform praised the decentralization model behind the token, where its development and growth have been led by its community members.

The Growth of the Ecosystem

Since the beginning, the digital asset development team has launched several projects that have expanded its ecosystem. Robinhood mentioned key projects like the Shibarium Layer-2 blockchain scaling solution, the ShibaSwap decentralized exchange, and an ongoing metaverse project.

Impressive Market Performance

Robinhood also acknowledged the remarkable success the asset has seen since its launch. Initially introduced as a memecoin, its growth exceeded many expectations, including those of Buterin, who predicted that the token could lose 100 times its value.

Contrary to these expectations, the asset saw a meteoric rise, with its price reaching an all-time high (ATH) of $0.00008845. This surge marked an extraordinary increase of more than 157 million percent from its initial trading price of $0.000000000056.

Robinhood’s Support

Despite Robinhood’s selective listing process, the digital asset has secured a spot on the platform. It was first introduced to Robinhood’s U.S. users in April 2022. Later, as Robinhood expanded its crypto services into Europe in November 2023, SHIB was included in its offerings there as well. Robinhood is one of the largest holders of the token, with its holdings exceeding 47 trillion tokens.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.


Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

Buying This Dogecoin Killer Now Is Like Buying Shiba Inu Before 8,000% Surge In 2021, Analyst Says

An anonymous crypto analyst , renowned for his accurate predictions, has made a massive price…

2 hours ago

Crypto Analyst’s Price Prediction Takes Community By Storm: XRP Price At $100 And Dogecoin At $55?

Price predictions are increasingly becoming an intrinsic feature in the crypto landscape, and a famous…

6 hours ago

Top Crypto ICO to Watch in 2024: Missed Ethereum? This New Viral Crypto Presale Could Be Your Next Chance

In 2014, Ethereum’s Initial Coin Offering (ICO) took the world of cryptocurrency by storm, raising…

8 hours ago

17 Trillion SHIB In 24 Hours: Here’s What Happened

Shiba Inu is experiencing a surge in market activity, capturing attention with approximately 17 trillion…

11 hours ago

Expert Expects SHIB Higher Time Frame Continuation, Calls SHIB Army to Buy the Dip

Crypto chartist CryptoAmsterdam recently advised Shiba Inu (SHIB) investors to view every price dip as…

12 hours ago

Ripple CTO Explains Investment Contract and Why SEC Is Wrong About XRP

David Schwartz, Ripple’s Chief Technology Officer, recently highlighted significant distinctions between contracts and “reasonable reliance,”…

13 hours ago