Shiba Inu Coin Transfers Goes Live on Robinhood Crypto, Will SHIB Rally to $1?

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As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I find myself intrigued by Robinhood Crypto EU’s latest move to support Shiba Inu coin transfers. This comes hot on the heels of their recent listings for Pepe Coin and Dogecoin, which have certainly stirred up a frenzy in the meme coin market.

On the weekend, Robinhood Crypto EU broadened its assistance for the meme currency Shiba Inu coin in cryptocurrency transfers. Additionally, the trading app offered a 1% bonus to users who moved their tokens from other crypto platforms. This announcement promptly sparked interest among traders, resulting in significant price fluctuations for SHIB.

Robinhood Crypto Now Supports Shiba Inu Coin Transfers

On November 9, Robinhood Europe‘s cryptocurrency division publicly announced the inclusion of the Shiba Inu coin in the list of digital currencies compatible with crypto transfer transactions.

For a brief period, the commission-free cryptocurrency trading application is offering a one-time incentive: a 1% bonus. To qualify, users must transfer their Shiba Inu (SHIB) tokens from other digital asset platforms and deposit them into their Robinhood account. This action will earn them the stated bonus.

Currently, the crypto transfer platform supports deposits and withdrawals of thirty distinct digital currencies such as Bitcoin, Ethereum, Solana, and Cardano, according to Robinhood’s official site. The service empowers users by providing control, security, and insurance against criminal activities, while also offering educational programs for added value.

$SHIB is available for transfers on Robinhood Crypto!

Withdraw and Deposit #SHIB, and, for a limited time, get a 1% bonus on your deposits.

Terms apply. Get started: #RobinhoodOnchain

— Robinhood Crypto EU (@RobinhoodCrypto) November 9, 2024

Nevertheless, some significant cryptocurrencies like XRP and Toncoin (TON) have yet to be included in cryptocurrency transfers, even though they’ve been listed recently by Robinhood Europe.

Will SHIB Price Rally Similar to DOGE and Pepe Coin?

In recent developments, Robinhood has incorporated Pepe Coin (PEPE) and Dogecoin (DOGE) into their transfer options. Following this announcement, the value of Pepe Coin has surged by approximately 40%. Similarly, the price of Dogecoin saw a 45% increase after the news was shared last week.

This raised questions about whether the Shiba Inu token might experience a surge of around 40% or more in the upcoming period. However, the Shiba Inu’s price has risen by just 14%, despite the increased optimism in the market following the “Trump trade.

Over the past 24 hours, I’ve noticed a surge of about 1% in the price of my Shiba Inu coins, now sitting at $0.00001923. The day’s lowest and highest points were at $0.00001847 and $0.00001966 respectively. Moreover, the trading volume has seen a significant boost by 23%, suggesting a heightened interest among fellow crypto traders.

In the derivatives sector, the overall value of Shiba Inu futures contracts (worth about $164 million) has increased by 2% within an hour and a significant 6% over the past 24 hours, reaching a total of 3.34 trillion SHIB. Notably, Binance experienced an 8% rise in open Shiba Inu futures contracts. A strong positive sentiment towards meme coins can potentially fuel a surge in Shiba Inu’s price, potentially even driving it up to $1.

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2024-11-09 16:30