Since min-January, Shiba Inu has started creating a much-expected wedge pattern for the bullish run.
Although the coin was trading below the two contracting trendlines, it indicated an upside break once the price closes above the structure’s upper trendline.
This bullish trend was triggered by speculations around Robinhood listing SHIB tokens as early as February.
But finally, after six months of aggressive lobbying by its members, Robinhood has listed the Shiba Inu cryptocurrency for trading. And the crypto is soaring as a result.
The launch of the meme coin Thursday was part of a larger expansion of the trading app’s crypto offerings. Solana (SOL), Polygon (MATIC), and Compound (COMP) are also now listed on the site.
Each of the tokens was up sharply in early trading Tuesday. Shiba Inu was up more than 21 percent as of 10:00 a.m. ET. Solana saw gains of 5 percent.
Compound jumped nearly 7 percent. And Polygon’s value was nearly 8 percent higher.
“We’re excited to add more choices for our customers,” said Steve Quirk, chief brokerage officer at Robinhood in a statement.
“We have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform.”
News of the additional offerings comes days after Robinhood made its crypto wallet available to 2 million waitlisted users, allowing them to more directly interact with cryptocurrencies.
Members can use the wallet to buy NFTs and send crypto to other crypto traders with no withdrawal fees, but it can’t hold NFTs and is limited to cryptos that Robinhood trades.
In addition to today’s additions, the platform allows users to buy and sell Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin.
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