Dogecoin may be a lighthearted joke, but it's no laughing matter when your money is involved. Jim Cramer – host of “Mad Money” on CNBC – recently claimed that Dogecoin is security eventually regulated. Is Doge A Security? Cramer issued a warning about the meme coin in a tweet on Thursday. Were the SEC to agree with his assessment, he suspects exchanges will come under fire for making money from newly “created” Dogecoin. “Please be careful with Dogecoin...It is a…
Shiba Inu (SHIB) is a token born relatively recently, appearing on the market in August 2020. Those who created Shiba did so in the wake of another cryptocurrency having as its symbol that same dog breed: the Dogecoin (DOGE). DOGE was born seven years earlier as a mere joke, but it became a natural phenomenon in 2021.
Shiba Inu immediately attracted the attention of investors, triggering decisive price hikes. Its fame has grown so much that, today, one of the favorite apps of crypto investors, Robinhood, seems to be close to listing it.
In this article, we will first provide an overview of meme coins. Then, we will continue analyzing SHIB and the Robinhood system and the possibility that the trading app will include this crypto in its offer. Finally, we will share any other relevant development of this story in the news section of our website.
Crypto 2022 – DOGE, Shiba Inu and the other meme coins
Shiba Inu Coin is a meme token based on ERC 20 technology, introduced by Ethereum. The symbol of SHIB is similar to DOGE’s. The only difference between them is that SHIB uses a cartoon version of the famous dog.
Although DOGE’s initial project was probably nothing more than a parody, SHIB works differently. Unfortunately, this is not true for many meme coins, often interested in living as a momentary phenomenon. Nevertheless, SHIB is here to stay, as several of its features seem to promise.
For example, not all meme coins choose to work on the ERC 20 protocol. Many ERC 20 tokens are not connected to funny online memes, working on complex blockchain systems. As you will probably have noticed if you are familiar with the subject, most meme coins work on the BSC system offered by Binance. This is a popular choice in the meme niche since these projects are not meant to last, and BSC is generally a cheaper option.
SHIBARMY is the name of the community on which Shiba Inu is based. This user group is very active and is an integral part of the entire project. It is probably for these premises that some important platforms (such as Coinbase) have decided to include this cryptocurrency in their offering list.
How does Shiba Inu work?
Therefore, the entire project is based on a close collaboration between a team of developers and Ethereum ERC 20 technology. On the other hand, ShibaSwap, allows access to exclusive NFT (non-fungible token) that users can exchange.
The wood paper of the project is what is generally called white paper. It is a text file that explains the intrinsic functioning of the project in broad terms. Typically, a white paper is just the starting point for an investor to get information about a new blockchain initiative.
Robinhood (RH) is the most popular zero commission online broker in the US, with over 10 million users. This company recently went public on the NASDAQ, under the ticker HOOD.
The great success of Robinhood depends on the fact that there are no commissions for trading on stocks, options, or cryptocurrencies. However, due to changes at the sector level, RH is no longer the only player applying this kind of condition on the market.
The company’s target customer base consists of young beginners. Unfortunately, they do not have significant financial experience or knowledge. Furthermore, the app attract them through advertising that heavily relies on words like “free” and “democratization”.
Overall, this tactic has been successful, resulting in 10 million accounts held by an unknown number of customers. It is also worth mentioning, among RH’s success elements, the possibility of buying or selling fractional shares. This operation carried out through CFD derivative instruments allows users to trade a fraction of costly claims at a low price.
Can Shiba Inu get obtain a listing on RH?
A few days ago, the popular Twitter account “Shiba Inu News” shared an exciting rumor. Allegedly, the company recently had an internal executive meeting to discuss the possibility of including SHIB in the crypto offer of the portal.
This isn’t the first time we’ve heard about this project. Faced with the enormous rise in the price of SHIB, many RH fans began asking their broker to act earlier in October.
Meanwhile, as previously mentioned, a major exchange like Coinbase already allows SHIB trading. This difference is creating a debate in the crypto universe, suggesting that RH may move in this direction too.
Crypto exchanges 2022 – What to expect from RH?
Shiba Inu rests on a solid blueprint, unlike most meme tokens. This initiative aims for the future and not for a short mania. Of course, there are still several aspects to evaluate. However, the conditions for this token to attract lot of talk in the coming years are there.
We do not know much about what will happen to this crypto. Still, January may be the right timing for RH to start offering SHIB. We will see if RH also will decide to follow Coinbase and the other exchanges on this journey in the future. At the moment, we notice an incredible frustration of Robinhood’s users fearing that they might miss out on this opportunity.