![]() “We feel very, very good about the coins that we’re currently listing on our platform,” Tenev said Tuesday on an earnings call. ![]() Not that cofounder and CEO Vlad Tenev is ruling anything out. A petition asking that the brokerage do so had reached 355,000 signatures as of Wednesday afternoon.įor its part, Robinhood is not quite there, yet, considering the swirl of regulatory uncertainty around crypto in the U.S. Perhaps one of the biggest drivers behind the renewed interest in SHIB, which was up more than 40% around midday Wednesday over the prior 24 hours, is the ongoing push to get retail-trader-beloved brokerage Robinhood to list the crypto on its platform. Those so-called Shiboshi NFTs have been selling for thousands of dollars on OpenSea, the NFT marketplace, in recent days, with one even going for 130 million SHIB Wednesday morning, or the equivalent of $8,895.90 at the time. The SHIBArmy has been working toward deploying SHIB in certain use cases, such as through the development of ShibaSwap, a decentralized cryptocurrency exchange, or Shiboshis Social Club, an online community that is built around 10,000 Shiba Inu coin non-fungible tokens. What exactly is driving the crypto higher remains a mystery, just as it has for many other meme assets that have inexplicably spiked at rapid rates this year. Dogecoin is so far up more than 5,200% on the year.Īnd now SHIB seems to be benefiting from a similar move. NFT-fanatic Snoop Dogg rebranded himself jokily as “ Snoop Doge.” And even Kiss’s Gene Simmons said in February that he had bought hundreds of thousands of dollars worth of Doge. Tesla CEO Elon Musk, who came to be known as the Dogefather earlier this year, holds it as just one of three cryptos in his portfolio, with the other two being Bitcoin and Ether. While its very nature is designed to make it cheaper over time, the original joke cryptocurrency has seen a ballooning in price this year, helped along by major celebrities, executives, and the like publicizing their backing of Doge. The cryptocurrency is built on the Ethereum network, a blockchain that has surged in popularity over the past several years for its wide array of use cases, which now include everything from the basis for “decentralized finance” protocols to non-fungible tokens. “A community-run token is nothing without the united individuals who give it purpose.” “We believe through the power of collective decentralization we can build something stronger than a centralized team ever could create,” Ryoshi wrote in the woofpaper, a name that is a clear play on the white papers that other crypto creators release when launching new assets. SHIB-whose branding is based around a picture of a Shiba Inu, just as Dogecoin’s is-was built to be “an experiment in decentralized spontaneous community building,” its still-anonymous founder Ryoshi wrote in the cryptocurrency’s original so-called “ woofpaper.” To do that, SHIB would come to rely on what has become known as the “ SHIBArmy,” an informal collective of developers, holders, and fans of the cryptocurrency that has seemingly continued to drive the price higher as it has grown. ![]() Just 14 months ago, SHIB was launched as a potential “Dogecoin killer.”
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