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Crypto: Shiba Inu jumps over 20%, as Robinhood lists the meme token

Crypto coin Shiba Inu jumped more than 20% on Tuesday, after brokerage app Robinhood said it has listed the popular meme token, along with three others, months after its supporters called for the move. 

The dog-themed token
SHIBUSD,
23.18

is trading at around $0.000028, up 21% over the past 24 hours, according to CoinDesk data. 

Robinhood also listed three other cryptocurrencies, including tokens of decentralized lending platform Compound, blockchains Polygon
MATICUSD,
+7.80%

and Solana
SOLUSD,
+5.35%
,
according to a blog post on Tuesday. 

It adds to Robinhood’s existing listing of seven cryptocurrencies, including bitcoin
BTCUSD,
+1.11%
,
bitcoin cash
BCHUSD,
+3.26%
,
bitcoin SV
BTCSVC,
+1.04%
,
dogecoin
DOGEUSD,
+3.15%
,
ether
ETHUSD,
+1.66%
,
ethereum classic
ETCUSD,
+1.75%
,
and litecoin
LTCUSD,
+0.85%
.

Shiba Inu’s fans have long been pushing for the token’s listing at Robinhood. A petition from Change.org to get SHIB on Robinhood received nearly 560,000 signatures. The token surged more than 40,000,000% in 2021, while it has lost 32.7% year-to-date. 

Read: Why haven’t we seen the rise of next Dogecoin or Shiba Inu? Here are three main reasons

“As a safety-first company, 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,”  Steve Quirk, chief brokerage officer at Robinhood wrote in the blog post. 

Earlier this month, Robinhood rolled out crypto wallet to more than 2 million people and enabled transactions on the Lighting network, a payment protocol layered on top of Bitcoin that aims to enable fast transactions.

Bitcoin traded 1.6% lower from 24 hours ago at around $40,465, while ether gained 0.5% to around $3,060.

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