Pressure Grows On Robinhood To List SHIB After Top Exchanges Add Shiba Inu Support

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Image of Shiba Inu logo against a blurred green background of a forest of trees.

The Shiba Inu community has once again rallied around its campaign to get SHIB listed on Robinhood, after Kraken completed its SHIB listing on November 30.

The likes of Binance, Coinbase, FTX, Crypto.com, Huobi and KuCoin - some of the most popular exchanges - also support SHIB.

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A petition for Robinhood to list SHIB currently has 541,000 signatures, adding 2,629 new supporters in the last week.

Robinhood SHIB Listing

In the immediate aftermath of Kraken’s SHIB listing, the ShibArmy took to Twitter to ask Robinhood about Shiba Inu.

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Shiba’s volunteer project lead, Shytoshi Kusama, retweeted a post asking if Robinhood will list SHIB by the end of 2021.

Other holders noted Robinhood’s share price is down 70%, after its cryptocurrency revenue dropped 79% in the last quarter.

Going to Robinhood directly, the ShibArmy also took over Robinhood’s Twitter replies. Its latest tweet about different types of transaction fees has 473 replies, many dedicated to SHIB. However,these might not be helping Shiba Inu's case.

Much of the demand for further listing comes from the view that further adoption will increase SHIB’s price. The drive for Robinhood support was further backed by Shiba Inu’s 36% increase in the aftermath of Kraken’s announcement. Through a listing on Robinhood, SHIB would gain access to its 18 million users.

After reaching a high of $0.00005342 on November 30, SHIB dropped again to $0.00004580 at the time of writing.

Despite the demands of the ShibArmy, the exchange remains resilient in its own listing processes. Robinhood still only supports seven cryptocurrencies, with the most recent addition being in 2018. During an interview in early November, Robinhood’s Chief Operating Officer said:

Our strategy is a little bit different [from] a lot of the other players out there who are just racing to list as many assets as possible right now. We think that the short-term gain we might get is not worth the long-term trade-off for our users.

However, as Robinhood is now one of the few major exchanges not to list SHIB, the amplified demand for its listing will likely only increase.

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Read More: NOWPayments Burns 43 Million SHIB In Support Of Shiba Inu Community

[Image: Dan Otis/Unsplash]