The Shiba Inu community has received praise from the COO of Robinhood, Christine Brown, for the way the platform has grown. She said that the priority was safety over short-term plans of adding new tokens which have helped push them forward. In an interview that aired onYouTube on Tuesday, Brown shared her thoughts about Shiba Inu, she said “I enjoy watching the community around these coins thrive and want to talk with us about certain issues and also letting us know their heart desires.”
Despite that, Brown wouldn’t comment on whether Shiba Inu would be listed as a crypto trading app or on the American Stock exchange. Currently, Shib has a market cap of $30 billion, making it the 11th largest cryptocurrency. The SHIB community has intensified its strategy to make Robinhood list SHIB, and a petition now has now gathered over half a million signatures.
Brown said Robinhood places a high priority on safety and carefully evaluates the regulatory practices. Unlike many other players, we do not plan on listing many assets at this time,” she said.
“In our opinion, the short-term profit for us is not equal to the long-term sacrifice for the users.” Robinhood’s wallet waitlist has now grown more than 1.6 million users, according to Brown. With the launch of the wallet, users will be able to send and receive cryptocurrencies. Users want control over their cryptocurrencies.
This statement by Brown not only brings a light to the tunnel of investors who have lost their money during the fall of SHIBA, it also encourages new investors who would like to join in the Shiba Inu investment and promises new prospects for the growth of the coin in the nearest future.
The price of SHIB has been down since Nov. 3 when a wallet that contains $5.7 billion of token resurfaced. It is currently trading between $0.00004550 and $0.00005430 on bitcoinloophole. The website not only provides you with authentice updates about the prices of coins, it also provides you a safe and secure platform to invest your money in cryptocurrency
Recent Fall of Shiba Inu
Shiba Inu’s (SHIB) price dropped 11% after transactions from the whale wallet, which turned a $3,400 purchase into $1.55 billion last August. There were four transactions with each totalling exactly 10,000,000,100,000 SHIB made by the whale. The four transactions totalled approximately $2.3 billion, with each worth around $586 million.
The lack of activity in the wallet since last year led many social media users to speculate that the owner may have forgotten or lost their key. Nonetheless, the whale waking up has prompted some fear in the community that the holder is about to sell his tokens. Considering that the whale owns so much of the supply, any liquidation could potentially cause the price to plummet.
Prices have fallen 31.2% from their all-time high in October and 10.8% in the last one month as aresult of the movements. Almost 72% of Shiba Inu coins are owned by the top 10 wallets according to CoinMarketCap. Currently, the whale’s original wallet contains over $1.8 million worth of SHIB.
Following the fall of Shiba Inu, Co-founder of 1inch Network says in the next three to five years, many of these coins will grow massively. According to Anton Bukov, these technologies are growing rapidly but Peer-to-peer technology advantages can and will be experienced more widely.
Bottom Line
Shiba Inu will aim to unite liquidity providers and traders helping both sides facilitate transactions quickly without delay. They will also seek to help wallet holders maintain their services so the value of their coins wouldn’t drop drastically.
