When Did Doge Get Listed On Robinhood

It finally happened. After a lengthy await,
Robinhood
(HOOD)
announced last calendar week the addition of
Shiba Inu
(SHIB
-1.12%)
to its popular trading platform. Three other pop cryptocurrencies —
Solana,
Chemical compound, and
Polygon
— can also now exist bought and sold on Robinhood.

Unsurprisingly, Shiba Inu soared on the news. Its price rose every bit much every bit 34% at i point before giving upwardly some of the gains. Could the Robinhood list fifty-fifty launch Shiba Inu to $0.001?

Instance studies

One potential way to determine how high Shiba Inu could go is to examine how other cryptocurrencies accept fared later on being listed on Robinhood. For example, the trading platform rolled out back up for
Bitcoin
(BTC
-0.68%)
and
Ethereum
(ETH
-0.27%)
on Jan. 25, 2018, in select markets.

Shiba Inu fans won’t find much to like with these historical precedents, though. After a relatively small bounce, both Bitcoin and Ethereum proceeded to sink over the next couple of months following their listings on Robinhood.

Bitcoin Price information by YCharts

However, in that location’southward a much better instance study to use. Robinhood began supporting
Dogecoin
(DOGE
-0.89%)
on July 16, 2018. Shiba Inu has a lot more in common with Dogecoin than it does with Bitcoin or Ethereum. Within a thing of days of its Robinhood list, Dogecoin jumped nearly 40%.

Dogecoin Cost information past YCharts

Dogecoin went on to nearly double over the next couple of months. The bad news, though, is that this proceeds proved to be relatively short-lived. By the cease of the year, Dogecoin was in negative territory.

Also, it’due south hard to argue that Dogecoin’s large gain in late August and early September of 2018 was due to the altcoin being listed on Robinhood. Dogecoin’s toll actually fell xxx% below its level before the Robinhood listing earlier information technology surged.

Similar storylines

The storylines for Dogecoin and Shiba Inu leading up to their respective listings on Robinhood are quite similar. Dogecoin had skyrocketed 3,700% in the year before its inclusion on the trading platform.

Merely the digital token hit a rough patch in 2018. By the fourth dimension Robinhood listed Dogecoin, the cryptocurrency’due south price had plunged 80% from its loftier.

Also, Shiba Inu delivered a spectacular functioning in 2021. The meme coin vaulted more than 74,000,000% higher at one signal the year before its Robinhood list. Even so, Shiba Inu’s price was downward around 75% from that peak when Robinhood appear support for the token terminal week.

This doesn’t necessarily mean, though, that Shiba Inu is destined to repeat the trajectory of Dogecoin. There certainly are different dynamics at play in the cryptocurrency market place now than there were iii years ago.

It’south a long way to 3 zeros

Still, it’south a long fashion to iii zeros for Shiba Inu from its current price. The token would need to soar roughly 3,900% to get to $0.0001.

Perhaps the listing on Robinhood will unleash tremendous need for Shiba Inu that pushes its price much higher. Nevertheless, this scenario requires a stretch of the imagination. Later on all, Robinhood listings for other cryptocurrencies haven’t proven to be longer-term catalysts.

Remember too that investors who utilise Robinhood have had other avenues to purchase Shiba Inu for a while now. Sure, the ability to trade the token on the aforementioned platform that they use for stocks and other cryptocurrencies adds a level of convenience. Merely it’s hard to envision that the Robinhood listing will enable Shiba Inu to reach $0.0001 past itself.

The last two words in the previous sentence are important, though. There are other catalysts on the style that combined could allow Shiba Inu to generate monster returns this yr. But just as Shiba Inu investors had to look for the Robinhood listing, they’ll besides take to await on these other developments.