Robinhood Says Let’s Talk About Shiba Inu

The European-based crypto arm of online brokerage platform Robinhood dedicates an X thread to discuss Shiba Inu. 

The post, titled “Let’s Talk SHIB—One of Crypto’s More [Most] Popular Stories,” detailed a brief summary of Shiba Inu’s launch and its community-driven success. 

Robinhood Highlights Shiba Inu’s History 

Robinhood Crypto Europe stated that a pseudonymous developer, Ryoshi, created Shiba Inu on July 31, 2020. According to Robinhood, Shiba Inu launched on this date with an initial supply of 1,000,000,000,000,000 (1 quadrillion) tokens.

Notably, Robinhood mentioned how Ryoshi gifted half of Shiba Inu’s supply (500 trillion SHIB) to Ethereum’s co-founder, Vitalik Buterin. 

Per Robinhood, Shiba Inu’s creators designed the token to be run by its community, demonstrating its commitment to decentralization. 

Furthermore, the platform acknowledged that since Shiba Inu’s launch, its community leaders have rolled out notable projects, including the Shibarium Layer-2 scaling blockchain, the ShibaSwap decentralized exchange, and a metaverse project. 

The leading trading platform confirmed that Shiba Inu’s ecosystem team plans to launch an NFT marketplace. Interestingly, Robinhood emphasized how these groundbreaking initiatives reflect strong community leadership within Shiba Inu’s project. 

Shiba Inu’s Outstanding Success 

Shiba Inu’s remarkable success will stand the test of time in the crypto market. The token, which debuted as a memecoin in 2020, took many by surprise with its success, including Buterin. 

The Ethereum co-founder, who burned 410 trillion of his SHIB holdings and sent the remaining to charities, revealed that he made the move because he expected the token to crash by 100x. 

However, Shiba Inu outperformed his expectations a few months later, as the token surged to an ATH of $0.00008845. This marked a remarkable growth of over 157 million percent from Shiba Inu’s $0.000000000056 initial trading price. 

Robinhood’s SHIB Support  

Meanwhile, despite Robinhood’s strict listing procedure, Shiba Inu remains one of the crypto assets listed on the trading platform. The token first debuted on the U.S. arm of the exchange in April 2022 before it was expanded to other markets. 

As previously reported, Robinhood extended its crypto trading operations to Europe in November 2023, adding SHIB to its list of supported assets. According to Etherscan data, Robinhood is currently one of the largest holders of SHIB, with a holding exceeding 47 trillion SHIB.