Fans of the Shiba Inu can rejoice as the cryptocurrency has seen some favourable spike following its launch on Bitso, Mexico’s largest cryptocurrency exchange.
Shiba Inu (SHIB) soared 16 percent on Thursday, leading major cryptocurrencies higher on reports of a listing on Robinhood, according to Coindesk.
It remains to be seen whether the meme-based crypto coin can retain its momentum or if it will repeat the tale of its Kraken listing.
When Shibu Inu was listed in Kraken last November, its value skyrocketed. The value of the meme-based coin increased from $0.000040 to $0.000054. However, it was unable to sustain the rally and plunged below $0.000030 as a result of severe selling pressure.
As a result, the investors are engaged in a dicey situation, waiting for the impacts of the new listing to permeate and settle the crypto coin’s values. In other words, it must be determined whether the listing provides any long-term material support to Shiba Inu. Depending on the fate of the world’s two most prominent cryptocurrencies, Bitcoin and Ethereum, general market mood will most likely influence Shiba Inu dynamics.
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