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Tuesday, September 27, 2022

The Price Of Shiba Inu Increased By 35% In Just One Day

The price of Shiba Inu (SHIB) increased on 12th April after its debut on a platform that is free of commission and based on the U.S. commonly known as Robinhood. The price was hiked by 35% which amounted to 0.00003 and this is the highest recorded price of Shiba Inu in the last two months. Moreover, it was on the right track to log its performance which was recorded as one of the best since 6th February when the price rallied by approximately 27%.

Robinhood Has Listed Shiba Inu For The Purpose Of Trading

Robinhood has become the go-to avenue for daily investors after the onset of the coronavirus pandemic in 2020. The previous year was marked by the addition of 10 million accounts of funds by the retail brokerage to the platform of Shina Inu. Regarding the funded accounts, the majority of the sign-ups came from investors who were first-timers. 

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However, it recorded a total loss of $423 million in the earnings of its fourth quarter in 2021 and it must be recorded that its main revenue source incurred $263 million in comparison with $267 million in the previous year’s same quarter. In the meantime, the crypto trading revenue has increased to 300% in the same time span and it helped Robinhood to launch more services of crypto in 2022 which will consist of new altcoins, wallets, and meme tokens to the platform of brokerage. 

In the views of David Gokhstein, the founder of Gokhshtein Media, the connection between Shiba Inu with Robinhood will give positive results and is good for the space of crypto. This will help the users to opt for other coins like Ether, bitcoin, and many more. 

The huge rally of Shiba Inu means a good accumulation period is going to come. As per the analytics, the address having SHIB for a long time has made a profit balance from the last month.

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