In recognizing Shiba Inu Coin, Robinhood Europe has added the meme coin to the list of transferable tokens on the app.
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Robinhood Crypto EU expands support to include the meme coin Shiba Inu coin in cryptocurrency trading.
The commission-free cryptocurrency trading app has announced a 1% bonus for deposits in the coming weeks.
SHIB price could rise like Dogecoin and Pepe Coin after Robinhood's listing.
Robinhood, the popular commission-free brokerage firm, has added transfer support for Shiba Inu Coin as revealed earlier today. Notably, the trading platform stated that the new allowance is only available to their users in the European Union. The trading app also announced a 1% bonus for users who deposit their tokens from other cryptocurrency exchanges. Traders reacted immediately as the price of SHIB experienced significant volatility.
Robinhood Crypto now supports the transfer of Shiba Inu Coin
Robinhood Europe's cryptocurrency branch revealed in an official announcement on November 9 that they have added Shiba Inu coin to the supported cryptocurrencies for trading.
The commission-free cryptocurrency trading app has announced a limited-time 1% bonus opportunity. Users need to withdraw their SHIB tokens from other cryptocurrency exchanges and deposit them into the Robinhood app to receive the 1% bonus.
The cryptocurrency transfer service now allows customers to send and withdraw 30 types of cryptocurrencies, including Bitcoin, Ethereum, Solana, and Cardano, according to Robinhood's website. It provides users with control, security, and crime insurance, along with educational program benefits. However, some major cryptocurrencies like XRP and Toncoin (TON) are still unavailable for cryptocurrency trading, despite recent listings by Robinhood Europe.
Will SHIB price rise like DOGE and Pepe Coin?
Recently, Robinhood added Pepe Coin (PEPE) and Dogecoin (DOGE) to the list of digital currencies that users can transfer. The price of Pepe Coin rose 40% after the cryptocurrency trading app announced the listing. Notably, the price of Dogecoin increased by 45% following last week's announcement.
This has sparked speculation about whether Shiba Inu coin will see at least a 40% price increase in the coming days. The price of SHIB only rose 14% amid the new optimistic atmosphere in the market during the 'Trump trading' period.
The price of SHIB has risen nearly 1% in the past 24 hours, with the current trading price at $0.00001923. The low and high in the past 24 hours were $0.00001847 and $0.00001966, respectively. Furthermore, the trading volume increased by 23% in the past 24 hours, indicating a rise in trader interest.
In the derivatives market, the total SHIB futures contracts rose 2% in one hour and 6% in the past 24 hours to 3.34 million worth $164 million. Binance has seen an 8% increase in open SHIB contracts. A significant sentiment in meme coins could indeed stimulate the price of SHIB to rise to $1.