Shiba Inu (SHIB) signs a big partnership with Robinhood: details

TL; DR

Robinhood promotes crypto services in Nevada for major digital assets including Bitcoin, Ether, Dogecoin and Shiba Inu. Dogecoin and Shiba Inu prices rebounded slightly post-announcement, although Robinhood's SHIB holdings are around $250 million. The future of SHIB may influence the mass adoption and growth of Shibarium, which is aimed at making transactions faster and cheaper.

US-based financial services company – Robinhood – has announced that it has expanded its cryptocurrency services to the state of Nevada.

Robinhood Crypto is now available in Nevada!

Buy, sell and transfer 15 crypto currencies! See the details 🔗

Additional information:

— Robinhood Help (@AskRobinhood) October 25, 2023

The entity allows buying, selling and real-time market data for 15 digital assets, including the largest by market capitalization – Bitcoin (BTC) and Ether (ETH). Interestingly, popular memecoins Dogecoin and Shiba Inu are part of the list.

Despite the announcement, DOGE and SHIB showed little-to-no response. In fact, both tokens have pulled back slightly in the past 24 hours after posting massive gains on October 24.

Robin Hood Hugs Shiba Inu raised the price of the property by 35% in April last year. The company is also listed as one of the largest owners of what it calls Dogecoin-killer.

According to the most recent data, Robinhood has approximately 35 trillion tokens, worth more than $250 million (calculated at current rates).

SHIB's future assessment is an interesting subject, with many analysts diving into it. Some argue that a potential jump could occur once shibarium mass adoption and further development occurs.

The latter's layer-2 blockchain solution aims to elevate Shiba Inu above its rivals by reducing transaction costs and improving speed. More information on it and its differences can be found in the video below: