Shiba Inu Coin (SHIB) is the cryptocurrency of the moment and, I have to admit it, it's giving me FOMO. I'm not the only one, with good reason. As of early October 29, SHIB has seen an increase in value of 98,734,680% from its starting price. No, there are no typos: that's how much it has increased.
The cryptocurrency has existed since August 2020. From the start, a group of loyal followers called it the "Dogecoin Killer," but it didn't take off at first. It barely registered spikes in value in 2020, but in the past months, it's skyrocketed. So, why now? It all has to do with access.
Earlier this month, rumors circulated that Robinhood was going to start listing the Shiba Inu Coin. As soon as word got out, the SHIB army, a group of dedicated followers, couldn't contain their excitement. Having the presence of Shiba Inu Coin in Robinhood would help propel it to new levels.
There was one problem: the rumors weren't true. There was no evidence of Robinhood listing SHIB. After all, much like its canine rival Dogecoin, SHIB is a meme coin with little value (for now). Plus, Robinhood's CEO, Vladimir Tenev, has said he's waiting for regulations on cryptocurrency to clear up before adding new ones. As for SHIB, Tenev has avoided the topic altogether.
Tenev's silence only fueled the SHIB army's quest. One SHIB loyalist created a change.org request that caught fire. By the time I wrote this newsletter, there were 411,000 signatures: super close to the goal of 500,000. People are desperate to get their hands on some SHIB. Even I'm thinking about it, especially if it continues its bullish behavior.
Now, let's be clear, there are platforms trading the Shiba Inu Coin. Coinbase caught the bug and began listing it on its main trading platform on September 16. This move alone helped the crypto's value increase by 25%.
As for Robinhood, the platform missed out on this part of the rise of Shiba Inu Coin, but it might not miss out on another one. After all, it eventually started listing Dogecoin once it was no longer a joke, so I don't see how they wouldn't include it.
My question is: how can we get our hands on these cryptos before they become disruptors? Being a part of the trading craze is one thing. Catching it before it starts is something completely different.