Dogecoin

Shiba Inu ($SHIB) Listed on Canada’s Version of Commission-free Trading App Robinhood

Canada’s answer to the popular commission-free trading platform Robinhood (NASDAQ: HOOD), Wealthsimple, has listed the meme-inspired cryptocurrency Shiba Inu ($SHIB). which will now be available to the platform’s 1.5 million users.

Wealthsimple first started letting its users buy, sell, and trade cryptocurrencies back in June 2020 with the launch of Wealthsimple Crypto. Initially, only bitcoin and ether were available to trade on the platform, but in June of this year it obtained approval from the Ontario Securities Commission (OSC) to list 14 new cryptocurrencies including Solana (SOL), Cardano (ADA), and Dogecoin (DOGE).

The addition of SHIB comes a month after Wealthsimple added crypto-based exchange-traded funds (ETFs) to its retirement plans. 

The firm only allows users to buy, sell, and trade crypto within its platform, just like Robinhood. The latter, however, hasn’t listed the meme-inspired cryptocurrency despite the SHIBArmy’s efforts to get the token listed on the platform.

As CryptoGlobe reported, over 519,000 Shiba Inu supporters have signed a petition titled “Kindly request of Robinhood to list Shiba Inu coin,” asking the commission-free trading platform to list SHIB. It mentions that Robinhood has listed Dogecoin (DOGE), a rival meme-inspired cryptocurrency, that was a “huge success” for the trading platform.

Robinhood listing Dogecoin was very positive for the firm as its revenue increased because of a DOGE trading frenzy seen this year. Shiba Inu has already been listed on various top cryptocurrency trading platforms including Binance and Coinbase.

Retail traders have been betting on Shiba Inu, so much so that the number of Ethereum wallets holding it has surpassed 900,000 roughly a week after hitting the 800,000 mark, meaning that while SHIB’s price has been waning, the number of wallets holding it has been growing steadily.

Over the last 3 months, the cryptocurrency’s price went up over 600%, despite enduring a significant sell-off over the last few days.

SHIBUSDT Chart via TradingView

Notably, the popular cryptocurrency exchange Kraken upset the SHIBArmy earlier this month for failing to list the cryptocurrency after claiming they would do so if a tweet promoting it got over 2,000 likes, that tweet got over 80,000 likes.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Featured image via Pixabay



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