Key Takeaways
- Regulated multi-asset exchange, Uphold lists Shiba Inu (SHIB).
- There are also rumors that Robinhood may list SHIB in February.
- While SHIB’s price has remained volatile, investors are optimistic for 2022.
Shiba Inu (SHIB) has been listed on the multi-asset trading platform, Uphold. The exchange announced that SHIB is now available in some regions. SHIB has been gaining significant adoption, but the Shiba Inu community is still anticipating a listing on retail trading platform Robinhood.
Regulated crypto exchange lists SHIB
Uphold, a regulated multi-asset exchange, has added Shiba Inu (SHIB) to its platform. The exchange announced the listing via a tweet. However, trading SHIB is not yet available in all regions that Uphold currently operates in. The SHIB listing will bring the meme coin closer to the over 1.7 million global Uphold users.
Well done to those who guessed it on our post yesterday!
#Shiba Inu is now available on Uphold!
Get your paws (
) on some here
https://t.co/KnjuU18Nj0 $SHIB isn’t available in all regions, please check your app for more information. pic.twitter.com/mvhE0UHkDa
— Uphold (@UpholdInc) January 21, 2022
Uphold allows for trading of around 50 cryptocurrencies including Bitcoin and XRP, as well as national currencies, equities, and precious metals like gold. The platform is also commended for its low trading fees. Uphold notes that the high demand and traction SHIB has gotten contributed to their decision to list the meme coin.
“Categorizing SHIB as a meme coin glosses over the traction it has gained as a payment coin. Unquestionably, though, the hype has helped SHIB at every twist and turn during its stunning rise,” they note on their website.
Uphold is only the latest crypto exchange to recognize the massive traction SHIB has been gaining. Other leading crypto exchanges that have added SHIB to their platforms include Gemini, Bitstamp, and Kraken.
However, one platform that has been largely undecided on listing Shiba Inu has been Robinhood. The SHIB community has been clamoring for Robinhood to list SHIB since last year.
The SHIBArmy even has an online petition that has gained over 555,000 signatures for Robinhood to add SHIB.
Recently, rumors emerged that the listing may happen in February or within the first quarter of this year according to business news handle ZeroHedge.
Jason Warnick, Robinhood’s Chief Financial Officer revealed during the Wall Street Journal’s virtual CFO Network Summit that the company wants more clarity from regulators before adding new tokens like SHIB.
“We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators,”.
As SHIB just went live on Uphold which is a regulated trading platform, proponents are of the notion that the meme coin will debut on Robinhood in the first quarter of this year.
Robinhood has not confirmed this but there are speculations that they may have changed their stance since the last time they stated that they were satisfied with the offering they provided.
How is SHIB set to perform in 2022?
Shiba Inu has achieved a significant network effect since it rose to popularity last year. Asides from more exchanges listing it, several outlets have begun accepting it as payment. These include the largest theater chain, AMC, and Newegg. GameStop also recently revealed that it would begin accepting SHIB soon.
Shiba Inu developers have also been building more prospects for SHIB as more extensions like gaming is being introduced to the SHIB ecosystem that will supercharge NFTs in the ecosystem.
All these coupled with a token burning mechanism that is poised to reduce the circulating supply of SHIB are set to give the price of SHIB a significant boost this year according to analysts. However, there are market pundits that are not so optimistic about the meme coin. According to The Motley Fool, SHIB is probably going to “face-plant” this year. SHIB is currently trading at around $0.000020, down -20.94% in the last 24 hours.
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