At today’s Crypto Goes Mainstream live event, Robinhood’s COO Christine Brown discussed Shiba Inu when asked by the host “When SHIB?”
Her response was,
“One of my favorite things is seeing the community around these coins really engage with us and really let us know what they want.”
Further clarifying that when it comes to Robinhood’s strategy about what they are going to list she said, “we’re not going to talk about it.”
Mrs. Brown went on to explain that Robinhood’s strategy is different than its competitors, who are trying to list the latest coin as fast as possible.
Lastly, she mentioned that “the short term gain that [Robinhood] might gain, is not worth the long term trade off for our users.”
You can check out the presentation yourself in the YouTube video below, the Shiba Inu part starts at 12:15.
At the time of writing Shiba Inu is trading at $0.000049. Its been struggling with the support level at $0.00005 throughout the day, peaking at $0.000051 with a low of $0.000046.
In our last night’s Shiba Inu price analysis, we predicted that the market will continue to trade sideways absent any corrections to BTC/ETH.
As we discussed last night, since SHIB is a more speculative coin, it will amplify Bitcoin / Ethereum’s movements, think of it almost like leverage trading. Unfortunately because BTC’s price went down 4-5%, SHIB’s price went down 9-10%. The good news is, the same is true when BTC / ETH’s price rises.
Overall the cryptocurrency market is doing quite well. In fact, the total crypto market cap is currently at $2.7 trillion. At the rate things are going, it wouldn’t be unreasonable to predict a $3 trillion crypto market cap by EOY.
You can’t always have good days in crypto, but you can always keep hodling!
This is not trading or investment advice, always do your own research before purchasing any cryptocurrency.
Follow us on twitter @themerklehash to stay up to date with the latest cryptocurrency news!
Originally published on The VR Soldier
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