Shiba inu coin price hits a new record as Robinhood petition gains popularity
The token, which was launched last year, has surged roughly 100% in the last seven days, and now has a a market value of about $26 billion.
The coin has also won a handful of celebrity backers, from former boy band stars to pro athletes.
Earlier this year, Ethereum co-founder Vitalik Buterin made headlines by donating $1 billion worth of shiba inu coin to a Covid-19 relief fund in India.
A Robinhood spokesperson declined to comment on the petition.
But during an earnings call this week, CEO Vladimir Tenev said that his platform will “carefully evaluate whether we can add new coins in a way that’s safe for customers and in line with regulatory requirements.”
“We feel very, very good about the coins that we’re currently listing on our platform. And for any new coins that we add, we want to feel equally, if not more good,” he added.
Other popular virtual currencies have also seen explosive growth. Bitcoin, the world’s most valuable cryptocurrency, hit an all-time high of nearly $67,000 per coin last week, topping the previous record set in April.
Bitcoin prices have surged 50% this month, from just under $44,000 at the end of September. Bitcoin is currently trading at almost $60,000.