- SHIB climbed by nearly 20%, amid the dip in global market cap.
- Analysis shows the core reason for the surge is due to coin listing on the Robinhood (NASDAQ:HOOD) exchange.
- Now, the global crypto market has surged slightly, making BTC and other coins hike.
Shiba Inu is not just a meme coin anymore; it has proven to be worthy of recognition. Despite the global market value of cryptocurrency dropping in the past week, SHIB has turned to show its bullish April trend, as predicted by many crypto analysts.
According to Coinmarketcap, Shiba Inu leads in the 15th position with a surge of nearly 20.4 % in the past 24 hours and registering a 2.7% hike in the past week.
SHIB/USDT 1-week chart (source: TradingView)
Remarkably, Robinhood Financial LLC recently announced the listing of SHIB on its exchange, which is reported to be the reason for the cryptos price to skyrocket.
Furthermore, the latest project of the coin — SHIB the Metaverse — has now started a live ‘land bid event’, where Leash holders can now access, bid, and purchase lands and own property in the Shiba Inu Metaverse. This could be one of the reasons for a lucrative gain for the SHIB coin.
We dropped new cryptoAnd we’re giving away $100K of it. Quote tweet this tweet with your Robinhood Username (@ included!) to get some #RobinhoodCrypto
The first 10K quote tweets will receive $10 of SHIB. pic.twitter.com/0jsBKYfJvw
— Robinhood (@RobinhoodApp) April 12, 2022
Moreso, Shiba Inu’s AAA Game Studio on board might also be another point for the value hike. SHIB also had its all-time-high (ATH) price of $0.88 at the end of October, where it signaled over 75% of its value in the crypto market.
Since January 2022, the crypto market has been following trend-line support, which was lightly paused due to its recent plunge in value. However, today, the global crypto market has bounced to 1.47%, registering $1.87 trillion in value. In contrast to the past day, this climb has made Bitcoin and other altcoins like ETH, BNB, XRP, SOL, ADA, etc. wave a green flag.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.