How Shiba Inu Soared 20% On Robinhood Listing, Watch Out For Volatility

Popular brokerage firm Robinhood listed Shiba Inu (SHIB) for its users. After months of rumors about this listing, the platform made it official via its official Twitter handle. Related Reading | Robinhood To Roll Out Crypto Wallets To 1,000 Users In Phase One In addition, the platform announced a $100,000 crypto giveaway to incentive Shiba Inu (SHIB) adoption. Users have a chance at winning a portion of the price by interacting with Robinhood via Twitter. We dropped new crypto 👀 And 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 The announcement had a positive impact on the price of SHIB and the prices for Solana (SOL), Polygon (MATIC), and Compound (COMP). Immediately after, the cryptocurrency began an upward trend from its yearly lows. Data from CoinGecko indicates that SHIB rose from $0.00002000 to $0.00002680, at the time of writing. This represents more than a 20% increase in the last 24-hours compared to a 1% profit in the past week. As expected, with the price bump, the cryptocurrency experienced an increase in volatility and its trading volume. This could provide dangerous conditions for market participants. Research firm Santiment records a 30% pump for Shiba Inu (SHIB) making it the best performer o...