Rumors of "Listing on Robinhood" stimulate SHIB to soar, and Shiba Inu's real action points to independent chain building
Throughout the weekend, the attention of the encryption circle was attracted by Shiba Inu. The token SHIB of the Meme project whose logo is Shiba Inu’s expression rushed from around US$0.000027 to around US$0.000044 in 2 days, an increase of more than 62%, and also broke through a record high.
SHIB's surge is not unrelated to a rumor. On Sunday, an analysis website "broke the news" without citing any authoritative sources, saying that SHIB will be listed on Robinhood, a financial product trading market, on Monday. Ultimately, the fact that it didn't happen confirmed that it was a rumor.
What really knocked down the 10% increase in SHIB was the Twitter of Tesla founder Elon Musk. When he responded to questions from netizens, he said that he had never held SHIB. At least one truth is clear, the Shiba Inu pictures that Musk always posts on Twitter do not represent SHIB, he is simply posting his pets.
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Rumors of "Listing on Robinhood" stimulate SHIB to soar
Rumors of "SHIB listing on Robinhood" appear almost every once in a while. It was originally a hope of the coin holders who called themselves "ShibArmy" (Shib Army). Some people even dedicated this wish to the petition website "change. org, and more than 315,000 people signed it online.
Robinhood is an online platform that provides free stock and encrypted asset transactions for retail investors. It already supports 7 encrypted assets including BTC, ETH and DOGE. But last Sunday, rumors about the launch were widely circulated due to the addition of a time element, which briefly stimulated the rise of SHIB.
The latest rumor emerged from Coinmomo, a site that claims to provide “fundamental analysis of the crypto market,” declaring, without confirmation from any authoritative source, that SHIB will list Robinhood on “Monday.” Of course, when Monday came around and people didn't see SHIB on Robinhood's list of deals, the rumors died down.
The reason for this rumor may have originated from Robinhood’s recent user-oriented market questionnaire survey. A screenshot of the questionnaire was posted on Twitter by netizens. One of the contents of the survey was that the platform asked users whether they had purchased certain encrypted assets in the past three months. The list includes Cardano, XRP, Dash, Bitcoin, and more, including Shiba Inu.
Can the wish of the Shib Legion really come true on Robinhood in the near future? The platform never responded positively. Coincidentally, Robinhood CEO Vlad Tenev accepted an interview with CNBC last week. Throughout the interview, he did not answer the question of whether he would add SHIB to his encrypted asset-related products. Opportunities for crypto trading businesses".
On Monday, while that rumor was debunked, Tesla founder Elon Musk poured cold water on SHIB investors.
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Musk says he does not own SHIB
The responses knocked out 10 percent of SHIB’s gains, with its price briefly dipping below $0.00004. At least, this breaks a long-standing wishful thinking of investors-because Musk often shares pictures and avatars of Shiba Inu on Twitter, some encrypted asset investors interpret this as his SHIB platform, and even some copycat projects are all From his tweet word "minting", a token named FLOKI chose the name of Musk's pet dog.
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Shiba Inu's real action points to building a chain alone
When the rumors on the Internet were playing the game between true and false, the number of SHIB’s currency-holding addresses increased to more than 779,000. Taking advantage of the celebrity effect is indeed one of its ways to expand its voice, and Shiba Inu has been holding The dream of decentralization "starting from scratch" built by developers may be the motivation for many people to "roll out" for it.
In February 2021, SHIB became popular because of Shiba Inu's meme expression package. At that time, its popularity was more like using one joke to dissolve another joke DOGE. The circulation of 1000 trillion makes SHIB extremely cheap, and the unit price is lower than 7 zeros after the decimal point. You can get hundreds of millions of SHIB for just $1, so that grassroots can also become a "giant whale" of encrypted assets, which makes it Obtained the support of the first flow.
Later, SHIB took advantage of the hype when Musk called DOGE, and the zeros after the decimal point were constantly eliminated, and even became a "zero elimination game" among coin holders. The increase has once again brought followers to SHIB. The previous record of $0.000034 was set on May 11. Various centralized encrypted assets have launched this popular asset.
People only started to search at that time. It turns out that Shiba Inu, which SHIB relies on, was built on Ethereum as early as August 2020. With the goal of a "experiment from scratch", the founder Ryoshi had almost zero investment. Next, the Shiba Inu contract was created on Ethereum. 50% of the 1000 trillion SHIB was locked in the sales contract of the decentralized trading application Uniswap, and the other half was directly called to Vitalik, the founder of Ethereum donated part of SHIB).
Since there is no dedicated team, the "team" owns 0 SHIB. Ryoshi claims to be only a volunteer for the project, and he can only buy SHIB from the market; in order to maintain the decentralization and independence of the community, Shiba Inu does not accept any Invest, grow only with the intellectual talents of the community members.
Ryoshi previously introduced himself as an "independent trader" and "nobody" of encrypted assets, but has always been fascinated by the origin of the decentralized community, so he created Shiba Inu to see what "zero" will eventually grow into. Such a project with the purpose of "communityization" has also been highly praised by the grassroots.
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Various functions provided by Shibaswap
Up to now, Shiba Inu has formed products and usage directions such as Shibswap, Shibshis games, and Shiba public welfare. Among them, Shibswap has formed an economic system operating with three Tokens: SHIB (base currency), LEASH (incentive token), and BONE (governance token) , and provide functions such as mining, NFT, burning, trading, equity incentives, and pledges.
When rumors about SHIB's secondary market are flying, people may passively obscure the real movement of Shiba Inu. At least 6 days ago, Shytoshi Kusama, a volunteer recognized by the SHIB community, disclosed a new development on Medium. While thanking those token holders who spent ETH Gas fees to obtain SHIB, he revealed the blockchain platform Shibarium in the project plan. Progress, "I'm pleased to inform the community that development of Shibarium is progressing well. We are still a few months away from the first tests and audits of the system, but the groundwork has been laid."
To put it simply, SHIB is also building chains. In addition, Shytoshi Kusama said that other developers are developing Shiboshi games and updating ShibaSwap, "Our largest top-secret project is already underway." He did not disclose the content of this top-secret project, which has aroused the appetite of the outside world.
Perhaps, rumors are only the superficial factor of SHIB's surge. The Shiba Inu community does not want this "Shiba Inu" to stay on the road of Meme currency. This expectation is the internal factor that promotes SHIB's rise, but whether the plan can be implemented one by one will be the test Whether the community has the ability to execute.
