Benzinga Asks: Would You Buy Shiba Inu If Robinhood Adds The Cryptocurrency?

Benzinga occasionally asks its social media followers questions via polls to gauge interest in certain trending topics. There may be no bigger recent trend than the rise of interest and valuation for Shiba Inu SHIB/USD.

What Happened: Shiba Inu has taken the cryptocurrency market by storm, becoming one of the top 10 coins in terms of market capitalization.

On Thursday, Shiba Inu passed retail trader's favorite cryptocurrency Dogecoin DOGE/USD.

Shiba Inu can be bought on several trading platforms including Coinbase Global Inc COIN. One platform that has not added the coin to its platform is Robinhood Markets Inc HOOD.

Fans and investors have filed petitions and pushed Robinhood to carry the coin, which would likely bring a new wave of investors to the popular coin.

Robinhood reported third-quarter cryptocurrency revenue of $51 million. The total was up year-over-year but down significantly from the $233 million reported in the second quarter.

Meanwhile, Coinbase finds itself soaring up the app download chart, which could be a direct result of people trying to buy Shiba Inu.

Robinhood said it would not add any coins in the short term due to regulatory concerns and scrutiny.

Related Link: Shiba Inu Coin Trends On Twitter, Google: Will SHIB Reach 1 Cent? 

Twitter Poll: Benzinga asked its Twitter followers if they would buy Shiba Inu if Robinhood added it to the platform.

A total of 4,484 people voted in the poll. The results were 82% answering "Uhh Yeah Duh!" and 18% voting "Ummm No."

Based on Benzinga’s followers, Robinhood may want to consider adding the popular coin to the platform as it appears there are people ready to invest.

On Friday afternoon at publication, Shiba was the ninth most valuable coin by market cap at $41 billion, according to Coinmarketcap, and was trading at $0.00007437, up 12.76%. Dogecoin has a market cap of $38.4 billion, ranking 10th, and was trading down 4.87%. at $0.2909.

Photo: Shiba Inu; Robinhood photo by Andrew Neel on Unsplash