Gemini, a New York-based cryptocurrency exchange founded by billionaires Cameron and Tyler Winklevoss, joins the growing list of trading platforms to add support for Shiba Inu (SHIB) — a cryptocurrency that gets its name from the canine mascot of Dogecoin (DOGE).
SHIB Now Listed On Gemini
The story of Shiba Inu (SHIB), the crypto market’s best-performer of the year, is still mind-blowing — even after several reiterations. Roughly 12 months ago, the price of one SHIB coin had a staggering 10 zeros in front: $0.000000000064.
By late last month, six of these zeros had disappeared and the meme crypto had usurped its rival Dogecoin to become the world’s largest dog-inspired token. After muscling into the top ten of the biggest cryptocurrencies on the market leaderboard, SHIB boasted a market capitalization of around $46 billion. The dog coin has minted a handful of millionaires, and even a billionaire in its short lifespan.
SHIB’s bizarre run of good fortune has grabbed the attention of the market and major companies who want a piece of revenue that comes from capturing trading fees and luring in new users.
Binance and Coinbase previously listed SHIB, and the token recently earned a listing on the retail-focused app of India’s leading exchange CoinDCX. Now, Gemini has also taken the leap. The Gemini listing will facilitate more trading activity and is the latest in a string of momentum-inspiring boosts for SHIB.
Besides Shiba Inu, Gemini has also listed an array of decentralized finance (DeFi), data management, and metaverse tokens, including Mask Network (MASK), Quant (QNT), Radicle (RAD), and SuperRare (RARE).
It’s worth mentioning that Gemini, which is popular for its focus on regulatory compliance in the United States, listed Dogecoin back in May during the coin’s Elon Musk-driven frenzy.
Robinhood And Kraken Hold Off On Shiba Inu Listing
The SHIBArmy is hopeful that online brokerage platform Robinhood will be next to add support for SHIB on the heels of Gemini’s announcement. However, the platform is not yet ready to onboard the Dogecoin copycat.
Despite Robinhood chief operating officer Christine Brown recently praising the Shiba Inu community and a petition to convince the platform to list SHIB garnering over 531,000 signatures, the American stock, and cryptocurrency trading app is not in a rush to hop on the Shiba Inu bandwagon.
Shiba Inu loyal fans were dealt another blow when the Kraken exchange suggested it would soon be listing SHIB but later reneged on its promise, citing its incomplete review process.
Notably, rumors of Musk’s EV maker Tesla adding SHIB as a payment option have also been swirling around, but an official announcement is yet to emerge.