Cryptocurrency Shiba Inu (SHIB) drowned in price after being listed on famous stock and crypto trading app Robinhood. It comes as good news to SHIB fans who have been targeting a listing on the Robinhood app. 

The online crypto broker company also declared that customers can now buy and sell four additional cryptocurrencies through its app and website- namely Cooumpound (COMP), Polygon (MATIC), Solana (SOL), and Shiba Inu (SHIB). 

As per one report, SHIB prices dropped around 7 percent in the past hour. On the other hand, COMP jumped 6.6 percent, MATIC spiked by 3.5 percent, and SOL witnessed a 2 percent growth. 

In addition, Shiba Inu was also launched as an alternative to Dogecoin (DOGE) in August 2020 by a secret inventor or group under the name Ryoshi. According to its founders, the DOGE coin was an experiment in decentralized spontaneous community building. 

Although the crypto tokens are available to buy and sell now on the Robinhood app, crypto traders need to wait further to be able to deposit and withdraw funds.

Moreover, Robinhood rolled out its digital wallet feature last week to 2 million of its customers. 

In a Bitcoin conference organized in Miami, Florida, Robinhood Chief Product Officer Aparna Chennapragada communicated – that customers who applied for the WenWallets waitlist will be able to send and receive any of the cryptocurrencies other than SHIB. 

The founder and CEO of Robinhood, Vlad Tenev, said that the organization’s goal is to make Robinhood the most trustworthy and easy-to-use crypto platform. Furthermore, he showed his excitement while sharing that Robinhood has successfully listed over 20 cryptocurrencies on its platform.