Shiba Inu coins can be purchased on Robinhood now

The shibheads’ wait is over: Robinhood is now allowing consumers to purchase and sell Shiba Inu coin, a popular cryptocurrency whose fans have been pleading with the online brokerage to list it.

On Tuesday, Robinhood announced the launch of four new cryptocurrencies to its trading app: compound, polygon, and solana.

Robinhood’s chief brokerage officer, Steve Quirk, said in a statement that the business was “excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto.”

Robinhood, according to Quirk, evaluates new assets for listing using a “rigorous framework.” According to CEO Vlad Tenev, the company is treading carefully when it comes to adding additional tokens.

On an earning call last year, Tenev informed analysts, “We’re going to be very careful.  We’re a regulated entity, and we’re hopeful to get some clarity soon on coins.”

Shiba inu coin started off as a parody of dogecoin, another joke cryptocurrency. It was dubbed “the joke of a joke” by Tad Park, CEO of crypto investing firm Volt Equity.

But, like dogecoin, it’s taken off, and it’s now one of the most valuable cryptocurrencies in terms of market capitalization. Late last year, Shiba inu coin overtook dogecoin to become the ninth-largest cryptocurrency, before dropping back to No. 15 in the rankings.

Shiba inu coin’s main strength is its community of ardent fans, known as “shibheads” who have fought hard for the cryptocurrency to be added to major exchanges.

Last year, the coin was introduced to Coinbase and Public.com. Shiba supporters started a petition push to persuade Robinhood to follow suit, which already has nearly 600,000 signatures.

The news of the Robinhood listing boosted Shiba inus. In late-morning transactions, Robinhood shares increased by roughly 4%.

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