Feb 19, 2022
SHIBA’s stocks are falling while ROBINhood’s are going up, despite the dip in SHIBA’s value.
Shiba Inu, a stock market exchange in Japan, has seen an increase in its market capitalization over the past year, which is now about half that of Robinhood, which is another stock exchange.
While Robinhood’s market cap stands around $10 billion, SHIB’s market cap grew to $16 billion.
Robinhood shares seem to be plummeting like a pack of cards as it dipped -9.33% yesterday reaching new weekly lows. Its shares are now trading at $12.5 from its initial public offering of $38 in July 2021.
The majority (61%) of its Q2 revenues came from Dogecoin alone, but the meme-token failed to spiral upwards in price.
Dogecoin was able to maintain its momentum, but eventually it fizzled out as investors took notice of other meme-coins on the market.
The SHIB listing on Robinhood will open the floodgates to new investors, who will benefit equally from both parties.