Popular brokerage firm Robinhood listed Shiba Inu (SHIB) for its users. After months of rumors about this listing, the platform made it official via its official Twitter handle.

Related Reading | Robinhood To Roll Out Crypto Wallets To 1,000 Users In Phase One

In addition, the platform announced a $100,000 crypto giveaway to incentive Shiba Inu (SHIB) adoption. Users have a chance at winning a portion of the price by interacting with Robinhood via Twitter.

The announcement had a positive impact on the price of SHIB and the prices for Solana (SOL), Polygon (MATIC), and Compound (COMP). Immediately after, the cryptocurrency began an upward trend from its yearly lows.

Data from CoinGecko indicates that SHIB rose from $0.00002000 to $0.00002680, at the time of writing. This represents more than a 20% increase in the last 24-hours compared to a 1% profit in the past week.

SHIB rallying on the 4-hour chart. Source: SHIBUSDT Tradingview

As expected, with the price bump, the cryptocurrency experienced an increase in volatility and its trading volume. This could provide dangerous conditions for market participants.

Research firm Santiment records a 30% pump for Shiba Inu (SHIB) making it the best performer of the crypto listed today on Robinhood. Santiment noted:

Shiba Inu, Solana, Polygon,…

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