In a dedicated X thread titled “Let’s Talk SHIB—One of Crypto’s Most Popular Stories,” Robinhood Crypto Europe captured the essence of Shiba Inu’s rise. It laid out the token’s history, its successes, and the path that turned this memecoin into one of the most talked-about cryptocurrencies.
According to Robinhood’s post, Shiba Inu (SHIB) was launched on July 31, 2020, by a pseudonymous developer known as Ryoshi. With an initial supply of 1 quadrillion tokens, SHIB was designed to be fully community-driven, reflecting the decentralized ideals that crypto enthusiasts admire.
A significant event in SHIB’s early history was when Ryoshi gifted half of the token’s supply, 500 trillion SHIB, to Ethereum co-founder Vitalik Buterin. In an unexpected move, Buterin burned 410 trillion of these tokens and donated the remainder to charities. Buterin admitted he believed the token would lose its value. Despite this, SHIB’s success defied his expectations.
Shiba Inu Community-Led Success
Shiba Inu’s community has driven several key initiatives. Robinhood highlighted projects like Shibarium, a Layer-2 scaling solution, ShibaSwap, a decentralized exchange, and a metaverse project. These ventures underscore Shiba Inu’s evolution beyond just a memecoin into a token with utility and purpose.
Furthermore, Robinhood’s post emphasized the upcoming NFT marketplace, another ambitious step for SHIB. Each of these initiatives reflects the dedication and leadership of SHIB’s community. What started as a joke in the crypto space has developed into an ecosystem capable of shaping the future of decentralized finance.
Shiba Inu’s price action is a testament to its meteoric rise. SHIB started trading at $0.000000000056 and later surged to an all-time high (ATH) of $0.00008845, marking an astonishing 157 million percent increase. While such gains might seem like a fluke, they showcase the potential hidden in community-driven projects.
This momentum has pushed Shiba Inu to be listed on major trading platforms, including Robinhood. In April 2022, SHIB debuted on Robinhood’s U.S. platform, and by November 2023, it expanded to Robinhood’s European arm.
Despite Robinhood’s rigorous listing process, Shiba Inu has maintained its place on the platform. Data from Etherscan reveals that Robinhood holds over 47 trillion SHIB tokens, making it one of the largest SHIB holders. This substantial holding reflects the brokerage’s confidence in Shiba Inu’s long-term potential.
Shiba Inu has evolved from a memecoin into a significant player in the crypto market. With a dedicated community, a growing ecosystem, and support from influential platforms like Robinhood, SHIB’s future looks promising. This once-dismissed token now commands the attention of the global crypto market.