Meme Coin Shiba Inu Surpasses Doge By Market Cap As Supporters Petition Robinhood To List It – Shiba Inu is now the 11th most valuable cryptocurrency, with a total market value of more than $28 billion, according to CoinMarketCap. Supporters of the so-called meme coin believe it’s a worthy rival to Dogecoin (CRYPTO:DOGE), a controversial cryptocurrency that was created as a joke and went on to rocket in value.
Shiba Inu is now within striking range of displacing Dogecoin in the vaunted top 10 list of most valuable cryptocurrencies. After declining by roughly 7% on Wednesday, Dogecoin’s market value now stands at roughly $31.6 billion.
Yet, investors might want to exercise some caution in regard to buying Shiba Inu at these levels. Regulators are stepping up their scrutiny of crypto trading platforms, which could force Robinhood to hold off on making Shiba Inu available for trading to its customers.
“We’re going to be very careful,” Robinhood CEO Vlad Tenev said when discussing the topic of increased regulation and the risks posed by new coin listings during the company’s third-quarter conference call on Tuesday.
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Read about Meme Coin at https://www.forbes.com/sites/lisakim/2021/10/27/meme-coin-shiba-inu-surpasses-doge-by-market-cap-as-supporters-petition-robinhood-to-list-it/?sh=6b6c172b3220
