The cryptocurrency platform Robinhood has shared a detailed post on X, focusing on the rise of Shiba Inu. The thread highlights the history and some achievements of the token’s ecosystem.
Origin
In its post, Robinhood Crypto Europe outlined how the asset was launched by the pseudonymous developer Ryoshi on July 31, 2020, with an initial supply of 1 quadrillion tokens. One notable part of its early history is the transfer of half of the total token supply (500 trillion SHIB) to Vitalik Buterin, the co-founder of Ethereum. Buterin later chose to burn 410 trillion of these tokens and donated the rest to charity. Robinhood also highlighted that the token is a community-driven project and praised the decentralization model behind the token, where its development and growth have been led by its community members.
Ecosystem Growth
Since the beginning, the digital asset development team has launched several projects that have expanded its ecosystem. Robinhood mentioned key projects like the Shibarium Layer-2 blockchain scaling solution, the ShibaSwap decentralized exchange, and an ongoing metaverse project.
Impressive Market Performance
Robinhood also acknowledged the remarkable success the asset has seen since its launch. Initially introduced as a memecoin, its growth exceeded many expectations, including those of Buterin, who predicted that the token could lose 100 times its value. Contrary to these expectations, the asset saw a meteoric rise, with its price reaching an all-time high (ATH) of $0.00008845. This surge marked an extraordinary increase of more than 157 million percent from its initial trading price of $0.000000000056.
Despite Robinhood’s selective listing process, the digital asset has secured a spot on the platform. It was first introduced to Robinhood’s U.S. users in April 2022 and expanded into Europe in November 2023.
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