Recently, the attention of the crypto circle was attracted by Shiba Inu. The Meme project token SHIB with the Shiba Inu expression rushed from around US$0.000027 to around US$0.000044 in 2 days, an increase of more than 62%, and it also broke a record high.
The surge in SHIB is not unrelated to a rumor. On Sunday, an analytical website stated without citing any authoritative sources that SHIB will launch Robinhood, a financial products trading market, on Monday. In the end, the fact that it did not happen confirmed that this was a rumor.
Rumors and truths are driving the ups and downs of SHIB in the game of the public opinion market, and also blur the focus-Shiba Inu officially approved volunteers have released new developments on Medium. The project's own blockchain platform Shibarium will be released on Medium. Tests and audits will take place after a few months. This encrypted asset born from Meme seems to want to go further.
"Listed on Robinhood" rumors spurred a surge in SHIB
The rumors of "SHIB launching Robinhood" will appear almost every once in a while. It was originally an expectation of holders who call themselves "ShibArmy". Some people even initiated a petition website "change.org" specifically for this wish. The petition voted, and more than 315,000 people signed online.
Robinhood is a network platform that mainly provides free service fees for stock and encrypted asset trading to retail investors. It has supported 7 types of encrypted assets including BTC, ETH and DOGE. But last Sunday, rumors about the launch were widely circulated due to the addition of a time element, which spurred the rise of SHIB for a short time.
The cause of this rumor may originate from Robinhood’s recent market survey for users. A screenshot of the questionnaire was posted on Twitter by netizens. One of the contents of the survey was that the platform asked users whether they had purchased certain crypto assets in the past three months. The list includes Cardano, XRP, Dash, Bitcoin, etc., including Shiba Inu.
Can Shib Legion’s wishes be realized on Robinhood in the near future? The platform did not respond positively. Robinhood CEO Vlad Tenev was interviewed by CNBC last week. Throughout the interview, he did not answer the question of whether SHIB will be added to its crypto assets related products, but officially stated that "we see the continued development of crypto trading Business opportunities".
On Monday, while this rumor was self-defeating, Tesla founder Elon Musk poured cold water on SHIB investors.
Musk was elected by netizens as the "Dogecoin Godfather" for calling DOGE in the first half of the year. On Sunday, a netizen asked on Twitter how much SHIB Musk holds, but the "Godfather" replied "No." After that, he simply reminded users not to invest all their savings in encrypted assets, "The real value lies in creating products and services for your fellow human beings, not any form of money."
These responses knocked out the rise of SHIB by 10%, and its price fell below $0.00004. At least, this breaks the long-standing wishful thinking of investors-because Musk often shares pictures and avatars of Shiba Inu on Twitter, and even some copycat projects are made by his tweet word "coinage", one named FLOKI Musk’s pet dog name was chosen for his token.
In early October, when Musk posted his Shiba Inu pet on Twitter, it triggered the rise of various dog Meme coins, and the topic of SHIB's label was also widely reposted.
Shiba Inu's real action points to a separate chain
When rumors on the Internet were gambling between true and false, the number of SHIB holding addresses increased to more than 779,000. The celebrity effect is indeed one of its ways to expand its voice, and Shiba Inu has been holding since its inception. The dream of decentralization built from scratch by the author.
Ryoshi previously introduced himself as an "independent trader" and "no name" of crypto assets, but has always been fascinated by the origin of the decentralized community, so he founded Shiba Inu, wanting to see what "zero" will eventually grow into. Such a community-oriented project has also been praised by the grassroots.
Until May 29 of this year, Ryoshi sublimated the mission of the project. Focusing on the traffic talents brought by this pass, Ryoshi began to plan the creation of functional applications, intending to form an ecosystem of products such as transactions, two-layer networks, and NFTs. Since then, SHIB has become no longer just a Meme coin.
Various functions provided by Shibaswap
Up to now, Shiba Inu has formed Shibswap, Shibshis games, Shiba charity and other products and directions. Among them, Shibswap has formed an economic system operated by three Tokens: SHIB (base currency), LEAH (incentive token), and BONE (governance token). , And provide mining, NFT, burning, trading, equity incentives, pledge and other functions.
When rumors about SHIB's secondary market are flying, people may passively obscure Shiba Inu's true movement.
To put it simply, SHIB is also building a chain. In addition, Shytoshi Kusama said that other developers are developing the Shiboshi game and updating ShibaSwap, "Our biggest top-secret project is already in progress." He did not disclose the content of this top-secret project, which drew the appetite of the outside world.
Perhaps, the rumors are only the superficial factor of the surge of SHIB. The Shiba Inu community does not want this "Shiba Inu" to stay on the road of Meme coin. This expectation is the internal factor that promotes SHIB's ascent, but whether the plan can be implemented will be tested one by one. Does this community have the ability to execute?