Is Shiba Inu coin on Robinhood? Not yet — but there are a slew of people trying to make it happen.
Shiba Inu coin on Robinhood
There’s a new Change.org petition for the Shiba Inu cryptocurrency coin to be listed on Robinhood, the stock trading app that allows people to buy and sell cryptocurrencies.
- In fact, a Change.org spokesperson told Newsweek that the petition has become the 10th largest petition on the website for the month of May.
- A Change.org user named Tristan Luke created the petition. The goal was to get 150,000 signatures. So far, it has reached about 86,000 signatures, per Newsweek.
Social media has been pushing for Robinhood to list Shiba Inu coin on its app, which would expose the cryptocurrency to more people and potentially make its value rise, according to Yahoo! Finance.
- Dogecoin — a meme-based cryptocurrency that rivals SHIB coin — is available on Robinhood, as I wrote for the Deseret News.
Dangers of Robinhood, stock-trading apps
Legendary investor Warren Buffett said at the beginning of May that stock-trading apps like Robinhood are similar to gambling. He said the apps make it easier to invest, which turns investing into a gambling-like experience, CNBC reports.
Buffett said at the time that the Robinhood app has “become a very significant part of the casino aspect, the casino group of people, that has joined into the stock market in the last year or year and a half.”
In general, Buffett said there’s no issue using the apps, but it can’t be the only way to invest, as I wrote for the Deseret News.
- “There’s nothing illegal about it, there’s nothing immoral but I don’t think you’d build a society around people doing it,” said Buffett, according to CNBC.
- “The degree to which a very rich society can reward people who now know how to take advantage essentially of the gambling instincts of not only the American public but the worldwide public, it’s not the most admirable part of the accomplishment,” Buffett said.