Popular American buying and selling platform Robinhood has introduced its resolution to delist a number of cryptocurrencies from its platform. However, the main canine-themed cryptocurrency, Shiba Inu (SHIB), stays unaffected by this growth. As SHIB continues to achieve momentum, its worth has surged whereas its burn fee has skilled a major improve.
Robinhood Delisting Announcement
Robinhood just lately revealed its plan to finish help for Cardano (ADA), Solana (SOL), and Polygon (MATIC) on June 27, 2023. The resolution follows the corporate’s evaluate of its cryptocurrency choices. Robinhood customers will nonetheless have the ability to purchase, promote, maintain, and switch SOL, ADA, and MATIC till the given deadline.
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While the precise causes for delisting weren’t disclosed, hypothesis means that latest lawsuits involving main exchanges like Binance and Coinbase, initiated by the United States Securities and Exchange Commission (SEC), could have influenced Robinhood’s resolution. Yesterday, 4 Trillion SHIB tokens have been additionally moved to Binance.
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Unlike ADA, MATIC, and SOL, Shiba Inu (SHIB) emerged unscathed from Robinhood’s delisting transfer. The platform clarified that the delisting resolution wouldn’t have an effect on different cryptocurrencies accessible on its platform, together with SHIB and Dogecoin (DOGE).
Shiba Inu Price Movements
Over the previous hour, SHIB’s worth has surged by 5.88%, indicating a constructive motion for the cryptocurrency. Moreover, the burn fee of SHIB tokens has skyrocketed over 3000% within the final 24 hours.
Over the previous 24 hours, a formidable 211,140,844 SHIB tokens have been burned, reflecting a major improve of 3874.12% within the burn fee. This burn fee surge signifies a deliberate discount within the provide of SHIB tokens, doubtlessly contributing to elevated shortage and worth.
With a complete provide of 589,350,816,104,400 SHIB tokens, the venture maintains a big circulating provide. As of the newest hourly replace, the value of SHIB stands at $0.00000619. Shiba Inu’s survival of the Robinhood delisting transfer has supplied a ray of hope for SHIB holders and lovers.