After 30% rally in 24 hours, can Shiba Inu offer more upside?

economictimes.indiatimes.com:

Shiba Inu was in the spotlight on Wednesday as the token zoomed over 31 per cent in the last 24 hours. The popular meme coin listed on the trading platform Robinhood apart from Solana, Polygon and Compound. With this, investors can now access 11 cryptos on its platform, including Bitcoin, Ethereum and Dogecoin. Among the newly listed tokens, Shiba Inu was the most abuzz as it rallied 31 per cent to $0.00002977 from $0.00002272 within 24 hours. However, the token is still 65 per cent below its all-time peak of $0.00008 hit in October 2021.

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Volumes of Shiba Inu also witnessed a spectacular jump of 475 per cent as SHIB tokens worth more than $4.36 billion exchanged hands in the last 24 hours. Ishan Arora, Partner, Tykhe Block Ventures said the Shiba Inu will attract ample eyeballs as it has listed on Robinhood, the largest retail stock trading app. The users can quickly buy Shiba Inu with just a click without worrying about exchanges or wallets. The 15th largest crypto token was commanding a market cap close to $16 billion with a total of 549,063.28 billion SHIB tokens in supply, the data from Coinmarketcap suggested. Anndy Lian, Chairman, BigONE exchange said buzz among retail investors for Shiba Inu is more compared with other coins that got listed on Robinhood at the same time. Analysts at BigONE still see an upswing of 20-80 per cent gain from the current position. The analysis was released a few days before the Robinhood announcement. «This spike in price could also help other promising meme coins such as Floki Inu, Kishu