Shiba Inu (SHIB), a meme-based cryptocurrency, has emerged as one of the top performers on both Robinhood and Grayscale’s gainers lists. Originally launched as a playful homage to Dogecoin (DOGE), Shiba Inu has steadily evolved into a serious contender in the crypto market.
Over the past few months, SHIB has gained considerable momentum, leaving market participants, investors, and enthusiasts excited about its potential. Various factors have contributed to Shiba Inu’s meteoric rise, ranging from increased utility to adoption across different industries.
The token also has a growing ecosystem that continues to attract new investors. This surge is particularly noteworthy as it comes amid broader market volatility and growing scepticism surrounding meme coins. Yet, SHIB has managed to defy the odds and see its value increase.
Shiba Inu’s Growing Usage in E-commerce, Hospitality, and iGaming
One of the primary factors driving the recent surge is cryptocurrency’s growing adoption across a variety of industries, including e-commerce, hospitality, and iGaming. As more businesses embrace crypto, Shiba Inu has found itself among those that have become popular enough for mainstream transactions.
For iGaming specifically, crypto writer John Smith says the popularity of crypto casinos for UK players stems from them providing anonymity and the added layers of security that come with blockchain technology. These enhancements also enable faster transaction speeds and lower fees, giving them a major edge over conventional online casinos.
In the e-commerce sector, companies are gradually opening up to the idea of accepting cryptocurrencies like SHIB for everyday purchases. Several online retailers, especially those catering to younger, tech-savvy consumers, have started integrating SHIB as a payment option.
This growing trend has allowed Shiba Inu to transition from a speculative asset to a token with real utility, further enhancing its appeal among both retailers and customers. Also, in the hospitality industry, many hotels, resorts, and travel agencies have begun to accept SHIB as payment for bookings and services.
This has been particularly attractive to tourists looking for a decentralised way to pay for their stays, and it offers travellers the convenience of using a global currency. As the travel sector has begun to rebound, SHIB’s role in the hospitality sector is expected to increase.
The Impact of Whale Accumulation and Major Partnerships
Another notable factor contributing to SHIB’s rise is the accumulation of tokens by crypto whales—large investors who hold significant amounts of cryptocurrency. Whale accumulation has historically been a positive signal in the crypto market, as it suggests that big players have confidence in the long-term potential of a particular asset.
Over the past few months, data has shown that whales have been purchasing large amounts of SHIB, further driving up its price. Moreover, Shiba Inu has secured several strategic partnerships that have bolstered its growth.
Partnerships with payment platforms like NOWPayments and Flexa have made it easier for merchants to accept SHIB as a form of payment. These collaborations have increased the token’s utility and opened the door for even more widespread adoption in the future.
With its growing use in diverse industries, expanding ecosystem, and increased exposure through major listings, Shiba Inu has proven that it is more than just a meme coin. As it continues to gain momentum, SHIB is positioning itself as a formidable player in the cryptocurrency market, with retail and institutional investors keeping a close eye on its progress.
Robinhood and Grayscale Listings: Catalysts for SHIB’s Rise
Shiba Inu’s listings on major platforms like Robinhood and Grayscale have also played pivotal roles in propelling its recent surge. Robinhood, one of the largest trading platforms in the US, added SHIB to its list of supported cryptocurrencies in early 2022.
This move significantly increased the token’s accessibility, allowing millions of retail investors to easily trade Shiba Inu alongside other major cryptocurrencies like Bitcoin and Ethereum. Also, the addition of SHIB on Robinhood was seen as a major milestone for the coin, as it validated the asset’s legitimacy and potential.
Before its listing, SHIB enthusiasts had launched a petition on Change.org, calling for Robinhood to include the token on its platform. The campaign garnered over half a million signatures, underscoring the strong demand for SHIB among retail investors.
Grayscale, one of the world’s largest digital asset management firms, has also played a key role in SHIB’s rise. The firm, which manages billions of dollars in cryptocurrency assets, added SHIB earlier in 2021 to its portfolio, exposing the token to institutional investors.
This played a role in further legitimising Shiba Inu as a serious investment option and contributed to its upward trajectory. The Grayscale listing has allowed SHIB to capture the attention of hedge funds, institutional investors, and high-net-worth individuals who are looking to diversify their crypto portfolios.