Shiba Inu (SHIB) Tops Robinhood's Rankings

Popular meme cryptocurrency Shiba Inu (SHB) has managed to top this week's rankings published by prominent brokerage platform Robinhood.

The prominent meme coin is up 11% over the past week, significantly outperforming other major coins that are available on the platform.

Litecoin (LTC) comes in second place with an 8% price spike. Chainlink (LINK) is also in the top 3 after adding 6.1%.

Aave (AAVE) and Ethereum Classic (ETC) have made it to the top 5 after adding 4.8% and 3.5% over the past week, respectively.

cardTezos (XTZ), Uniswap (UNI), Ethereum (ETH), Stellar (XLM), and Compound (COMP) have also appeared in the top 10.

Welcome to New York

As reported by U.Today, the second-largest meme cryptocurrency is now available for New York residents on the Robinhood platform.

New York is particularly known for its stringent regulations, with the BitLicense licensing regime making it challenging for companies to operate in the state.

Shiba Inu initially became available for Robinhood users back in early 2022 after an intense campaign by the community behind the meme coin to get the token listed on the popular brokerage platform.

Last month, global asset management firm Bernstein predicted that the Robinhood stock would be able to benefit from a “monster” cryptocurrency rally in 2024. The firm predicted that the total cryptocurrency market cap would be able to top a staggering $7.5 trillion this year.

SHIB is currently trading at $0.00002535, with its market cap sitting at nearly $15 billion. However, the token is still down more than 70.6% from its all-time high that was achieved in October 2021.