John McCrank and Tom Wilson

NEW YORK/LONDON – Investors are clamouring for Robinhood. (NASDAQ:) Markets hosting shiba-inu may have to hold their breath as the app-based brokerage states it is not in a hurry to list any new currencies. However, analysts believe that revenue growth will come from somewhere else.

Inu is a spunoff from dogecoin. It was created as a parody of the cryptocurrency frenzy of 2013. Its price rose by up to 1,000% in the last month and has now become the eighth-largest cryptocurrency worldwide with a market capital of $42 billion.

Robinhood members are clamoring for a share of the currency’s dramatic rally.

The No. Robinhood received 1 question upvote on its Say Technology platform. This crowdsourcing platform allows retail investors to ask questions before the broker’s earnings call.

A separate petition asking Robinhood for shiba-inu listing has almost 400,000 signatures. Meanwhile, #SHIB was trending online (NYSE:), with an avalanche of tweets titled “When #shiba?” aimed at Robinhood.

You can purchase shiba Inu from some crypto trading platforms like Coinbase (NASDAQ). Robinhood has generally lower fees than competitors and allows customers to trade it. This would enable them to swap between stocks, options, or crypto all in one place.

This week, the brokerage stated that it would wait to receive more regulatory clarity regarding any potential new digital currencies.

Global regulators have taken steps to curb the rapid growth of the cryptocurrency market. The U.S. Securities and Exchange Commission has stated that it is examining several aspects, including the sale and offer of crypto tokens.

Robinhood currently lists seven cryptos, including Dogecoin. This cryptocurrency accounted for 62% in its second quarter volume of cryptocurrency transactions, helping to boost its results.

While the popularity of the shiba-inu cryptocurrency could result in a comparable volume increase, it is possible that clients will demand crypto.

Crypto platforms must continue to seek out new coins to offer investors faster returns. Mati Greenspan is CEO of Quantum Capital’s crypto advisory and analysis division.

For an exchange, that could mean… Relaxing their path to acceptance by reducing diligence. They may end up listing useless coins or even frauds.” he stated.

Joseph Edwards from Enigma Securities, London, heads research, said that while it is important to not be last to list coins, it’s also a good idea for a broker. That’s because price tends to collapse at this point. As a result, it’s a bit of a chicken game between the exchanges.

He said that brokers will continue to follow the latest trends in market access, whatever flavor it is… to ensure their short-term financial viability.

Robinhood’s revenue from cryptocurrency trading has increased by 860% in the past 12 months, thanks to retail investor interest and the influx of millions more customers.

The company stated earlier this week that revenues fell 78% from their second quarter. This is far greater than the 35% drop in volume of crypto trading.

Robinhood shares plunged after this week’s report by the retail broker that reported lower revenue than anticipated.

Robinhood was established in 2013, with an industry-standard commission-free model. It gained popularity during COVID-19 lockdowns when most forms of entertainment and sports were suspended and trading in meme stocks became a popular pastime for young investors.

Robinhood has recently announced that crypto wallets will be available to users in early 2019. This allows them to move cryptocurrencies between Robinhood accounts. More than 1,000,000 people registered for the service on Tuesday. Piper Sandler’s O’Neill said that if dogecoin does not rise again or new coins aren’t listed, a successful launch is crucial for Robinhood to bring back its crypto revenues to the second quarter.