SHIB and MATIC Prices Rise After Listing on Robinhood
Shiba Inu and Polygon reacted positively to the April 12 listing of Robinhood. Cryptocurrency tokens SHIB and MATIC rose in price, and the meme-coin reacted to this event much better.
In 24 hours, the cost of SHIB increased by 17%. However, yesterday, when the listing was announced, the price surge was higher. The price of the cryptocurrency rose by 21% in less than 2 hours.
Many experts say the community has reacted too cool to the SHIB listing. Although the value of the coin is 25% higher than 30 days ago, it is still well below the ATH set in October 2021. The difference between the current price and the high reached is 68%.
Currently, the Shiba Inu token by capitalization has dropped lower in the TOP of coins. Now SHIB is in 15th place. There are only 4 places left before the competitor (Dogecoin), as DOGE is in 11th place according to CoinMarketCap.
The situation with Polygon does not look so rosy. Experts say it is likely that the market has already reacted to a possible listing on Robinhood earlier. After all, there have been rumors about it for a long time.
The value of the MATIC cryptocurrency increased by 10%, rising from $1.33 to $1.47. In a month, the increase was only 5%, and the current value is 50% lower than the ATH achieved in December 2021.
Recall that the Robinhood platform added to the listing not only MATIC and SHIB, but also SOL (Solana) and COMP (DeFi Compound). These two cryptocurrencies showed a small increase. SOL gained 1.7% on the day and 31% on the month. However, today's price is still 60% below ATH.
The growth of the COMP coin was only 8% at the close of trading, for the month - only 33%. This figure is still 85% below the high reached in May 2021.
Thus, the news about the listing on Robinhood is not well received by investors. This, according to analysts, indicates the presence of a bear market. And when the turning point will come, it is not known.
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