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Robinhood Crypto EU has expanded its support for Shiba Inu (SHIB) coin transfers using its commission-free trading app. This update presents SHIB users with an opportunity to earn a 1% bonus for transferring their tokens from other exchanges into the Robinhood app. As a result, this development has caused significant fluctuations in the SHIB price.
Launch of SHIB Transfer Support
On November 9, Robinhood Europe announced the inclusion of Shiba Inu coin among the supported cryptocurrencies for crypto transfers. With this initiative, users can now easily transfer their SHIB tokens.
Bonus Opportunity and Usage Conditions
The commission-free crypto trading app is offering a limited-time 1% bonus opportunity. Users can qualify for this bonus by transferring SHIB tokens from other exchanges into the Robinhood app. This incentive aims to encourage users to prefer the Robinhood platform.
The crypto transfer service facilitates storage and withdrawal processes by including 30 cryptocurrencies such as Bitcoin 
$102,571, Ethereum 
$2,579, Solana 
$174, and Cardano 
$0.787339. Additionally, it offers advantages like control, security, and crime insurance for users.
However, some major cryptocurrencies like XRP and Toncoin (TON) are still not supported for transfers, despite Robinhood Europe’s recent additions, creating limitations for certain users.
Future of SHIB Price
Following the addition of Pepe Coin (PEPE) and Dogecoin 
$0.229587 (DOGE) transfers by Robinhood, these coins experienced an increase of 40% and 45% respectively. This has raised expectations that Shiba Inu coin might also see a similar rise. Currently, the SHIB price has shown a 14% increase.
In the last 24 hours, the SHIB price rose by 1%, with trading volume increasing by 23%. Moreover, open interest in SHIB futures in the derivatives market has reached $3.34 trillion, marking a 6% increase. These developments indicate a growing interest in meme coins.
For SHIB to reach the $1 level in the future, substantial demand for meme coins and continued investor interest will be necessary. Traders can closely monitor such developments to shape their strategies.
