Robinhood Crypto EU has broadened its support for Shiba Inu (SHIB) coin transfers using its commission-free trading application. This update offers SHIB users the opportunity to earn a 1% bonus when transferring tokens from other cryptocurrency exchanges into the Robinhood app. The announcement has resulted in significant volatility in SHIB’s price.
Launch of SHIB Transfer Support
In an official announcement made on November 9, Robinhood Europe revealed that Shiba Inu coin has been added to the list of supported cryptocurrencies for crypto transfers. With this move, users can now easily transfer their SHIB tokens.
Bonus Opportunity and Usage Terms
The commission-free crypto trading application 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 choose the Robinhood platform.
The crypto transfer service simplifies storage and withdrawal transactions by including 30 cryptocurrencies such as Bitcoin 
$95,592, Ethereum 
$3,575, Solana 
$238, and Cardano 
$1. Additionally, it provides benefits like control, security, and crime insurance for users.
Despite the new additions, some major cryptocurrencies like XRP and Toncoin (TON) are still not supported for transfers on Robinhood Europe, which presents limitations for certain users.
Future of SHIB Prices
Following the addition of transfers for Pepe Coin (PEPE) and Dogecoin 
$0.401864 (DOGE), these coins experienced price increases of 40% and 45%, respectively. This has led to expectations that Shiba Inu might also see a similar surge. Presently, SHIB’s price has increased by 14%.
In the last 24 hours, SHIB’s price rose by 1%, accompanied by a 23% increase in trading volume. Furthermore, the open interest for SHIB futures in the derivatives market has grown by 6%, reaching $3.34 trillion. These developments indicate a rising interest in meme coins.
For SHIB’s price to potentially reach the $1 mark in the future, there must be sustained demand and interest from traders in meme coins. Traders can closely monitor such developments to strategize effectively.
