Shiba Inu surges to record high. Here’s why the crypto’s price is surging

The SHIB token, as it is known, has risen 13% in the last 24 hours, according to data from CoinGecko. It is currently the 11th largest crypto with a market value of nearly $ 24 billion.

A petition on Change.org asking Robinhood to list Shiba Inu, a Dogecoin-inspired cryptocurrency meme, now has more than 326,000 signatures. On the company's earnings call Tuesday, Robinhood chief executive Vlad Tenev said he is "carefully" considering adding new coins to his offerings.

"We feel very, very good about the coins that we are currently listing on our platform and whatever new coins we add we want to feel the same, if not more good," Tenev said.

Coinbase Global Inc. added the token last month.

Cryptocurrencies have become more critical to Robinhood's growth. Last month, the brokerage said it planned to offer crypto wallets, a tool that allows investors to send and receive digital currencies. The waiting list for that product has surpassed one million customers, the company previously said. According to his latest filing, 64% of crypto revenue came from Dogecoin.

To exchange Shiba Inu it has been volatile on its way up. Crypto crashed earlier this week after Elon Musk tweeted that he did not own the coin. In a follow-up tweet, he said that he had bought Bitcoin, Ether, and Dogecoin, and "that's it."

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