Will Tesla accept Shiba Inu as Payment mode and Robinhood list Shiba Inu in its Exchange?

If the back-end payment processing code on Tesla’s website is to be trusted, Shiba Inu might be accepted as a form of formal payment. The code is now unavailable to the general public and goes under the names “Apple Pay,” “Bitcoin,” and “Shiba.” The majority of the back-end programming is for various payment types. According to the backend code, Bitcoin and Shiba Inu might make it to Tesla.

Elon Musk, the CEO of Tesla, is a fan of Dogecoin, but Bitcoin and SHIB have a larger-than-life following from a commercial standpoint. Bringing these two cryptos on board will attract both large investors and millennials.

”We can confirm #Tesla has placed #SHIB alongside #Bitcoin into their website’s payment processing system code. It is not currently enabled to the public & could be scraped at any time,” Watcher. The news was confirmed by SHIB’s official Twitter account. They sent out a tweet claiming that the back-end payment option may be true, citing their developer.

Shiba is mentioned on the Tesla website.

Despite the fact that the website mentions “SHIBA,” the code does not run any scripts and is not enabled. One programmer, however, proposed that the code might be used to create a new ‘Crypto’ payment gateway at the checkout. Tesla used to accept Bitcoin as a form of payment but stopped doing so due to environmental concerns.

It might instead be a simple joke aimed towards bitcoin holders. After Elon Musk revealed he did not own any SHIB, the ‘ShibArmy’ has turned its back on him. This most recent addition might be a slap in the face to them. Some sceptics believe it was just added as a prank by someone with access to the Tesla website back-end.

Alternatively, the code just says SHIBA, not SHIB, the Shiba Inu Coin’s official ticker. It might be a codename for Dogecoin, a cryptocurrency. The support of Elon Musk for Dogecoin is well-known. DOGE is “the people’s crypto,” according to the Dogefather, who also acknowledged that he owns it. Given that his firm, Space-X, has already accepted Dogecoin for its DOGE-1 mission, SHIBA appears to be a hint towards Dogecoin acceptance in the future.

Why is Shiba Inu a Superstar meme coin?

In October 2021, Shiba Inu had a phenomenal run, with the coin increasing by +900%. Thousands of new investors got on the SHIB bandwagon as a result of the strong purchasing demand. The coin is the world’s third most Googled cryptocurrency. Only Bitcoin and Ethereum are ahead of it. Dogecoin, a competitor, is rated sixth. SHIB’s market capitalization is increasing, and it now stands at $39 billion, up 10.65% in the last trading day. In October of 2021, the coin surpassed practically every other cryptocurrency on the market and provided significant returns on investment.

Will Robinhood Get Shiba Inu listed in its exchange?

Investors hoping for Shiba Inu, a meme-inspired cryptocurrency that has risen in value this month, may have to wait, as the app-based brokerage says it is not in a rush to list new currencies, and analysts anticipate income growth to come from other sources.

On November 1, 2021, CoinMomo projected that Robinhood would list Shiba Inu on its platform. Robinhood’s Q3 numbers suggest the company is in jeopardy, as crypto income has dropped dramatically, and its prior saviour, Dogecoin, has failed to deliver.

Doge’s allure faded as the coin’s price failed to rise since its bottom in May 2021, prompting investors to go elsewhere. Shiba Inu has dominated the spotlight and is now the most popular investment option among investors.

Nonetheless, Robinhood has not verified a Shiba Inu listing, so we’ll have to wait and see. Furthermore, in light of its Q3 failure, Robinhood now requires SHIB more than SHIB requires Robinhood. Shiba Inu is presently trading at about $0.00007149, up around 9.47 per cent in 24-hour day activity. The coin is still showing strong emotions and might continue to rise as purchasing pressure builds. The addition of Robinhood might cause SHIB to drop a digit or two since it would allow millions of new investors to trade the coin.

Those hoping for Robinhood Markets to offer Shiba Inu may have to wait, as the app-based brokerage has stated that it is not in a rush to list new currencies, and analysts anticipate revenue growth to come from other sources.

About Robinhood exchange

Robinhood Markets, Inc. is an American financial services firm best known for pioneering commission-free stock, ETF, and cryptocurrency trading using a mobile app launched in March 2015. Robinhood is a FINRA-regulated financial adviser that is also a member of the Securities Investor Protection Corporation. It is also registered with the US Securities and Exchange Commission. Interest gained on clients’ cash balances, selling order information to high-frequency traders and leveraging borrowing are the three primary sources of revenue for the company. Robinhood has 31 million users as of 2021.

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