374
161 shares, 374 points

Robinhood relies on Dogecoin traders to paddle dog-themed meme coin projects. DeFi tokens plummeted, while dog-themed cryptocurrencies SHIB, DOGE, and AKITA made a comeback. Historically, a memecoin rally is an indicator of an overheated market and signals an impending leverage drop. Dogecoin single-handedly earned higher returns than all stocks (including options) in the second quarter of 2021 on the zero-fee Robinhood exchange. The Shiba Inu has soared to record highs with rumors that Robinhood is listing it. Details Cryptocoin. com

at .

Meme coin time

The rise in dog-themed cryptocurrency prices in the ongoing bull run has contributed to the increase in overall crypto market capitalization. Analisdollarser expects DOGE, SHIB and AKITA prices to rise even higher with updates on their ecosystems and social dominance. Dogecoin boosts Robinhood’s crypto revenue, according to JPMorgan analisdollarseries
analisdollarser at JPMorgan Chase have determined that Dogecoin is the only cryptocurrency to increase revenues on commission-free exchange Robinhood. In the second quarter of 2021, revenue from DOGE transactions exceeded revenue from equitydollars.

Interestingly, there was a shift in Q3 when revenue based on crypto-transactions fell from $233M to $51M. Analisdollarser observed on the commission-free Robinhood exchange that DOGE accounted for 61% of crypto transaction revenue in the second quarter. Crypto advocates have observed that Robinhood’s crypto revenue is primarily driven by DOGE trading volume. Cryptocurrency analyst alias @HsakaTrades recently tweeted:

https://twitter. com/HsakaTrades/status/1453116492103368705

What does the Memecoin rally signify?

Analisdollarser states that dog-themed cryptocurrencies DOGE, SHIB, and AKITA have been collected. Historically, a memecoin rally signals a drop in overall market capitalization, signaling an impending leverage of the crypto market. Delphi Digital, a leading crypto research firm, noted that dog-themed cryptocurrencies are a good indicator of a historically overheated market. Several times in 2021, in April and September 2021, DOGE, SHIB, and AKITA prices rose before the crypto market was deeply leveraged.

https://twitter. com/Delphi_Digital/status/1452742268864110599

The Shiba Inu token, popularly known as the Dogecoin killer, has recently reached an all-time high in a rumor that Robinhood is listing the memecoin. Robinhood’s main rival is Public. com has listed SHIB, and Shiba Inu token holders continue to petition for a zero-fee exchange to list the cryptocurrency. Change.To list SHIB on Robinhood. org petition surpassed 300,000 signatures, setting a new record. Analisdollarser evaluated the DOGE price trend and stated that Dogecoin was lagging in price. Analisdollarser is waiting for DOGE price to break out.


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