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Robinhood Is Testing A Dogecoin Wallet, SHIB Army Keeps Waiting

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The well-known trading platform among millennials in the United States, Robinhood, seems to be poised to start testing the Shiba Inu’s (SHIB) competitor, Dogecoin (DOGE).

Christine Brown, Chief Operating Officer at Robinhood Crypto, unveiled a screenshot through a tweet where she showed a DOGE transfer that took place last week.

The transaction fee was just 0.02 DOGE or $0.0044 for a 420.71 DOGE payment ($91.82). As expected, Billy Markus, Dogecoin co-founder, echoed from the news, saying that the test was “huge.” Brown dubbed the transfer as an “alpha one,” implying that the testing phase is underway.

Robinhood already hinted at the possibility of adding cryptocurrency wallets to its offerings, with Brown announcing that over 1.6 million joined the waitlist.

SHIB Community Still Waiting

Still, the SHIB Army remains expectant of further updates on whether the US-based trading platform will list the second most popular meme coin across the crypto sphere or not.

As of press time, Robinhood Crypto’s team hadn’t provided any comment in that regard, aside from saying that there are no plans at this moment to list Shiba Inu, citing volatility and technical aspects around the coin.

DOGE/USD Technical Outlook

As of now, DOGE remains bullish on the day and picked up momentum above the $0.2200 handle following the news, although the 50-period simple moving average provides dynamic resistance across the board. As a result, gains are limited, as well as the on-chain activity at this point.

That said, the RSI indicator is aligning within the positive territory to allow more gains as the slope is trying to trend higher. After clearing out the 50 SMA, the next tough nut to crack to the upside would be the 200-period simple moving average at around $0.26.

However, if bears strengthen at this stage and the support zone of $0.22 gives up, the next hurdle to overcome would be the $0.20 zone in a first degree, followed by the $0.1850 area.

This article was originally posted on FX Empire

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