Shiba Inu jumped 16% on Thursday after rumours of a possible Robinhood listing went round on Twitter.
SHIB rose to a high of $0.00003 in early Asian hours before cooling off, becoming one of the highest gainers as the crypto market turns bullish. It bounced off the $0.000027 support level before picking up the upward momentum.
The meme coin is at an overall downward trend since hitting an all-time high of $0.00008 in October last year, a plunge of 62%.
The Robinhood Chief Executive Officer, Vlad Tenev, had earlier dismissed immediate plans to list the SHIB, citing the need for a thorough vetting process.
SHIB surge happens as DOGE, another meme token, gains 14% in the past 24 hours. Baby Doge and Floki Inu have also turned in 10% in the corresponding period.
Shiba Inu is ranked as the thirteenth most valuable cryptocurrency with around $17 billion market capitalization.