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29 May 2024
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Ethereum

Shiba Inu Surges 7% As Holders Can Now Shop At Nike & PS5

Shiba Inu [SHIB], the cryptocurrency born from the infamous DOGE meme, has surged once more. Recently, SHIB saw a 7% increase in price, echoing a broader trend in the cryptocurrency market. While this uptick might appear as just another fluctuation in the volatile world of digital assets, it signifies a more profound change: the integration of SHIB into mainstream commerce.

CoinGate, a fintech firm based in Lithuania, has taken the lead in this movement by linking SHIB with Polygon and Binance Smart Chain [BSC]. This strategic maneuver expands Shiba Inu’s usefulness beyond speculative trading, opening doors to everyday transactions. SHIB holders can now utilize their tokens to buy goods from prominent brands like Nike and secure accommodations through platforms like Airbnb.

This development holds immense significance. Once viewed merely as a meme coin, Shiba Inu now demonstrates its practicality as a medium of exchange in the real world. CoinGate’s payment gateway acts as a vital connector between the crypto industry and traditional finance. It facilitates smooth transactions for various goods and services. The firm further said,

“Shibarmy, use your SHIB to book Airbnb, grab the latest games from Steam & PS5, refresh your wardrobe with Nike & Zalando, and more.”

Also Read: Shiba Inu Forecasted To Rally 125%: Here’s When

More Than Transactions

But SHIB’s evolution doesn’t halt transactions. The project is actively striving to move away from its meme coin origins and establish itself as a significant player in the blockchain realm. The introduction of Shibarium, an Ethereum layer-2 scaling solution, marks a significant milestone in this journey. Alongside a recent major hard fork, this upgrade promises faster transactions and more stable gas fees, ultimately enhancing user experience.

Also Read: Shiba Inu: When Will SHIB Reach 2.5 Cents?

Furthermore, the Shiba Inu team’s ambitious plans for a layer-3 blockchain, are backed by a $12 million fundraising effort. It underscores their dedication to innovation and expansion. Noteworthy investors such as Polygon Ventures, Mechanism Capital, and Animoca Brands have shown confidence in SHIB’s potential to disrupt the norm.

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