Shiba Inu Coin Joins Bitcoin & ETH For Crypto.com Visa Card Funding

by

As a researcher with a background in cryptocurrencies and blockchain technology, I am thrilled to see Shiba Inu Coin (SHIB) making yet another significant stride towards mainstream adoption. The recent announcement by Crypto.com that SHIB can now be used to fund its popular Visa card is an exciting development for the Shiba Inu community and a recognition of SHIB’s growing value.

As a researcher studying the cryptocurrency market, I’m excited to report that Shiba Inu Coin (SHIB) has reached another significant milestone on its path to mainstream adoption. This development was brought to my attention by a well-known member of the SHIB community, Ragnar Shib.

As a financial analyst, I can tell you that this latest advancement in Shiba Inu’s development has sparked significant enthusiasm within the community. The reason being, it significantly boosts SHIB‘s functional value and expands its presence in the monetary sector.

Shiba Inu Coin Hits New Milestone

As a crypto investor, I’m excited to share that I can now use my Shiba Inu Coins (SHIB) to fund transactions with my Crypto.com Visa card. This new feature, provided by the leading crypto exchange Crypto.com, opens up a world of possibilities for SHIB holders like me. Instead of just watching our tokens as a meme currency, we can now put them to practical use in our daily expenses. This step signifies a significant milestone in SHIB’s evolution from a popular internet phenomenon to a valuable and usable cryptocurrency.

As an analyst, I’ve noticed that the recent announcement was met with great excitement within the SHIB community. One of its prominent members, Ragnar SHIB, shared his elation, emphasizing that this development underscores the increasing worth of SHIB.

At The SHIB Daily, a go-to source for Shiba Inu news, the announcement was made public. Based on the update, Crypto.com users received an email notification that more than 100 cryptocurrencies including SHIB, Bitcoin (BTC), and Ethereum (ETH) are now eligible for Visa card funding.

The report highlighted an email that reads:

Delighting you with this update, you now have the ability to finance your Crypto.com Visa Card using more than a hundred prominent cryptocurrencies, encompassing all geographical regions. Among them are Bitcoin (BTC) and Ethereum (ETH), as well as popular meme coins such as SHIB.

An ardent backer of Shiba Inu with the handle @Sand_ShibArmy expressed his viewpoint that this recent development signifies the importance of SHIB within the crypto sphere. Furthermore, he brought attention to the ease it brings to SHIB holders in making transactions using Crypto.com cards.

Implications Amid Price Dip

As a Shiba Inu token holder, the integration of SHIB into Visa card funding opens up numerous benefits for me. This development offers a tangible use case for my tokens, moving beyond mere speculative trading towards everyday utilization. Moreover, the heightened utility of SHIB could potentially spark greater interest and demand as more individuals become aware of its real-world applications.

As SHIB gains acceptance on prominent platforms such as Crypto.com, it bolsters investor trust and underscores institutional endorsement of the meme currency. This approval may entice fresh investors in search of crypto investments offering practical applications.

Additionally, this latest integration supports Shiba Inu’s mission to broaden its ecosystem and enhance the capabilities of its token. Through partnering with Crypto.com, SHIB has been incorporated into real-world applications, helping shift its perception from a popular meme coin to a respected and functional cryptocurrency.

The Shib Daily reportedly contacted Crypto.com to confirm the accuracy of the latest announcement. Although there was good news with the update, SHIB‘s price plunged by more than 11% today. Importantly, this drop occurred during a wider crypto market sell-off.

Furthermore, the trading volume for SHIB experienced a significant surge, reaching $598.2 million, representing a 124% increase based on CoinGlass’s latest data. Contrariwise, Open Interest for Shiba Inu Futures saw a decrease of 44%, amounting to $39.39 million as of the current report.

As an analyst, I’ve observed that despite the current situation, the Shiba Inu token burn rate has shown a notable increase. This trend underscores the community’s proactive efforts to decrease the circulating supply. Burning tokens is an effective strategy since it leads to a reduction in the total supply, potentially contributing to price growth.

  • Here’s Why Tether’s Gold-Backed Stablecoin Is A Genius Business Idea, Explains Analyst
  • Floki Inu Price Drops 50% From ATH, Will It Recover Any Time Soon?
  • Andrew Tate Predicts Solana Downturn To Boost “Real” Projects To ATH

Read More

2024-06-18 16:22