Two of the most popular cryptocurrencies Shiba Inu (SHIB) and, PancakeSwap (CAKE), are competing with the new crypto project Snowfall Protocol (SNW) as investor favorites, so we look at all three.
The crypto analyst has noted that the number of Dogecoin (DOGE) and the Shiba Inu investors buying Bitgert and Centcex is still growing bigger every day.
Fireblocks will allow merchants to integrate Shiba Inu (SHIB) directly into their operations and process them faster, at lower costs, and with greater transparency.
The Shiba Inu (SHIB) burn activity also shot up 1900 percent this week contributing to its price rally.
Memecoin Shiba Inu (SHIB) has been getting a lot of traction recently. In addition to some key developments in the Shiba Inu ecosystem, the meme cryptocurrency is seeing greater acceptance as a form of payment.
Using Fireblocks Crypto Payments Engine, millions of merchants across the world will now be able to accept payments in Shiba Inu (SHIB). The multi-billion dollar crypto infrastructure services provider, Fireblocks, recently launched its crypto payments engine in partnership with one of the world’s payment processing firms, FIS WorldPay.
The Fireblocks Crypto Payments Engine comes with a new set of tools that will allow merchants to accept, manage and settle cryptocurrency transactions, including Shiba Inu. The crypto payments engine from Fireblocks allows for faster fiat-to-crypto and fiat-to-fiat cross-border transfer solution merchant settlements. This further makes it easy for Payment Service Providers (PSPs) to settle transactions easily across multiple currencies.
Interestingly, Fireblocks will allow merchants to integrate Shiba Inu directly into their operations and process them faster, at lower costs, and with greater transparency. Earlier this year, Fireblocks successfully conducted a pilot test of crypto payments with its partner Checkout.com.
Along with Shiba Inu (SHIB), Fireblocks will also allow merchants to accept the Bone ShibaSwap (BONE) crypto. The crypto infrastructure services provider currently supports payments for more than 1300 cryptocurrencies.
Earlier this month, Canada-based crypto payment gateway, FCFPay also allowed its customers to make payments using Shiba Inu (SHIB). This will allow users to subscribe to their favorite streaming services Netflix and Amazon as they accept the FCFPay Visa card.
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The SHIB Price Rally
Amid the broader crypto market rally this week, memecoin Shiba Inu (SHIB) also participated in a strong price surge. Interestingly, Shiba Inu continued with its price rally for the second day.
As of press time, Shiba Inu is trading up 7.23 percent at a price of $0.00001122 with a market cap of $6.1 billion. Amid the recent price surge, Shiba Inu has also climbed up the ranks to become the 14th largest crypto by market cap.
The recent price rally for Shiba Inu has also been fueled by a sudden spike in the SHIB burning activity. Over the last week, the SHIB burn activity has surged by nearly 1900 percent. Earlier this week, nearly 45 million SHIB coins were burnt in just 24 hours.
Additionally, the Shiba Inu has revealed a major upgrade in the SHIB metaverse. The team unveiled a new concept art for the future SHIB-themed Metaverse. The team has released new concept art for a new hub of the Metaverse called Dunes.
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In April, Elon Musk suggested that dogecoin could be used to make payments on Twitter. Photo: Muhammed Selim Korkutata/Anadolu Agency
Dogecoin (DOGE-USD) and shiba inu (SHIB-USD) soared ahead of the news that Elon Musk may finalise his purchase of Twitter (TWTR) on Friday, which is the deadline for the completion of the $44bn (£37.9bn) acquisition of the company.
As speculation grows that dogecoin could be used in a new integrated crypto payment system on Twitter, the memecoin and it’s younger sibling, shiba inu, pumped.
Dogecoin hiked almost 34% in the last seven days to sit around $0.07, up 19% in the last 24 hours.
Shiba inu also rallied 15.6% in the past week, up 8.6% in 24 hours to $0.00001136.
The Tesla (TSLA) CEO marched into Twitter’s San Francisco headquarters on Wednesday holding a sink and stating: “Let that sink in.”
A video of the act lit up the Twitter-sphere with speculation as to whether there was a deeper metaphorical meaning to the sink, beyond the obvious pun.
Musk plans a new revenue model for Twitter, with the possible introduction of dogecoin payments, price cuts, and authentication checkmarks for its Blue subscription service.
In April, Musk tweeted that anyone who signs up for Twitter Blue should pay less than the current $2.99 a month. He also said they should get an authentication checkmark.
He said: “Price should probably be ~$2/month, but paid 12 months up front and the account doesn’t get checkmark for 60 days (watch for credit card chargebacks) and suspended with no refund if used for scam/spam.”
He also said there should not be any ads on the platform as “the power of corporations to dictate policy is greatly enhanced if Twitter depends on advertising money to survive”.
The crypto market has been mostly buoyant for the past two days, with forerunners bitcoin (BTC-USD) and ethereum (ETH-USD) shrugging their usual correlation with traditional stocks such as the S&P 500 (^GSPC) and Nasdaq (^IXIC).
On Thursday the combined cryptocurrency market cap jumped 2.7% to $1.05tn, according to coingecko data.
Bitcoin rose 0.6% to $20,724 on Thursday.
Ethereum jumped over 21.2% in the past week to $1,556, rising over 2.6% in the past 24 hours.
Watch: Martin Scorsese’s producer sees NFT’s as the future of film finance | The Crypto Mile
Shiba Inu (SHIB) price has increased by over 15% in a week as whales scoop up large amounts of the token. The transactions suggest that there might be a large group of whales stocking up on SHIB.
Whales are heading over to meme coin Shiba Inu as large holders have purchased over $35 million in a day. The transactions have taken place as the price has been increasing considerably.
SHIB is up over 11% in the last 24 hours, with a trading volume that exceeds $617 million.
One whale bought about 119.3 billion SHIB, just as the token was breaking its resistance level. Another one bought a whopping 3.36 trillion SHIB, worth about $33.6 million. Remarkably, these are both new whales and both transactions took place in a span of 24 hours.
Whale piling up SHIB: Etherscan
As a meme coin, Shiba Inu can be unpredictable when it comes to its price. However, there have been some major developments happening in the ecosystem. The market has also been improving generally, with all assets seeing high price bumps over the past few days.
Fellow meme coin DOGE also saw a huge increase in price, with the token increasing by over 21% in value. This bodes well for those who go after meme coins, though the price spike might not last long.
SHIB Burn Rate Also Increases Massively
The increase in SHIB price comes as the burn rate also spikes. The SHIB Burn tracker shows that the burn rate has risen by a massive 1,934% in the last 24 hours. This could be one of the reasons behind the price bump.
SHIB has gone up in price by over 15% in the last week. The token is now $0.00001161, having been at around $0.00001001 seven days ago. The token has now crossed the $6 billion mark for the first time in nearly three weeks.
Users Can Pay for Netflix and Amazon (Indirectly) Using SHIB
There have been reports that SHIB holders may soon be able to pay for Netflix and Amazon services indirectly using SHIB. The payment feature comes thanks to FCF Pay, which says that it will soon support SHIB in its prepaid debit cards.
Users are not paying for Netflix and Amazon directly. Rather, they are paying for the services through FCF Pay’s prepaid debit card and whatever crypto assets it supports.
What the payment services provider does is convert the crypto asset into fiat at the point of purchase. Another move forward in terms of adoption is the fact that real estate brands Pacaso and Condos.com will also accept SHIB via BitPay.
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Shiba Inu (SHIB) recently experienced a sharp increase in burn rate with very few tokens burned. The SHIB Burn tracker shows that over the previous 24 hours, the burn rate of the Shiba Inu increased by 14,267.59%. The increase occurs even though there haven’t been many tokens burned.
Around 14.07 million tokens were transferred to dead wallets in the last 24 hours, according to SHIB Burn. According to SHIB Burn data, the greatest burn transaction on the previous day was about 9.8 million SHIB. Additionally, the day before, only 97,991 tokens were burned.
Shiba Inu Burn Rate Skyrockets Over 14,000% as Price Recovers 4
However, the burn rate has cooled down and is currently standing at 1934.01%. 14,896,832 SHIB has been burned in the last 24 hours as per the updated data.
Shiba Inu Burn Rate Skyrockets Over 14,000% as Price Recovers 5
Shiba Inu price spikes in the last 24 hours
Shiba Inu has gained traction along with the most recent market rebound. According to statistics from CoinMarketCap, SHIB is currently trading at $0.00001157, up 10.8% over the previous day. The market value of SHIB has also surpassed $6 billion for the first time in the previous 17 days.
Shiba Inu which was standing at 14th ranking among other cryptos in terms of global market cap lost it to TRX recently and was standing at 15 till yesterday. However, the recent price spike has pushed it to the 13th rank on the basis of the global market cap.
Whale activity has recently increased in Shiba Inu at a never-before-seen rate. Instead of buying billions of SHIB, whales were purchasing trillions. The whales have also been trading privately and shifting, selling, and buying back SHIB.
These routine actions are now regularly carried out by some unnamed whales. A whale anonymously transferred 3.3 trillion SHIB to another wallet, according to data from Whale Alert.
3,367,037,381,943 SHIB have been dumped by an anonymous wallet, according to Whale Alert statistics. The unknown is the precise nature of the transfer. It’s unclear if the transfer represents a genuine sell-off or merely a typical movement of the token between the whale’s wallets.
The global crypto market cap has finally regained $1 trillion as all the major coins are trading in the green.
The new cryptocurrency Dogeliens has taken the crypto industry by storm but Shiba Inu and XRP are lagging behind in their features like the dog-themed coin.
With the on-going trade in the crypto market, it’ll be interesting to watch cryptocurrencies like Bianace coin, Shiba Inu and Rocketize and their asset value.
Twitter stock (TWTR) rallied a little after Bloomberg report of Elon Musk closing his Twitter deal. The biggest beneficiaries of that news, however, have been Dogecoin (DOGE) and Shiba Inu (SHIB).
The crypto analyst has noted that the number of Dogecoin (DOGE) and the Shiba Inu investors buying Bitgert and Centcex is still growing bigger every day.
The new cryptocurrency Dogeliens has taken the crypto industry by storm but Shiba Inu and XRP are lagging behind in their features like the dog-themed coin.
When it comes to cryptocurrencies, there’s Bitcoin and then there’s everyone else. But Shiba Inu Coin has been in the limelight for several reasons
With the on-going trade in the crypto market, it’ll be interesting to watch cryptocurrencies like Bianace coin, Shiba Inu and Rocketize and their asset value.
Twitter stock (TWTR) rallied a little after Bloomberg report of Elon Musk closing his Twitter deal. The biggest beneficiaries of that news, however, have been Dogecoin (DOGE) and Shiba Inu (SHIB).