Shiba Inu (SHIB) transitions to a ‘more practical asset’ following CoinGate’s integration 

Fintech company CoinGate has integrated memecoin Shiba Inu into the Binance Smart Chain and Polygon blockchains.

#ShibaInu has broadened its utility significantly, now allowing holders to use the cryptocurrency to purchase products from major brands such as @Nike and book services like @Airbnb through #CoinGate.

This integration with both @0xPolygon and @Binance Smart Chain has enhanced… pic.twitter.com/NeEoa9ddTK

— Satoshi Talks (@Satoshi_Talks) May 12, 2024

That will allow holders to buy products from leading brands such as Nike and book services like Airbnb using SHIB tokens.

CoinGate boosts online payments with Shiba Inu

CoinGate offers payment services and wants to bridge traditional finance with cryptocurrencies to facilitate digital token transactions for various services and goods.

The latest integration will enhance Shiba Inu’s versatility in real-world utility, propelling the alt’s mainstream acceptance.

Eyeing beyond the memecoin status

Shiba Inu’s developers have worked to grow the digital coin beyond a memecoin. For instance, the Ethereum L2 scaling solution Shibarium saw massive traction among the crypto community.

Shibarium targets enhanced user experience with quicker transactions and friendly transaction fees.

Shiba Inu has displayed impressive performance on various platforms, including Robinhood, confirming an increase of individuals interested in the memecoin.

Further, the new Shiba Inu magazine revitalized the SHIB community with multiple bullish cues. For instance, SHIB developers raised $12 million to fund a new Layer2 network.

Significant figures, including Animoca Brands, Mechanism Capital, and Polygon Ventures, participated in the fundraising, reflecting surging trust in Shiba Inu by savvy market players.

These developments have kept the altcoin afloat as the overall market moved with inheritability.

Data shows a surge in SHIB’s profitable wallets, underscoring increasing confidence in Shiba Inu’s long-term potential.

Shiba Inu (SHIB) has demonstrated resilience despite recent market downturns. Data reveals that roughly over 700 trillion SHIB tokens held by more than 650,000 wallet addresses remain profitable, reflecting steadfast confidence among holders in the token’s long-term value.

— cryptolover (@sujeetkumar_) May 4, 2024

SHIB price outlook

Shiba Inu changed hands at $0.00002177 during this publication, down nearly 4% in the past day.

SHIB 1D Chart on Coinmarketcap

Meanwhile, the alt’s price has consolidated at the $0.00002379 – $0.00002227 range over the past week.

An upside breakout might yield a 13% surge to $0.00002558, whereas selling momentum could plunge the asset to $0.00002080, an 8% dip from current levels.

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