Shiba Inu investors would not be happy with its current market standings. Over the past 24-hours, Avalanche jumped over the meme token at 11th rankings. Similarly, its market cap also increased up to $28.3 billion, in comparison to SHIB’s $25.5 billion.
While Shiba’s popularity might be taking a minor hit, several organizations are currently adopting the digital asset. At press time, Shiba remained between the range of $0.000043-$0.000047.
Shiba Inu and Newegg; union in the making?
According to a recent tweet, Electronics retailer Newegg might be looking to add Shiba Inu to their payment system.
The PC components and electronics marketplace organization tweeted,
As observed, the organization reached out to the Shiba team for certain queries, leading the spree of speculations in the industry. It is important to note that Newegg already supports payments in Bitcoin, Ether, Litecoin, Bitcoin Cash, and the original meme token, Dogecoin. With AMC Theatres, accepting SHIB tokens as a payments method, other marketplaces might have received a boost of confidence to go forward with their own Shiba Inu ventures.
Moreover, GiftChill, one of the leading E-gift cards platform announced the acceptance of Shiba Inu as a payment method. Shib is currently one of the most notable digital assets on Ethereum. According to the announcement, there were certain reasons for listing SHIB.
For instance, one of the key benefits of adding SHIB remains its low transaction fee. In addition, most of Shiba Inu’s transaction methods will facilitate international transfers. Therefore, GiftChill possibly took this chance to add Shiba at the earliest.