Shiba Inu shines amid bear market; Adoption in full spring

Sahana Kiran
Shiba Inu
Source – Unsplash

The bear market has been harsh on the entire crypto-verse. Several platforms have taken a step back from listing, embracing, or endorsing cryptocurrencies with the market painted in red. However, the popular ones do not have to worry about the bear market. For instance, Shiba Inu [SHIB] attained increased popularity as its adoption rate took off this year. Despite its dainty price, SHIB continues to reign the market in terms of popularity. Coinbase’s latest addition is proof of the same.

The extensive use of Shiba Inu and its demand forced various platforms to onboard the cryptocurrency, and its value nor its novelty hindered this. Leading crypto exchange, Coinbase decided to include SHIB and Apecoin [APE] into its Coinbase Commerce arena.

In a recent blog post, the exchange noted that merchants would now be able to receive payments for the services they provide in Shiba Inu, Apecoin, and other assets. The platform entails a total of seven cryptocurrencies including Bitcoin [BTC], Ethereum [ETH], USD Coin [USDC], Bitcoin Cash [BCH], Dogecoin [DOGE], DAI as well as Tether [USDT].

With its latest addition, merchants employing the platform could accept crypto that they like while turning off the ones they don’t. However, the volatile market forced Coinbase to convert payments into fiat for merchants to amass the exact amount set.

Shiba Inu and Coinbase to benefit

Despite being relatively new, Shiba Inu managed to veer into almost every sector that accepts crypto. The increased adoption of SHIB would further boost Coinbase Commerce. Shiba Inu, in turn, would be giving its community a reliable forum to carry out transactions of this sort.


The bear market often puts a wall between cryptocurrencies and their adoption. However, the fact that Shiba Inu was down by 11 percent over the last couple of hours did not bother Coinbase. At press time, SHIB was trading for $0.000009816.