Shiba Inu: Swiss Company Accepts SHIB, Analyst Suggests Price to Moon

Vignesh Karunanidhi
Shiba Inu: Swiss Company Accepts SHIB, Analyst Suggests Price to Moon
Source: Unsplash

Shiba Inu has been harnessing attention globally with its developments and growth. Analysts also suggest that the SHIB price will skyrocket.

Shiba Inu has been serving a buffet in 2022 with its partnerships, adoption, and multiple listings. The most significant announcement is notably the SHIB metaverse, where a reported $20 million has been spent by the SHIB community to purchase SHIB land.

Analyst suggests that SHIB price will skyrocket

Analysts suggest a bullish vision as 1.2 billion Shiba Inu tokens were burned over the last week. It also included a single burn transaction of over 159 million SHIB. In a total of 84 transactions, 1.2 billion SHIB has been reportedly burned b as per the data from Shibburn.

The SHIB burn rate has increased by over 539.71% in the last 24 hours. The implementation of a large amount of SHIB burn will eventually reduce the circulating supply, driving the demand and buying pressure.

‘Kingthies,’ a crypto analyst suggested that SHIB, with its strong fundamentals, could soon breakout.

A whale gulped 50 billion Shiba Inu

The whale who goes by the title “BlueWhale0073” had harnessed 1.17 trillion SHIB earlier this month. The same whale has amassed 50,296,290,794 SHIB as per the reports by WhaleStats.

The constant whale accumulation and SHIB burn are the main reasons the analysts suggest that could rally the meme coin.

Shiba expands to Switzerland

Shibaxanders reported that a multinational company in Switzerland called the Fidinam now accepts SHIB as a payment.

Fidinam has a widespread presence across Austria, Germany, Belgium, the United Kingdom, and the US.

BitPay extended its support to SHIB in 2021 by allowing its customers to spend and use SHIB through its app. In a recent collaboration, Porsche Towson added an option to pay for its cars with Shiba Inu and various other cryptocurrencies.