Shiba Inu’s Growth is Highly Reliant on SHIB as a Payment! Why?

Shiba Inu is making progress in payments, scaling, and the metaverse.

While its long-term momentum remains weak, Shiba Inu (SHIB) continues to climb in popularity thanks to its adoption as a payment option by companies like Gucci and AMC Entertainment. But how do companies accepting Shiba Inu as payment will help the memecoin to grow? As mentioned, AMC now accepts the token. And late last year, a deal with digital-payment app Flexa offered Shiba Inu a huge boost in this area. Previously, only a few hundred merchants accepted Shiba Inu. Through the Flexa agreement, you can pay with Shiba Inu at more than 40,000 merchants, including physical stores, across the U.S. These include major retailers that use the Flexa system, such as Bed Bath & Beyond and Nordstrom, according to an article on Forkast.

Will this affect Shiba Inu's price?

Yes. Using Shiba Inu as a payment gateway will definitely boost its price. But there are concerns about its extreme volatility. Given that no matter what provisions are given to Shiba Inu, its price falls drastically a few days later. In 2021, Shiba Inu was one of the most popular cryptocurrencies that generated major profits for its investors. But after the crypto market meltdown by the end of 2021, major cryptocurrencies including Bitcoin, Ethereum, and Solana faced enormous losses. And recent Terra Luna crash gave another reason for the investors to be doubtful about all cryptocurrencies including Shiba Inu.

How Shiba Inu is planning to grow?

At present, we all know that uses of Shiba Inu are limited. The token is used for payment, staking, or trading and it is not a blockchain where you can build decentralized applications (dApps). It's simply a token built on Ethereum. But does that mean Shiba Inu will stop growing or making efforts to grow? The answer is 'NO'. Shiba Inu is working on a layer-2 solution that would offer it independence from Ethereum and the congestion and costs of using that blockchain. Shiba Inu is also set to launch its own metaverse.

Companies that are Using Shiba Inu as a Payment Gateway

Newegg

Newegg announced it accepts SHIB in style. The one-stop-shop for computers and electronics used a massive 40,000-square-foot billboard in downtown Los Angeles to announce it would start accepting Shiba Inu Coin as payment.

Twitch

Twitch is an American video live streaming service that focuses on video game live streaming, including broadcasts of esports competitions, in addition to offering music broadcasts, creative content, and "in real life" streams. On Twitch you can support your favorite streamers with SHIB.

David SW

It's time to buy the most luxurious watches (the dream of every child) at reasonable prices online with SHIB. Who could have thought that memecoin like Shiba Inu will help many people to fulfill their dream of wearing David SW?

HOSTKEY

To choose the best hosting solution for your needs, you should assess several parameters: availability, reliability and service security, as well as the quality of support. HOSTKEY is the solution for all your problems and when it comes to expenses, the company accepts Shiba Inu Coin in exchange for its awesome dedicated server hosting and private web hosting services.

Carolina Hurricanes

The Carolina Hurricanes NHL team is one of the latest professional sports organizations to embrace crypto. Shop their pro shop and use SHIB to buy your Canes gear. Additional pro teams that accept SHIB include The Sacramento Kings (NBA) and Dallas Mavericks (NBA).