Shiba Inu (SHIB) achieves a milestone as the first public company in the US starts accepting SHIB as a payment method. Could this help boost its price in the coming days?
This development strongly indicates bullish momentum for Shiba Inu, showcasing its increasing utility and acceptance in the market.
But the question remains: will this truly aid SHIB’s price recovery from the bearish trend, or should investors focus on the new SHIB alternative called Shiba Shootout currently in the presale phase, having raised over half a million dollars?
Currently, the overall cryptocurrency market cap is seeing a slight downturn, with a 3.55% decrease in the past 24 hours. The Fear and Greed Index stands at a neutral 48, showing some positive movement, though full market recovery remains elusive.
In the realm of meme coins, Shiba Inu remains a significant player. It now holds the position of the second-largest meme coin by market cap, trailing Dogecoin by just $7 billion. With a market cap exceeding $8 billion, Shiba Inu ranks among the top 13 cryptocurrencies.
Its 24-hour trading volume surpasses $515 million, placing it among the top 26 traded coins, highlighting strong trading activity and investor interest.
Exciting developments come directly from the official Shiba Inu X account: Kronos Advanced Technologies has become the first public company to accept SHIB for payments, marking a monumental milestone for the SHIB community.
In addition to this adoption, Kronos is offering a 10% discount for customers who opt to pay with SHIB. This milestone holds significance for several reasons. It underscores the growing utility and future potential of cryptocurrencies, reminiscent of Dogecoin’s temporary acceptance by Tesla for purchases.
Similarly, Kronos’ decision to offer a discount for SHIB payments reflects their bullish outlook on Shiba Inu, incentivizing customers to use SHIB over traditional currency. Despite this positive news, Shiba Inu’s price dropped 5% in the past 24 hours, now trading at $0.000014.
However, Shiba Inu’s technical indicators suggest potential buying opportunities despite recent price fluctuations. Short-term indicators advise caution, yet the long-term outlook remains promising.
Historical performance during bullish cycles suggests Shiba Inu has the potential to surpass previous all-time highs. The community continues to expand, with over 3.8 million followers on X, and positive news continues to emerge, including SHIB’s acceptance by the first public company in the US for payments.
Big news #SHIBARMY! Kronos Advanced Technologies becomes the FIRST public company to accept $SHIB for payments! ➡️ https://t.co/6bhycVER6v
— Shib (@Shibtoken) July 2, 2024
If you’re a fan of Shiba Inu, you’ll be intrigued by the new meme coin we’re about to discuss. Shiba Shootout (SHIBASHOOT) is generating significant buzz with its presale raising over $500k.
Potential investors in Shiba Shootout face a ticking clock, as the presale price increases progressively. Currently priced at $0.0195, it’s set to rise in eight days. Shiba Shootout distinguishes itself with a Wild West theme and enticing features that appeal to investors.
One standout feature is its high staking rewards for holding and staking $SHIBASHOOT tokens, offering over 2,000% in rewards through its Cactus Staking mechanism, where staked tokens contribute to a growing cactus.
Stake your Shiba Showdown tokens on a cactus in our digital desert with 'Cactus Staking'! 🌵
Earn more as you #stake longer and watch your rewards grow! 🚀💸 pic.twitter.com/JST9TXB0RM
— shibashootout (@shibashootout) June 26, 2024
The community interaction aspect is another highlight, fostering engagement through activities such as Posse Rewards, Campfire Stories, and Token Governance Roundups, crucial for building a strong cryptocurrency community.
Furthermore, Shiba Shootout utilizes a governance system that enables token holders to vote on important project decisions, ensuring a democratic approach to managing the project.
Additionally, the project features Lucky Lasso Lotteries, providing users with chances to win crypto prizes. Investors can use the ‘Savings Saddlebags’ code to automatically set aside a portion of tokens as locked savings.
Amid Shiba Inu’s struggle to reclaim previous yearly highs, Shiba Shootout emerges as a potential alternative. With its compelling utility, innovative features, and strong tokenomics, $SHIBASHOOT could be poised to become the next big meme coin.
To take part in the $SHIBASHOOT token presale, visit shibashootout.com.
The post This Bullish Shiba Inu News May Help The SHIB Price Recover appeared first on ReadWrite.
