Shiba Inu (SHIB) coin continues to struggle despite CoinGate listing

Shiba Inu (SHIB) coin continues to struggle despite CoinGate listing
CoinGate has listed Shiba Inu (SHIB) on its platform. Credit: CoinGate

Key Takeaways

  • Earlier this week, popular payment gateway CoinGate listed Shiba Inu (SHIB) coin on its platform
  • Despite the listing, SHIBA token continues to struggle on the charts
  • A new whale excited the Shib Army when he bought 171 billion SHIB with just over $8000K

YEREVAN (CoinChapter.com) — Popular meme-inspired cryptocurrency Shiba Inu (SHIB) coin continues to be down despite the latest positive developments. Thanks to the resolve of the ShibArmy, the token has increased its integration on various platforms. The cryptocurrency that has been making news due to its massive rallies currently trades over 20% below its last green candle on Nov 15. 

CoinGate, a major crypto payments service, announced the integration of Shiba Inu (SHIB) on its platform. Now 500 merchants can accept SHIB.
Shiba Inu’s (SHIB) price continues to be low this week. Credit: CoinGecko

While the overall cryptocurrency market is down following Bitcoin’s mega dip, SHIB price has failed to capitalize on the latest partnerships with exchanges and digital wallets.

Recommended: Shiba Inu price eyes bullish triangle breakout after whale buys 171B SHIB tokens

Shiba Inu (SHIB)coin makes it on CoinGate

On 17 Nov, CoinGate, a major crypto payments service, announced the integration of Shiba Inu (SHIB) on its platform. The official Twitter handle of the payment gateway broke the news, throwing the fans of the token into a frenzy. 

According to its official website, anyone owning the digital token can now spend it on CoinGate. Those willing to have a piece of the action can acquire SHIB coin from the platform at a 1% rate.  

In what comes as an exciting opportunity for SHIBA Inu investors, the CoinGate integration opens the doors to 5000 potential merchants using the platform. Merchants registered on CoinGate can now opt to accept Shiba Inu coin as a means of payment.

Not only that, but the platform also announced gift cards with SHIB will be available through CoinGate’s store. To welcome Shiba Inu on the platform, the company even offers a 6% cashback to those buying gift cards with the SHIBA.

CoinGate offers 6% cashback to all those buying gift cards using SHIB
CoinGate offers 6% cashback to all those buying gift cards using SHIB

“We believe that every currency can be a paying currency, therefore integrating Shiba Inu is a fascinating step for our community,” 

CoinGate stated on the website.

Recommended: Another Shiba Inu rally expected as SHIB forms an Oct-like bull flag pattern

Samsung-backed ZenGo adds Shiba Inu (SHIB) token

One day before CoinGate announced it has added SHIB token to its offerings, fans received another piece of great news. The popular crypto wallet backed by Samsung, ZenGo also added the dog-themed meme token on its platform. 

Following the integration, the platform also announced it would donate $1 every retweet to an animal charity. 

According to ZenGo, one of the important reasons for the integration is the Shib’s over 2 Million Twitter followers. The Twitter popularity of SHIB is “nearly double the followers as Solana and Cardano, and on its way to outpacing Dogecoin’s 2.5 million,” the website claims.

Recommended: 60% Boost Possible For Shiba Inu Despite SHIB’s Sour Week

A new whale looking to become a SHIB billionaire 

Recently, one Shiba Inu whale turned $8,000 investment into $5.7 billion in one year. Since then, imaginations are flying high. People now see SHIB token as their opportunity to become rich overnight. 

One such hopeful whale purchased 171 billion Shiba Inu tokens this week. The new investor has also parted with a little over $800, just like now the billionaire whale.

However, despite the latest exciting developments, the price of SHIB coin is still 48% below its all-time-high (ATH) of Oct 28, 2021.

However, once the bulls wake up to chase away the bears, SHIBA can make a massive run above its ATH. For now, the magic hasn’t been working. 

How useful was this post?

Click on a star to rate it!

Related Articles

Our Partners

SwapCoin.com RapidCoin.com ChangeNOW.com Paybis.com