The crypto payment service provider, BitPay, has added Shiba Inu to its list of supported cryptocurrencies. The announcement comes after Newegg and AMC announced a partnership with the firm to bring SHIB payments to their respective platforms.
BitPay Now Supports Shiba Inu Payments
The crypto payment company has announced via a blog post on their website that the platform now supports SHIB payments.
BitPay is a platform that allows users to store and pay using the crypto of their choice. It’s one of the most popular crypto payment service providers in the world, and a wide range of merchants currently use it for accepting digital currency payments.
Earlier in the year, AMC theatres announced that the cinema chain will soon begin accepting Shiba Inu in partnership with the payments provider.
The AMC CEO revealed that he personally asked BitPay to add the coin. As such, BitPay accepting SHIB became only a matter of time.
“Attention SHIBArmy! Shiba Inu (SHIB) joins the lineup of coins now available at BitPay,” said the firm in the announcement. “Now you can buy, store, swap and spend with this Ethereum ERC-20 token directly in the BitPay app.”
Late last month, the tech-focused retailer giant, Newegg, also announced that it will start accepting SHIB in “early December.” Naturally, the ecommerce company is also using the platform to bring the crypto as a payment option its customers.
Following the official announcement by BitPay, Newegg also quickly confirmed on Twitter that users can immediately start paying on the platform using Shiba Inu.
We're now accepting $SHIB. Just select @BitPay as your payment when checking out using a PC. @Shibtoken @ShytoshiKusama #ShibArmy #Shib #friendshib #newegg
Shop with SHIB https://t.co/OvXfiwhhnt pic.twitter.com/n8LeOK3Pa4— Newegg (@Newegg) December 9, 2021
State Of The SHIB Market
In recent months, Shiba Inu has started to gain some ground in terms of mainstream adoption as the AMC and Newegg news from above already highlights.
Popular cryptocurrency exchanges like Gemini and BitStamp also recently started listing the memecoin on their platforms.
However, the community is yet to convince Robinhood to add Shiba Inu to the service. A petition regarding the matter has been running for a while now, and has so far obtained the signature of around 546k SHIB supporters.
Related Reading | Travel Booking Site Travala Now Accepts Shiba Inu Payments
At the time of writing, SHIB’s price floats around $0.00003537, down 18% in the last seven days. Over the past month, the memecoin has accumulated 35% in losses.
Earlier, the coin found its way into the the top ten cryptocurrency list, but has recently dropped out of it. The crypto’s market cap now stands at 13th.
Related Reading | Majority Of Shiba Inu (SHIB) Holders Remain In Profit Despite Downtrend
Here is a chart that shows the trend in the price of Shiba Inu over the last five days:
SHIB's price has mostly moved sideways in the last few days | Source: SHIBUSD on TradingView
Featured image from BitPay.com, chart from TradingView.com