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The cryptocurrency market continues to see notable developments. A Lithuania-based fintech company, CoinGate, has successfully increased the utility of Shiba Inu (SHIB) by integrating it with the Polygon and Binance Smart Chain (BSC) ecosystems. This strategic move enables SHIB holders to purchase products from major brands like Nike and make reservations with services like Airbnb.
CoinGate and SHIB Integration
Providing payment services, CoinGate aims to facilitate crypto asset transactions for goods and services, acting as a bridge between crypto and traditional finance. Including SHIB tokens on these platforms increases accessibility and offers SHIB holders numerous opportunities to engage in real-world transactions. The CoinGate team shared the following statement:
“Shibarmy; use your SHIB to make reservations on Airbnb, buy the latest games from Steam and PS5, refresh your wardrobe with Nike and Zalando, and more.”
Moreover, Shiba Inu is not only expanding its transactional use. It is striving to grow beyond its memecoin origins. The launch of Shibarium, an Ethereum Layer-2 scaling solution, represents a significant step forward in enhancing blockchain efficiency. This update, completed earlier this month, includes a major hard fork expected to lead to faster transactions and more stable transaction fees, thus improving the overall user experience.
What’s Next for SHIB?
In April, the Shiba Inu team also made headlines by raising $12 million to develop a new Layer-3 blockchain network. This fundraising event received significant contributions from major investors including Polygon Ventures, Mechanism Capital, and Animoca Brands, underscoring the increasing confidence in SHIB’s potential.
Despite these developments, the price of SHIB remains in a consolidation phase, trading between $0.00002379 and $0.00002227 since May 7. A breakout could push the price to $0.00002558, indicating an increase of over 13% from the current market price. Conversely, selling pressure could drop the price to about $0.00002080, approximately 8% below the current level.
