CoinGate, a fintech company based in Lithuania, has boosted the utility of Shiba Inu (SHIB) by integrating it with Polygon and Binance Smart Chain (BSC).
This strategic move allows SHIB holders to purchase products from major brands like Nike and book services like Airbnb.
Shiba Inu Price Consolidates Despite Growing Adoption
The payment gateway CoinGate acts as a link between crypto and traditional finance, facilitating digital asset transactions for goods and services. The inclusion of SHIB tokens on these platforms enhances accessibility and presents numerous opportunities for SHIB holders to participate in real-world transactions.
“Shibarmy, use your SHIB to book Airbnb, grab the latest games from Steam & PS5, refresh your wardrobe with Nike & Zalando and more,” CoinGate wrote.
Read more: How To Buy Shiba Inu (SHIB) and Everything You Need To Know
Moreover, Shiba Inu is not just expanding its transactional use. It is trying to evolve beyond its meme coin origins. The launch of Shibarium, an Ethereum layer-2 scaling solution, represents a significant step forward in improving blockchain efficiency.
This update includes a major hard fork completed earlier this month, which is expected to result in faster transactions and more stable gas fees, enhancing the overall user experience.
In April, the Shiba Inu team also made headlines by raising $12 million to develop a new layer-3 blockchain. This fundraising attracted significant contributions from notable investors, including Polygon Ventures, Mechanism Capital, and Animoca Brands, highlighting the growing confidence in SHIB’s potential.
Despite these advancements, the price of SHIB has been consolidating. Since May 7, it has fluctuated between $0.00002379 and $0.00002227. A breakout could propel the price to $0.00002558, marking an increase of over 13% from current market price.
Read more: Shiba Inu (SHIB) Price Prediction 2024/2025/2030
Conversely, a breakdown could see the price drop to approximately $0.00002080, nearly 8% below the current level.
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