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Massive Shiba Inu Burn Coming Soon: Details

Lele Jima
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Massive Shiba Inu Burn Coming Soon: Details

A massive Shiba Inu burn could occur today as popular community member “1c Dream” prepares to incinerate 100 million SHIB tokens.

According to a series of X posts, the hefty SHIB burn is slated to occur today, June 13, at 18:00 EST (22:00 UTC). Famous Shiba Inu enthusiast Casey Stubbs confirmed the development, claiming the burn will be a live event.  

Burns to Occur Live 

At the event, 1c Dream confirmed that he would demonstrate the transfer of the 100M SHIB to the Shiba Inu dead wallet in real time, permanently removing the tokens from circulation. In the meantime, the user encouraged interested parties to join a Telegram channel for more updates. 

With a unit of SHIB priced at $0.00002153, the USD equivalent of the 100M Shiba Inu tokens is worth $2,153. 

Shiba Inu Burn Rate Could Spike Massively 

The upcoming incineration is expected to bolster Shiba Inu’s burn rate. Data from Shibburn shows that Shiba Inu’s burn rate is down 93.67% over the past 24 hours, as only 14.78M SHIB, worth $318, were destroyed within this timeframe. 

Moreover, the forthcoming transaction will mark one of the most significant recent individual burns for Shiba Inu, as burns have witnessed a substantial decline in volume in the past few weeks.

As reported earlier, the community burned 271,470 SHIB and 7.9M tokens on June 10 and 11, respectively. However, the burn campaign gained steam yesterday, witnessing the incineration of 232M SHIB in multiple transactions, including a transaction containing over 225M tokens.  

Since Shiba Inu has recorded only 14.78M SHIB, 1c Dream’s upcoming burn could push the total tokens destroyed today to over 100M. 

Significance of Upcoming Burn

Organizing a live event to burn SHIB could inspire other community members to participate in the ongoing campaign to reduce Shiba Inu’s hefty circulating supply via burns. This could bolster the asset’s demand and price in the long run.

Out of a total supply of 1 quadrillion, over 410.72 trillion have been burned, leaving the cryptocurrency with a circulating supply of 589.27 trillion, still representing a massive mountain to climb.

Flare Looks to Integrate Shiba Inu Price Feed

Sam Wisdom Raphael
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Flare Looks to Integrate Shiba Inu Price Feed

The Flare community is looking to integrate Shiba Inu (SHIB) price feeds to the FTSO ecosystem, in addition to 18 other assets, through governance voting.

This move, which introduces a new Flare Improvement Protocol, follows the successful implementation of a similar proposal by the Songbird community, building on a growing trend of integrating popular cryptocurrencies into the Flare Time Series Oracle (FTSO) system. 

For the uninitiated, The Flare Time Series Oracle is a decentralized system that provides accurate price data to the Flare Network. It aggregates information from multiple sources and is essential for smart contracts and dApps.

Criteria for Inclusion

The Flare Foundation, the author of the FIP.08, has outlined a plan to expand the FTSO system’s data feeds. The proposal, drafted on May 28, seeks to add 19 new crypto price pairs to the existing list of 18. This expansion is possible through the FTSO Scaling protocol, introduced through a previous proposal, FIP.06.

The proposal has two main objectives. First, it aims to include 19 additional assets, including SHIB, to the current FTSO data feeds. These new feeds involve a range of popular assets including but not limited to DAI, TON, ATOM, LINK, TRX, and Solana meme coins BONK and WIF. The selections were based on community surveys, market rankings, and recent launches on major exchanges.

Secondly, FIP.08 outlines a process for including new data feeds in the future. This process includes automatically monitoring market performance and looking at requests from the community. Such a process would ensure the system remains responsive to the crypto market. 

Per the proposal, the system will automatically include tokens with noteworthy market performance based on specific criteria. These criteria involve a 24-hour trading volume amounting to $10 million in the first three days post-launch on any of the five leading crypto exchanges: UPbit, Coinbase, Binance, OKX and Bybit.

To ensure transparency, the Flare Foundation will publicize any new token on X and select FTSO groups. These tokens will be integrated into the FTSO system one week later, bypassing the need for a vote.

Voting Period for Shiba Inu Inclusion 

The voting details for FIP.08 have been outlined, with the notice period from June 3 to 9, and the voting period is between June 12 and 18. According to the Foundation, a simple majority is required to pass the proposal, signaling a strong community-driven approach to governance within the Flare network.

This latest development is another testament of Shiba Inu’s recognition in the broader crypto ecosystem. The proposal confirmed that SHIB’s inclusion was due to its position among the top 25 largest assets on CoinMarketCap.

Notably, this inclusion would help bolster Shiba Inu’s visibility to a wider audience through the presentation of reliable price data. The move comes shortly after Atomic Wallet added support for Shiba Inu ecosystem token BONE.

Cardano Founder Questions if Elon Musk Holds 20% of Dogecoin Supply

Sam Wisdom Raphael
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Cardano Founder Questions if Elon Musk Holds 20% of Dogecoin Supply

Cardano founder Charles Hoskinson lightheartedly asked if Tesla CEO and American businessman Elon Musk holds 20% of the Dogecoin supply.

Hoskinson teased this in a recent interview with The Thinking Crypto podcast on YouTube, in which he and host Tony Edward discussed multiple developments surrounding Cardano, including the upcoming Chang hard fork, the Midnight airdrop, memecoins, developer activity and regulatory issues with the U.S. SEC and CFTC.

In one section of the interview, Edward noted that proponents were eager to know if IOG had any potential partnerships with Elon Musk. According to the podcast host, questions on this bordered on whether there could be a partnership that allows Musk leverage the midnight sidechain for upcoming developments on SpaceX, Tesla or X.

Possibility of a Cardano and Musk Partnership 

In response, Hoskinson confirmed that there is no such potential partnership. However, the Cardano founder emphasized that the work at Cardano does overlap in some areas with what Musk does. He noted that they have extended a hand of partnership to work on several things, including addressing the bot issue on X.

Nonetheless, Hoskinson stressed that each time they reach out, there is radio silence at Musk’s end. He expressed confusion as to why the X Corps. CTO has failed to acknowledge Cardano despite its prominence, which has seen Argentina’s crypto-friendly president Javier Milei repost Cardano-related reports.

He praised Musk’s business prowess and his thirst for innovation. According to Hoskinson, he leverages X for community engagements and, as a result, would like to see the social platform succeed, suggesting that Cardano would be ready to assist in enforcing this success if it came to that.

Nonetheless, despite Cardano and Hoskinson’s influence in the crypto scene, Musk has never mentioned them. Charles Hoskinson suggested that this could be due to people in his cycle advising him against interacting with the Cardano project or Hoskinson himself.

Hoskinson Highlights Musk’s Dogecoin Enthusiasm

Hoskinson’s confusion is further bolstered by the fact that Musk is well aware of the crypto community, and should have heard of Cardano at some point. The Ethereum co-founder called attention to Musk’s acknowledgement of Dogecoin (DOGE) and his relationship with Lex Friedman, a mutual friend of theirs.

Musk, who has been a major Dogecoin proponent, is also part of the crypto community, occasionally commenting on community developments. However, his focus has been on DOGE. The previous Dogecoin upsurge, which led to the ATH of $0.73 in May 2021, was partly due to Musk’s promotion of the meme coin.

Commenting on the relentless promotion, Hoskinson asked: “Why does he have this bizarre fetish for Dogecoin?” He questioned if this enthusiasm is due to Musk owning 20% of the Dogecoin supply or if it is merely as a result of an affinity for the DOGE logo, which features late meme sensation Kabosu. 

Other individuals have also pondered on the reason behind Musk’s enthusiasm toward Dogecoin. Some Dogecoin investors slapped Musk with a $258 billion lawsuit in 2022 for losses incurred after they invested due to Musk’s promotion. The Tesla chief stressed that he never asked anyone to invest in crypto.

Notably, owning 20% of the current Dogecoin circulating supply would translate to a bag of 28.93 billion DOGE tokens, which amounts to $4.17 billion against prevailing rates. 

However, it bears mentioning that this was just an arbitrary figure from Hoskinson in a mere attempt at humor. Musk confirmed in January that he still owns a significant amount of Dogecoin, but failed to divulge a specific figure.

Solana (SOL) Chart Pattern Suggests Potential Massive Price Explosion to $280

Abdulkarim Abdulwahab
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0
Solana (SOL) Chart Pattern Suggests Potential Massive Price Explosion to $280

Market analyst Ali Martinez projects a 53% price rebound for Solana (SOL), potentially driving the asset to $280 amid a symmetrical triangle formation.

The ongoing market downturn has sunk Solana by over 13% in the past week. However, the asset has now shown signs of a major price movement. Analyst Martinez recently called attention to Solana’s potential bullish breakout in a recent update on X. According to the analyst, SOL is gearing for a 53% uptick in its market price.

In the analysis, Martinez identified critical support and resistance levels at $143 and $178, respectively. Martinez stated these thresholds are essential for predicting whether Solana will undergo a robust price ascent or face a downturn.

Solana Forms Symmetrical Triangle

Notably, the chart accompanying Martinez’s analysis indicated that Solana’s candlestick patterns over the last two months have formed a symmetrical triangle, typically recognized as a bullish breakout signal.

In mid-March 2024, Solana’s price entered this symmetrical triangle formation amid a surge from around $101 to nearly $210. After multiple rejections at the $210 level, the price retraced and found support around $141, coinciding with the 0.382 Fibonacci level.

Subsequently, Solana’s price surged again, meeting resistance around the 0.786 Fibonacci level at $185. Upon reaching this level in early June 2024, Solana dipped back to $157.

Currently, Solana’s price hovers near $150.95, marginally above the 0.5 Fibonacci level at $143. This area is critical as it aligns with the lower boundary of the symmetrical triangle, posing a potential make-or-break scenario for Solana.

Solana Chart
Solana Chart Symmetrical Triangle formation | TradingView

Potential Breakout or Breakdown?

Martinez’s insights suggest that the resolution of this symmetrical triangle could lead to a decisive 53% price movement. If Solana’s price sustains above the support level at $143, it may pave the way for a rebound toward the $178 resistance.

This critical zone, if breached, could confirm Martinez’s projection of an upward trajectory. Estimating a 53% increase as per Martinez’s analysis, the SOL token could potentially reach the $280 mark.

Conversely, a drop below the crucial $143 support could signal further declines, with deeper Fibonacci levels likely coming into play. Should this move occur, an estimate of the $67 region could be seen.

SOL Indicators

On the daily chart, the RSI indicator moves downward at 41.50, close to the oversold region at 35. This suggests that the SOL token may be nearing a potential buying opportunity around the $143 support level. If this occurs, a rebound toward $178 could be imminent.

Solana Chart TradingView
Solana Chart TradingView

Meanwhile, the Chaikin Money Flow Index is trending below the zero line at -0.13. This indicates a decrease in the influx of money into the Solana market, potentially leading to further downward pressure on the SOL token price.

Ripple Expands Alliance with UK’s First Registered Exchange to Tokenize Millions in RWAs on XRPL

Abdulkarim Abdulwahab
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0
Ripple Expands Alliance with UK’s First Registered Exchange to Tokenize Millions in RWAs on XRPL

Ripple has moved to expand its existing partnership with Archax, the first registered crypto exchange and custodian in the United Kingdom.

The goal of this extension is to bring a significant amount of tokenized real-world assets (RWAs) to the XRP Ledger (XRPL) by next year. Specifically, Ripple and Archax are targeting in the range of hundreds of millions of dollars.

Ripple announced this latest development at the 2024 XRP Ledger Apex conference, where CEO Brad Garlinghouse and CTO David Schwartz were in attendance. According to the announcement, the move further establishes XRPL as a prominent network for RWA tokenization.

Ripple X Archax Extended to Promote XRPL for RWA Tokenization

Notably, the partnership between Ripple and Archax began in 2022. At the time, Archax collaborated with Metaco, a company later acquired by Ripple in 2023, to provide digital asset custody services to its clients.

Archax is renowned for partnering with top financial institutions to promote RWA tokenization. Under this renewed alliance, the UK-regulated firm will leverage the XRPL to tokenize assets for these institutions.

XRPL, a layer-1 public blockchain, boasts built-in capabilities such as tokenization, a native DEX, and compliance features. These characteristics make XRPL well-suited for powering institutional-grade financial use cases.

Ripple CEO Reacts

Ripple CEO Brad Garlinghouse expressed his enthusiasm for the expanded partnership. He stated that financial institutions are increasingly adopting L1 blockchains like XRPL to tokenize their RWAs through regulated entities like Archax. Garlinghouse anticipates this trend will grow exponentially in the future.

 

Graham Rodford, CEO of Archax, believes that the industry has reached a tipping point for mainstream adoption of crypto in real-world use cases. He emphasized the utility of RWA tokenization by citing operational efficiency, liquid market access, and crypto’s inherent transparency. 

Rodford disclosed that Archax has already tokenized assets such as debt instruments, equities, and money market funds.

Being the only FCA-regulated digital securities exchange, Archax holds a unique position to provide access to DeFi benefits via RWA tokenization. This is all underpinned by the capabilities and strength of the XRP Ledger.

At Ripple’s 2023 Swell conference, Rodford boldly predicted that the XRPL will process $50 trillion in tokenized value by 2025. However, prominent community figures have dismissed this projection.

RippleX, the development arm of Ripple, also formed a partnership with tokenization company Zoniqx to bring multi-asset tokenization to the XRPL. Last October, Schwartz projected that the XRPL will become the go-to platform for tokenization in the next one a half years.

Community Reacts

Ripple’s latest tokenization announcement has captured significant attention from XRP enthusiasts as its blockchain is the center of engagement.

“This will result in increased TVL for the XRPL—an important metric,” remarked XRP community pundit Moon Lambo.

Here’s the Only Reason Shiba Inu Cannot Surge to $0.01 or $0.001

Sam Wisdom Raphael
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0
Here’s the Only Reason Shiba Inu Cannot Surge to $0.01 or $0.001

Shiba Inu might never reach the much anticipated $0.01 or $0.001 price thresholds due to its substantial circulating supply sitting above 589 trillion tokens.

The crypto market features multiple opportunities that could allow investors transform modest investments into fortunes. Shiba Inu is one of the assets that presented this opportunity in the past, yielding $1 million with a meager capital of $12 in 2021. 

Analysts Set $0.001 and $0.01 Targets

SHIB was able to achieve this feat amid the dramatic surge to the all-time high of $0.00008845 in October 2021. However, following this spike, Shiba Inu recorded a massive correction that saw it give up most of the gains. Nonetheless, with a recovery campaign on the horizon, market watchers and investors expect a repetition of the 2021 uptrend.

Shiba Inu recently spiked 370% to $0.000045, but witnessed a retracement. Now struggling to hold above pivotal support levels, SHIB looks to maintain some of these early gains. As investors anticipate an imminent price surge, analysts have set multiple targets, with the $0.001 and $0.01 featuring prominently.

Notable Bitcoin investor and analyst Armando Pantoja projected two months back that Shiba Inu is capable of reaching $0.001 this or next year. Meanwhile, community figure Lola argued that SHIB has the potential to clinch the $0.01 level.

Shiba Inu Circulating Supply Presents a Roadblock

Nonetheless, these goals might be too ambitious for Shiba Inu due to a simple roadblock. SHIB’s extensive circulating supply poses a problem to such targets. Due to the massive supply, Shiba Inu would either need an unimaginable volume of capital inflow to reach the goals or a massive increase in burn rates.

For context, if SHIB ever clinches the $0.001 price level, its market cap would skyrocket from the current $13 billion figure to $589 billion, making it the second largest crypto asset in the market. At this valuation, Shiba Inu would surpass Ethereum, which currently boasts a market cap of $426 billion.

Meanwhile, at the audacious $0.01 price territory, SHIB’s market valuation would spike above $5.89 trillion. Such market cap would make Shiba Inu larger than Bitcoin (BTC) by over 4.5 times. In addition, this valuation is larger than those of Apple ($3.27 trillion) and Microsoft ($3.28 trillion). 

The implication of price surges to $0.001 and $0.01 on Shiba Inu’s market cap makes it highly difficult for the canine-themed asset to reach these targets. As a result, a massive reduction in its circulating supply could be necessary to allow for such a price increase.

However, at the current burn rate, incinerating any significant portion of Shiba Inu’s circulating supply might take years. As a result, the community have turned their attention to layer-2 network Shibarium, which burns SHIB with a portion of its base gas fees. Notably, the Shibarium team is looking to pivot the burn mechanism to an automated one.

Shiba Inu Lead Arrives United States, Community Reacts

Lele Jima
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0
Shiba Inu Lead Arrives United States, Community Reacts

The enigmatic Shiba Inu lead developer stirs reactions among SHIB enthusiasts as his location mark on X changes to Colorado, United States.  

Kuro, a Japanese-based Shiba Inu community member, highlighted this change in a recent post.

The community member shared a screenshot showing that Kusama has modified his X location mark to Vail, a municipality in Colorado, United States. Kuro added a ‘thinking face’ emoji to the tweet, indicating curiosity regarding Kusama’s mission in the city. 

The Crypto Basic also confirmed that Kusama’s X location mark was Vail, Colorado. For context, Vail is known for its appeal to tourists during Winter due to its skiing and snowboarding experience.

Interestingly, during summer, Vail transforms into a vibrant destination for cultural festivals, hiking, and golfing activities. 

Past Modifications to Kusama’s X Location 

This is not the first time that Kusama’s X location mark has changed to different cities. The Shiba Inu lead developer occasionally changes his location mark on the social media platform, stirring a wave of reactions from enthusiasts. 

Over the past year, Kusama has changed his X location mark to Singapore, Japan, El Salvador, Hong Kong, Australia, and Dubai. The community typically expresses mixed reactions to these changes. 

While some community members speculate that Shiba Inu’s lead developer might be vacationing in these cities, others claim he manually changes the location mark without traveling to any city. 

Although doubts usually surround the change in Kusama’s X location mark, the Shiba Inu lead developer sometimes shares evidence of his trip to certain cities. Earlier this month, he revealed that he visited the Middle East, which helped him learn about his cousins’ culture. 

Forbes Recognizes Shiba Inu 

Meanwhile, the development follows the recognition of Shiba Inu’s team by top magazine Forbes. 

The media outlet recently published an article applauding the team, led by Kusama, for transitioning Shiba Inu from a memecoin to a utility project and setting the technological pace for other cryptocurrencies. 

Ripple CTO Confirms RLUSD Stablecoin is Good for XRP

Abdulkarim Abdulwahab
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0
Ripple CTO Confirms RLUSD Stablecoin is Good for XRP

Ripple CTO David Schwartz has argued that the forthcoming Ripple USD (RLUSD) stablecoin would be advantageous to XRP rather than harmful.

Schwartz shared this perspective yesterday during a chit-chat session in the concluding 2024 edition of the XRP Ledger Apex summit.

The host asked Ripple executives to clarify the shift from XRP to stablecoins, given that volatile digital assets were previously considered better suited for DeFi activities.

Why Stablecoin is Necessary 

Schwartz explained that the evolution of the DeFi universe has demonstrated the importance of stablecoins, where stablecoins have become key enablers. He pointed out that while volatile assets are useful in some scenarios, stablecoins are crucial in others due to their stability.

He cited volatility harvesting as an example where stablecoins are unsuitable but highlighted their utility in pricing, holding funds (dry powder), and trading when participants want to avoid market exposure. 

Furthermore, Schwartz stressed the view by noting that automated market makers (AMMs) require at least two assets for trading and liquidity. This emphasizes that DeFi participants need multiple asset classes to navigate the landscape effectively.

Moreover, the Ripple CTO highlighted the importance of having options by likening it to the power of “or” versus the tyranny of “and.” He stressed that different use cases and demands necessitate a variety of assets.

XRP Holds Privileged Position in Liquidity Services

In this context, Schwartz noted that XRP holds a privileged position on the XRP Ledger (XRPL). For instance, pathfinding always prioritizes XRP liquidity, and auto-bridging ensures trades automatically consider XRP liquidity.

Therefore, Schwartz concluded that XRP will maintain its privileged role as a bridge asset on the XRPL. He stressed that the introduction of the stablecoin ecosystem will not change this but will instead enable more use cases.

Prominent figures in the XRP community have spotlighted this latest explanation from the Ripple executive. Pro-XRP YouTuber Moon Lambo remarked that the RLUSD stablecoin launching on XRPL later this year “can’t literally exist without XRP.”

Emphatically, these perspectives counter growing concerns that Ripple’s RLUSD would undermine the existing utility of XRP in Ripple’s operations.

Ripple CEO Agrees

Ripple’s CEO, Brad Garlinghouse, who was also present with Schwartz, emphasized that RLUSD is a complementary addition to the overall XRP ecosystem. Garlinghouse noted that Ripple’s initiatives are always designed to ensure everyone’s success with XRP. 

He highlighted that having stablecoin liquidity provides better on-ramps and off-ramps, which benefits all users. “No way does that take away from our commitment to see the XRP ecosystem continue to grow,” he submitted.

Forbes Highlights Shiba Inu Success: Four Key Points of Praise

Lele Jima
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0
Forbes Highlights Shiba Inu Success: Four Key Points of Praise

The Shiba Inu ecosystem team celebrates SHIB’s recognition by the prestigious global business magazine Forbes.  

Forbes Recognizes Shiba Inu’s Achievements 

For context, Forbes dedicated a segment of the June 11 article to praising Shiba Inu for its achievements in crypto and traditional finance. 

“All hail Shiba Inu, cutest of all the doges!” the opening sentence of the segment read. 

The top media outlet stated that when it comes to memecoins, Shiba Inu is not just a token with a “pretty face” but one demonstrating how meme-based cryptocurrencies are developing real utility. 

Shiba Inu Team Reacts, Summarizes Forbes Article Into 4 Key Points 

Consequently, Shiba Inu marketer Lucie celebrated SHIB’s recognition by the prominent business media outlet. According to Lucie, the Forbes article delved into the impressive accomplishments of Shiba Inu’s ecosystem developers, ranging from its technological innovation to setting industry standards. 

She summarized the article into four key points. At the top of the list, Lucie pointed out that Forbes highlighted how Shiba Inu is leading innovation by setting the technological pace for other crypto assets. 

Secondly, the article recognized Shiba Inu’s partnership with Zama.ai, which focuses on developing a fully homomorphic encryption platform. The team member emphasized that the partnership illustrates Shiba Inu’s dedication to improving privacy and security. 

Also, she pointed out that Forbes admired Shiba Inu for its transition from a memecoin to developing practical utility, including security and identity solutions. 

Lastly, Lucie said Forbes emphasized that Shiba Inu’s impact extends beyond the crypto world into traditional finance, thus helping to set new industry standards. 

Explaining her rationale behind highlighting the Forbes article, Lucie pointed out that it demonstrates an objective recognition of Shiba Inu’s developers’ hard work and SHIB’s progress in the crypto space. 

Shiba Inu’s Commitment to Innovation

Overall, the Shiba Inu project has recorded notable achievements since its inception in August 2020. Launched as a memecoin, Shiba Inu has made significant efforts towards transitioning into a utility project, thanks to vibrant team of ecosystem developers led by Shytoshi Kusama. 

Shiba Inu currently has several projects within its ecosystem, such as a decentralized exchange (DEX), a Layer-2 blockchain, NFTs and DN-404 tokens, and a domain name system. 

The team is also working on other notable projects, such as an L3 privacy blockchain, a metaverse project, and a play-to-earn iteration of the Shiba Eternity game.As reported earlier, these projects will launch in the 2024/2025 market cycle.

Shiba Inu Now Purchasable with 100+ Fiat Currencies on StealthEX

Zabi
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0
Shiba Inu Now Purchasable with 100+ Fiat Currencies on StealthEX

Shiba Inu can now be bought with credit cards on StealthEX, thanks to their partnership with Mercuryo, allowing purchases with 100+ fiat currencies.

Shiba Inu (SHIB) continues to make headlines in the crypto scene, with several recent developments enhancing its utility and accessibility. From new purchase options on platforms like StealthEX to acceptance by various businesses, SHIB is solidifying its presence in mainstream applications.

StealthEX Enables Card Purchases for Shiba Inu

The Shiba Inu community has reason to celebrate as SHIB can now be purchased using a credit card on StealthEX. This development is due to StealthEX’s collaboration with Mercuryo, which facilitates transactions up to €700 without requiring Know Your Customer (KYC) procedures. 

This feature allows users to instantly purchase SHIB and over 170 other cryptocurrencies using more than 100 fiat currencies. StealthEX also highlighted popular memecoins on their platform, including SHIB, BabyDogeCoin, PEPE, FLOKI, VitaInuCoin, and VoltInuOfficial. Moreover, StealthEX promoted their API for accepting crypto payments, focusing on fixed rate swaps to simplify transactions, especially for processing services.

Binance Reinstates Mastercard Payments for SHIB

This news comes a day after The Crypto Basic reported that Binance users can again use their Mastercard to purchase a variety of cryptos, including Shiba Inu (SHIB) and XRP. The update follows Mastercard’s decision to reinstate crypto purchases and deposits via its payment network on Binance, a service that had been paused since August 2023 due to regulatory concerns. 

It is important to recall that Binance had faced several charges from U.S. regulators, including the SEC and CFTC, which led to the suspension. 

Shiba Inu Growing Adoption

Meanwhile, these developments marked a growing trend of Shiba Inu adoption in mainstream applications. In May, U.S. dental firm Amoré Orthodontic Aligners announced they will accept SHIB as payment. Amoré Orthodontic Aligners allows patients to pay for braces, retainers, and other services with Shiba Inu. 

Additionally, BlockDAG, a blockchain technology company, expanded its payment options to include SHIB among other digital assets like Bitcoin, XRP, and Cardano. They aim to improve accessibility and convenience for users purchasing BlockDAG’s native token, BDAG.

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