Shiba Inu (SHIB): Now Accepted by 1,200 Merchants Across 25 Countries

The Shiba Inu (SHIB), also known as Shiba Token, was launched as a potential rival to DOGE, sparking speculation due to its meme-like nature. Interestingly, Doge originated as a joke by its creators and was developed in under two hours.

Shiba Inu (SHIB) has emerged as a leading cryptocurrency, gaining massive popularity in the crypto market. Since its launch, the SHIB Coin has experienced a remarkable surge in adoption. With a current market capitalization of over $5.71 billion, the SHIB token has caught the attention of both investors and merchants.

Recently, CoinPayments, a leading cryptocurrency payment gateway that has announced the incorporation of Apcopay into its platform. This integration empowers users to utilize various cryptocurrencies, including Shiba Inu (SHIB), for transactions.

Noteworthy, the platform has a network of over 1,200 merchants spanning across 25 countries. The introduction of Apcopay could potentially catalyze a significant increase in SHIB’s usage and adoption.

Also Read: MicroStrategy’s Twitter Hack Leads to $440,000 Investor Loss

Is Shiba Inu (SHIB) Ready to Start a Rally?

While it’s a positive step for the SHIB Coin holders to access 1200 merchants, the asset’s price is facing challenges to pick up speed. The SHIB Coin is down by 0.50% on the daily charts, 1.29% down on the weekly charts, and has dropped over 22.19% since February 2023. The fluctuating trend raises concerns for investors.

As per our technical analysis, the Shiba Inu Coin could potentially delete a zero over the month, but we believe that SHIB prices may not be sustained that level and quickly regain a zero. So, we can say that once it’s zero, take profits.

Also Read: Shiba Inu (SHIB): Can SHIB Hit $0.005 in 2024?

How High Will Shiba Inu Go in 2024? Our Opinion

According to CoinMarketCap, the Shiba Inu Coin is trading at around $0.000009675 with a market cap of $5.71 billion.

As per our expert’s technical analysis, the Shiba Coin can achieve a maximum price level of $0.0000329 with an average price value of $0.0000298 by the end of 2024. However, if the market gets a bearish trend or any negative news surrounding the Shiba Inu ecosystem, the price of the SHIB Coin is anticipated to fall down to $0.0000279 in 2024.

We believe that the team behind the Shiba Inu project need to reduce the number of tokens in circulation, then SHIB Coin may see a massive surge in price. Also, the SHIB team is developing a new burn mechanism, speculated to annually burn trillions of tokens. However, the team has not revealed the launch date for this new burn mechanism.

Also Read: Shiba Inu (SHIB) Price Prediction