- Binance users can now buy SHIB directly using USD.
- This will allow users to trade the coin faster and at the standard flat rate.
- Shiba Inu is gaining strong momentum through major listings and wider adoption.
Binance, the largest crypto exchange in the world has launched SHIB trading directly with USD. Although Shiba Inu has been listed on the Binance exchange for quite some time, it didn’t have the USD purchase feature.
Users till now had to purchase SHIB either through other trading pairs such as SHIB/Doge or through USDT. So, Binance users needed to convert their USD into USDT or Doge to purchase SHIB on the platform.
The newly introduced feature will allow users to directly buy Shiba Inu tokens using USD, whether through their deposits or debit/credit cards. This will cut down the purchase and withdrawal time for SHIB on Binance, and bring down the trading fees to the standard 0.10%.
Shiba Inu is slowly moving up the crypto ladder
Just a couple of months ago, Shiba Inu was just another meme coin. However, this meme coin now has one of the largest community support in the industry, with lots of exciting projects happening around this ERC-20 token.
Lately, it’s been impossible to keep SHIB out of the headlines every week. The superstar meme coin has been gaining a lot of new listings across the board. Last week Shiba Inu was listed on Gemini, which is one of the most security-conscious exchanges in the US. The Gemini listing was a major step for Shiba Inu, as this platform was founded by Bitcoin billionaires and controversial Facebook founders the Winklevoss twins. Earlier this month, Coinbase also listed SHIB for the New York residents.
SHIB is gaining the trust of major businesses
Shiba Inu is also getting significant industry-wide adoption. The American movie theatre chain, AMC theatres will also start accepting SHIB payments in the coming months. Last month, a popular bistro in Paris started accepting SHIB payments, along with several other restaurants and real-estate services across the world.
CoinGate has also integrated Shiba Inu into its payment and trading services. It means that 500+ CoinGate merchants can now accept SHIB payments from their customers. With Binance now allowing investors to purchase this trending token directly with USD, it will definitely boost the SHIB Army’s confidence.
The coin has been getting constant support not just from its community but also from the wider industry. It shows that SHIB has evolved into something more than just a mere meme coin.
Prior to the market crash earlier this week, Shiba Inu prices had shown tremendous stability, with constant consolidation for weeks. Even with the market crash, SHIB hasn’t fallen below the 0.00004 mark, which still signifies over 60% growth in the last 30 days.
Shiba Inu is currently trading at $0.00004905, at the time of writing.
Healthcare Company Adds Shiba Inu to Its Balance Sheet
A Toronto-based healthcare company now holds Shiba Inu on its balance sheet.
Ask The Doctor, a Canadian online healthcare company, has added $1.5 million worth of Shiba Inu to its balance sheet, according to an announcement posted on its Twitter account.
Kraken facilitated the seven-figure buy. As reported by U.Today, Shiba Inu started trading on the San Francisco-based cryptocurrency exchange on Tuesday.
Ask The Doctor has added ~$1.5M USD (approx 31B $shib) to our balance sheet via Kraken.
We are 72 hours away from accepting #SHIB with our healthcare partners. pic.twitter.com/NHG17druCh— Ask The Doctor ® 🇺🇸🇨🇦 (@askthedr) December 1, 2021
The medical information website will also begin accepting the meme cryptocurrency with its healthcare partners within the next three days.
It already allows clients to pay with Dogecoin for certain services in the U.S. and Canada.
The Toronto-based company was launched in 2010, allowing its clients to connect with medical professionals via text messages or video streaming. Notably, its list of co-founders includes former NBA player Israel Idonije and former NBA star Dikembe Mutombo.
In 2016, Ask The Doctor started accepting Bitcoin payments, becoming the first healthcare company around the globe to embrace crypto.
The reason for adding the new payment option was to offer customers who share sensitive medical data more privacy.
Shiba Inu Coming to Brazil’s Largest Crypto Exchange
BBrazil’s Mercado Bitcoin is set to add support for Shiba Inu on the first day of December.
Mercado Bitcoin, the largest cryptocurrency exchange in Brazil, has announced that Shiba Inu will become available for trading starting from Dec. 1.
The token is yet to be added to the trading platform at the time of writing.
The announcement was accompanied by a video of a Shiba Inu dog in military gear.
Uma das moedas que mais valorizaram em 2021 e que acumula um verdadeiro exército de seguidores💪😮
É isso aí! Amanhã, $SHIBA estará disponível no MB, com um histórico de valorização de mais de 18000%, até agora neste ano.
🚨 01/12 #shibarmy @shibtoken #shibainu pic.twitter.com/24HuhiBymA— Mercado Bitcoin (@MercadoBitcoin) November 30, 2021
After listing SHIB, Mercado Bitcoin will also add support for Cosmos (ATOM), Polkadot (DOT) and Loopring (LRC) later this week.
2TM, the parent company of the number one exchange in Latin America, raised another $50.3 million in late November. This occurred just months after raking in $200 million in July during a Series B investment round spearheaded by Japanese conglomerate SoftBank.
Last month, Korbit became the first cryptocurrency exchange to list Shiba Inu in South Korea.
Kraken, one of the world’s top exchanges, also added support for the top token earlier this week.
New Shiba Whale Buys $38 Million Worth of Tokens
Another whale appears on Shiba Network after token drops from local high and consolidates
New Shiba Inu whale appears on the network after purchasing $38 million worth of tokens. The whale newcomer has bought 850 billion tokens while it was losing 5% of its previously gained value.
The transaction was made 15 hours ago, while the token had just begun its correction and was trading at $0.000048. Such strong buying power, unfortunately, could not push SHIB further up and fuel the local uptrend.
With more whales entering the market, Shib’s fundamental background is continuously developing while the price on the market seems to struggle to break through the $0.000046 area.
Other whales also remain in the Shiba Inu sea by holding more than $2.3 billion worth of tokens while previously owning only about $1.8 billion. The change in the trend appeared shortly after the global cryptocurrency market correction.
Most whales have entered Shib with a large discount of 15% compared to the previous trading range. Whales have also become an absolute majority on the chain by buying up 72% of the circulating supply, which puts Shiba mostly in the hands of large wallets.
At press time, Shiba is trading at $0.000046 with 3% of the daily loss. Additionally, the token is losing 15% from its previous high of $0.000054. The token failed to continue its rally and is trading at the local support, while on-chain data suggest a rapid drop of trading volume, which indicates that traders have not yet decided the future direction of the asset’s price.