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Gifts and Gains (with SHIB)

Posted December 01, 2021

Matt Insley

By Matt Insley

Gifts and Gains (with SHIB)

Since it's creation as the main alternative to Dogecoin (DOGE), Shiba Inu (SHIB) has gone from social media joke to a top-ten market cap contender, soaring over 60,000,000% in 2021, to date.

Doge, Shib meme

Staying on radar

If you’re tracking the social sentiment of Shiba Inu, you’ll have noticed that it simply can not stay out of the headlines. As stated in last week’s Buy The Crypto Rumor Issue, this is the exact scenario that sparks FOMO trading.

Let’s take a look at some of SHIB’s recent media coverage:

  • November 15: In response to his late October twitter poll, CEO of the largest movie theater chain in the world, Adam Aron, announced that AMC theaters will soon accept Shiba Inu, giving a 60-120 day timeline before online tickets and concessions begin accepting the token.

  • November 25: On Thanksgiving Day, SHIB hit a new milestone, garnishing over 1-million unique wallet addresses holding it’s tokens.

  • November 29: A mystery Whale known as “Gimli” adds 24.8 billion SHIB to their wallet. Gimli’s wallet now holds over 1.2 trillion SHIB.

  • November 30: Following a November 1st tweet, the 4th largest crypto exchange, Kraken, made good on it’s promise to list Shiba Inu. As of yesterday, SHIB is available on Kraken, and saw a 24 hour increase of around 20% as a result of the announcement.

And that’s just the past 2 weeks…

SHIB 20202-2021

SHIB has been heavily on the move since September, corresponding with its listing on the Coinbase exchange on August 15th. This was followed by WhiteBIT, Binance, and CoinFLEX exchange listings through October, to name a few.

And still...

Keeping it’s momentum alive, Newegg Commerce, Inc (NASDAQ: NEGG) announced on their YouTube channel Monday that they will begin accepting SHIB as a form of payment, “...just in time for the holidays.”

Newegg’s Director of Brand Marketing adds:

“We are always looking for ways to innovate the shopping experience on Newegg.com, and something our customers want is greater flexibility and options, including the ability to pay with a wide range of cryptocurrencies...”

SHIB will be joining the growing list of digital currencies supported by Newegg. Currently, consumers can check out using BitPay and select from the following list of digital currencies:

  • Dogecoin (DOGE)
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Wrapped BTC
  • Stablecoins (USDC, BUSD, PAX, GUSD, Dai).

What’s next for SHIB?

Since Shiba Inu’s September listing on Coinbase, Crypto Investors have remained vocal in their quest for SHIB to be added to the short list of 7 Cryptocurrencies accepted on the Robinhood trading platform.

Regarding their listing process, Robinhood COO Christine Brown states:

“Our strategy is a little bit different than a lot of the other players out there who are just racing to list as many assets as possible right now.”

It’s easy to see why investors are rallying to list Shiba Inu on Robinhood. SHIB is currently the 12th largest cryptocurrency by market capitalization, placing it above Litecoin (LTC) by $10 million, and shy of DOGE by only $3 million.

If (dare I say when) Robinhood decides to move forward with adding SHIB token to it’s platform, you’ll be in the know with another Daily Crypto Hunter update.

Until Friday,

Carpe Crypto,

Matt Insley
Editor, Daily Crypto Hunter

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