IS SHIBA INU THE BEST CRYPTO TO INVEST IN?
For those who are looking for a bullish investment, Shiba Inu may be the perfect place to put some money into. The dog themed cryptocurrency was launched in August of 2020, to compete with DOGE coin and has been on the up and up throughout 2021. Shiba Inu has been a social media sensation and has an extremely loyal fan base. Since the beginning of the year, the number of holders for the meme coin has increased from 1.1 million to 1.19 million and there is increased speculation that the coin may reach $0.00003174 in the first half of 2022 — especially with the increased interest in the coin from other countries such as Turkey, Australia, Venezuela, and of course the United States,
WHAT COUNTRIES UTILIZE SHIBA INU?
Turkey is currently experiencing an extreme debt crisis like never before. The Turkish Lira has continued to decrease in value over the last several years. Luckily, during this bearish time, cryptocurrency has helped citizens tremendously. The Turkish government has an increased interest in adopting cryptocurrencies, including Shiba Inu (SHIB). In fact, in 2021, CoinDesk reported that Shiba Inu was one of the most popularly traded coins for Turkish investors — competing against both Bitcoin and Tether.
VENEZUELA ACCEPTS SHIBA INU?
South American country Venezuela is also slowly beginning to find ways to adopt the coin. Venezuela has been experiencing hyperinflation for the last seven years, so citizens have been eager to find alternative options; such as adopting SHIB. So far as of December 2021, it’s been reported that there are at least 100 places that accept SHIB as a form of payment in Venezuela, including stores that sell fast food, liquor, hardware, electronics, and more. Citizen of Venezuela and business owner of “Choripan Food Truck”, Alejandro Yanez was an early adopter of accepting the digital coin, he states —
“We don’t fear the new, we fear what is static, and life challenges you every day. You move forward or wait your whole life to decide, so we chose to support $SHIB and its ecosystem. We see it as a community project for the community. On June 4 we did the first transaction, of many we hope to have in our country”.
AUSTRALIA ACCEPTS SHIBA INU?
Recently Australian Energy company “1st Energy” became the first energy retailer to accept cryptocurrency as payment. This allows its customers to now pay their bills through the cryptocurrency payment processor known as BitPay. It accepts both Shiba Inu and competitor Doge Coin.
AMC ACCEPTS SHIBA INU?
CEO of popular movie company AMC, Adam Aron said that they were working towards adding BitPay powered payments as soon as in the next couple months. AMC has been a huge support in the cryptocurrency space and has been very vocal about their plans to continue to incorporate new trends such as crypto and NFTS (non-fungible tokens), in efforts to bring the movie chain back up from its difficult year in 2020.
SHIBA INU INTRODUCES “BURN PORTAL”
Shiba Inu continues to make headlines across the globe. SHIB has had an impressive year in 2021 and it’s expected that if it maintains its popularity it will only continue on an upwards trend through 2022. In addition, SHIB developers have recently introduced “burn portals” which will allow for traders to regularly “burn” or reduce the supply of the dog-themed token. CoinMarketCap currently indicates that SHIB has a total 589 million coins, which is significantly less than the original amount that was created. The burn portal will reduce the amount of coins, making the Shiba Inu coin more valuable than ever before.