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Will Shiba Inu win as a payment method?

Shiba Inu Recovers 40% From Recent Low

While the coin may have started out as a meme coin, the token has soared a mind-boggling 45,000,000% in one year. But what is this increase actually due to?

A great support from the Shiba Inu community, a group of loyal followers known as the Shib-Army. A general interest in emerging tokens with the Shiba Inu dog as its mascot has obviously contributed to this as well. Also, the value of the meme token increased every time after news came out about merchants accepting Shiba Inu as a payment method.

For example, the well-known crypto-friendly cinema chain AMC recently announced that they are going to accept SHIB to cite an example. Is Shiba Inu a realistic winner in terms of payment methods and what will this mean for the currency?

Do you want to trade Shiba Inu on one of the largest and most reliable exchanges in the world?

Shiba Inu must find distinctive character

You can now use Shiba Inu as a payment option in the US alone at about 40,000 traders and stores. Through various collaborations, this figure is still growing very fast worldwide. However, this still does not distinguish itself from other cryptocurrencies: in many places you can pay with much more than just Shiba Inu. While it may be nice to use SHIB tokens with a payment, it is not something unique and SHIB is certainly not winning in this area yet. It does give a huge boost to the SHIB ecosystem.

It also does not have a blockchain on which you can build decentralized applications (dApps). This makes it ‘simply’ a crypto currency that is built on the blockchain of Ethereum (ETH). However, it is working behind the scenes on some updates, making it less dependent on Ethereum, which it still is at the moment.

Shiba Inu is also expected to launch its own Metaverse. However, it is not certain whether this will be enough to distinguish Shiba Inu from the rest, because several other Metaverses already exist. These Metaverses, such as The Sandbox or Decentraland, are also at a much further stage of this. Simply put, they have already made much more progress.

Finally, Shiba Inu can make significant leaps in various areas, including payments. But if the meme token doesn’t find a way to stand out from the thousands of cryptocurrencies out there, big profits for this cryptocurrency could be a thing of the past. The latter, of course, remains just speculation at the moment.

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