25 April, 2024

Shiba Inu’s Integration with Binance Pay: A New Horizon for Payments?

22 Mar, 2024

10 Apr, 2024

  • Shiba Inu’s integration into Binance Pay facilitates secure, real-world transactions using cryptocurrency.
  • Binance Pay’s adoption of SHIB coins signifies a major step towards widespread usability of cryptocurrencies in daily purchases and services.
  • The launch of the DAMN token on the Shibarium network introduces an innovative burn mechanism.

The integration of Shiba Inu (SHIB) with Binance Pay, a cryptocurrency payments platform, marks a new era for SHIB holders, enabling them to make real-world purchases with their digital assets. This development, highlighted in the 17th edition of Shib Magazine, reflects the evolving landscape of cryptocurrency usage in everyday transactions.

Binance Pay, which incorporated Shiba Inu back in November 2022, has been working in collaboration with major payment providers. This alliance has made it possible for users to seamlessly transact using SHIB, alongside other supported cryptocurrencies, for various goods and services. With the recent spike in the price of SHIB to around $0.000045, the opportunity for investors to use their crypto earnings in the real world has become increasingly tangible. This integration, therefore, doesn’t just symbolize technological advancement but also adds practical utility to SHIB.

Another noteworthy development in the Shiba Inu ecosystem is the introduction of Sol Killer (DAMN), a new memecoin on the Shibarium layer-2 network. Launched by Woofswap, a decentralized exchange on Shibarium, DAMN gained immediate traction, surging by 39% within its first 24 hours. 

A key feature of DAMN is its unique mechanism to burn BONE, Shibarium’s gas token, with every transaction. Token burns are crucial in the crypto space as they reduce the overall supply of the asset, potentially boosting its value amid increased demand. The DAMN team’s strategic move to burn its liquidity pool has further piqued investor interest, as indicated by data from Shibariumscan.

As of today, the price of Shiba Inu stands at around $0.00002782, with a 24-hour trading volume of $1,371,913,861.48. Despite a 2.40% increase in the last 24 hours, SHIB has experienced a 3.51% decline over the past week. However, it’s noteworthy that SHIB is still performing relatively well compared to the broader global cryptocurrency market, which has seen a larger decline.


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