Meme coins have been taking back seats to the larger market capitalization cryptocurrencies, but they started to rise following the “meme stock” trend of GameStop (GME) and AMC Entertainment (AMC) in 2021. Even the popular ones like SHIB and DOGE only cost a fraction of a cent. Also, the price of meme coins is generally low due to their huge supply. Therefore, a large number of meme coins cannot be traded on major trading platforms. Most meme coins are created with limited utility or use cases and are more short-lived than the mainstream cryptocurrencies like bitcoin (BTC) and ether (ETH). For example, Dogecoin and Shiba Inu were inspired by memes of an adorable Shiba Inu dog, while PepeCoin (MEME) was inspired by Pepe the Frog, a popular anthropomorphic frog meme. The fees will be burned (i.e., sent to the SHIB burn wallet).ĭogecoin and Shiba Inu, along with hundreds of other meme cryptocurrencies, are known as meme coins or meme tokens. Whenever the Shiboshi holders want to change the name of their NFTs, they need to pay a fee of USD 100 in SHIB. The announcement included a new token-burning mechanism as well. In October 2021, the SHIB team launched 10,000 “Shiboshi” NFTs on the Ethereum blockchain and announced an upcoming NFT game called Shiboshi Game. It invites fellow dog-inspired artists around the world to bring their Shiba Inus into the NFT market, featuring artworks like painting, photography, and digital rendering. Bitcoin ( BTC), Ethereum (ETH), and the BUSD are just a few examples.Shiba Inu is also proposing a non-fungible token (NFT) art incubator called Shiba Artist Incubator. Two additional cryptocurrencies, Ripple (XRP) and Avalanche (AVAX) will be accepted as payment methods on the crypto exchange’s card.Īdding these coins to the Binance card has increased the number of cryptocurrencies supported to 14. The Shiba Inu coin was not the only one to be introduced to the Binance card. The card comes with no annual or foreign exchange fees, and holders may earn up to 8% cashback. In addition, the Binance card’s usage with the Shiba Inu comes with certain enticing benefits. As a result of the expanded support, SHIB payments will now be accepted at more than 60 million shops globally that accept the Binance card. Customers who have a Binance card may now pay for goods and services using their SHIB tokens. Until today, the Shiba Inu has not been included on this list. For those who want to pay for goods and services throughout the globe with cryptocurrency, the Binance card is a great option. It is now available on the Binance card of the biggest cryptocurrency exchange in the world, which means it may now be used for payments.Įarlier this month Binance said that it will be introducing additional currencies to its Binance card, which is a virtual currency wallet. To capitalize on the currency’s popularity among investors, a growing number of businesses and shops are already accepting the meme coin as a form of payment. The cryptocurrency Shiba Inu has been going the payments route in an effort to increase its usefulness. Binance card has increased the number of cryptocurrencies supported to 14.SHIB payments will now be accepted at more than 60 million shops globally.Posted on Aug(August 6, 2022), 11:19 pm by Ashfaq 3 months ago | 2 mins read Altcoin News
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