Newegg Adds Shiba Inu to Payment Option
The crypto community has had one of its best years with a spate of adoption from giant companies around the world. Shiba Inu, one of the crypto revelations of the year, has enjoyed continued growth in its popularity and adoption as Newegg has revealed that it would accept the popular meme coin on its platform.
Newegg joins AMC in embracing Shiba Inu
According to a recent tweet from the official Twitter handle of the E-commerce platform, Newegg will finally be accepting Shiba Inu on its platform after hinting that it could be accepting the asset soon.
— Newegg (@Newegg) November 26, 2021
This was also given wider publicity by the company via a digital out-of-home (DOOH) campaign that was displayed on The Reef, North America’s largest DOOH billboard.
Little over a week ago, the California-headquartered company had spoken to the volunteer project lead of the Shiba Inu project Shytoshi Kusama via Twitter to clarify some issues surrounding their possible adoption.
Andrew Choi, Director of Brand Marketing at Newegg revealed that the idea would be coming true through the partnership of BitPay, which would be used to facilitate the payment. According to Choi, “Through our partnership with BitPay, we have the ability to move quickly and lead the market with flexible cryptocurrency payment options. To that end, we’re excited to offer SHIB as a payment option on Newegg.com.”
Apart from Newegg, other notable companies that now accepts Shiba Inu as a viable payment option includes leading American theatre chain, AMC, Nexus Aurora, Marklien
Crypto community reacts
Community members of Shiba Inu have reacted positively to news of the adoption with the tweet already generating over 15,000 likes on Twitter.
One of the responses from the #ShibArmy stated that “Adoption by large online global retail business is great for $SHIB.” Another member of the community Shibillionaire said that he would be patronizing Newegg because of its adoption of the meme coin.
Since reaching its new ATH of $0.00008845 on October 28, Shiba Inu has lost 55% of its value and is currently trading for $0.00003912. The asset is also currently ranked as the 12th largest crypto asset by market cap.