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Shiba Inu: Businesses Can Now Accept SHIB for Fiat Directly Through This Feature

Tue, 07/12/2022 - 14:18
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Tomiwabold Olajide
Shiba Inu holders continue to grow, crossing 1.2 million mark
Shiba Inu: Businesses Can Now Accept SHIB for Fiat Directly Through This Feature
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NOWpayments, the Shiba Inu-friendly crypto payments processor, continues to expand support for the meme cryptocurrency. This time, in partnership with Switchere crypto exchange, NOWPayments has launched an auto-conversion feature that would enable its merchants to exchange their SHIB funds for fiat directly without any intermediary transactions.

As of May, SHIB wrapped on the BNB Chain can now be accepted by merchants using NOWPayments. Earlier in 2022, the noncustodial cryptocurrency payments processor added a feature that enables businesses to burn a portion of the revenues they receive in Doge Killer (LEASH) or Shiba Inu (SHIB).

Shiba Inu holders have crossed 1.2 million mark

Shiba Inu holders continue to grow, crossing the 1.2 million mark. According to WhaleStats, the number of Shiba Inu holders stands at 1,200,301. An analysis of the top 100 Shiba Inu holders shows 23.61% of the average SHIB balance of these holders, a 15.29% increase in average SHIB value and a positive increase of 110% in netflow.

This comes as Shiba Inu returns among the top 10 most purchased and also in trading volume among the 5,000 biggest ETH whales in the last 24 hours. Shiba Inu also ranked among the most used smart contracts among the top 2,000 ETH whales in the last 24 hours.

According to the SHIB burn Twitter handle, there have been over 52,707,613 SHIB tokens burned and 15 transactions made in the last 24 hours.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.