Shiba Inu becomes the #1 payment method in the billion-dollar market

  • SHIB ranks 12th among the top payment methods on crypto payment gateway Coingate in less than 12 months.
  • Amid the crypto winter, SHIB is seeing positive sentiment and a surge in the number of token holders.

Recently, Lithuania-based crypto payment gateway Coingate celebrated the first anniversary of its partnership with Shiba Inu. After recognizing the SHIB community’s full support for the project, the leading crypto payment processor announced that SHIB payments are the 12th most popular payment on its platform.

Coingate is surprised at the rapid rise in popularity of SHIB payments on its platform as their partnership is only a year old.

One reason SHIB payments became more widely accepted on the Coingate platform was that users could buy unlimited gift cards using the crypto. But more importantly, it allowed these users to redeem their gift cards seamlessly. For example, some users redeemed their gift cards to pay for Airbnb apartments and buy new clothes from Nike or Zalando.

Others used the redeemed gift cards to play the latest PS5 and Steam games. Another reason for the rapid increase in Coingate’s acceptance of SHIB payments was that Coingate didn’t charge its users when they bought SHIB or other cryptos with their credit cards.

Meanwhile, Coingate has proven that its partnership with SHIB was beyond business. In August she celebrated her second SHIB anniversary. It also congratulated the community and developers as they launched the highly anticipated Shiba Eternity, the platform’s trading card game.

Certik’s latest weekly Project Spotlight focuses on SHIB

In its latest weekly project spotlight, blockchain security firm Certik written down that the crypto market downturn caused by the FTX crash had not affected Shiba Inu. Certik noted that SHIB token holders increased sharply during this period, while there was generally positive sentiment towards the crypto and SHIB networks.

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The blockchain security firm stated that its Skynet Social Analysis (the Social Sentiment Index) for SHIB was 79 percent. A score indicating overall positive sentiment about the asset. Certik added that SHIB’s score is among the best given the current circumstances permeating the crypto space.

The blockchain security company added that it has seen SHIB’s token holders increase even though the price of the digital asset has fallen like other digital assets. According to Certik, the number of SHIB token holders is now 1.27 million, indicating a 0.25 percent increase over the past 24 hours.

A thorough analysis of the surge shows a steady increase in SHIB token holders over the past few days. This shows that many investors are willing to buy or raise their SHIB tokens regardless of the current crypto market conditions. SHIB’s 1.27 million token holders are among the highest in the last 60 days.

Meanwhile, SHIB’s promising metrics may have been caused by recent positive developments around the network. The latest development in the SHIB Metaverse project is the introduction of the second concept, the Tech Trench Hub.

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