TL;DR Breakdown:
- Binance users can now buy SHIB directly using USD.
- This will allow users to trade the coin faster and at the standard flat rate.
- Shiba Inu is gaining strong momentum through major listings and wider adoption.
Binance, the largest crypto exchange in the world has launched SHIB trading directly with USD. Although Shiba Inu has been listed on the Binance exchange for quite some time, it didn’t have the USD purchase feature.
Users till now had to purchase SHIB either through other trading pairs such as SHIB/Doge or through USDT. So, Binance users needed to convert their USD into USDT or Doge to purchase SHIB on the platform.
The newly introduced feature will allow users to directly buy Shiba Inu tokens using USD, whether through their deposits or debit/credit cards. This will cut down the purchase and withdrawal time for SHIB on Binance, and bring down the trading fees to the standard 0.10%.
Shiba Inu is slowly moving up the crypto ladder
Just a couple of months ago, Shiba Inu was just another meme coin. However, this meme coin now has one of the largest community support in the industry, with lots of exciting projects happening around this ERC-20 token.
Lately, it’s been impossible to keep SHIB out of the headlines every week. The superstar meme coin has been gaining a lot of new listings across the board. Last week Shiba Inu was listed on Gemini, which is one of the most security-conscious exchanges in the US. The Gemini listing was a major step for Shiba Inu, as this platform was founded by Bitcoin billionaires and controversial Facebook founders the Winklevoss twins. Earlier this month, Coinbase also listed SHIB for the New York residents.
SHIB is gaining the trust of major businesses
Shiba Inu is also getting significant industry-wide adoption. The American movie theatre chain, AMC theatres will also start accepting SHIB payments in the coming months. Last month, a popular bistro in Paris started accepting SHIB payments, along with several other restaurants and real-estate services across the world.
CoinGate has also integrated Shiba Inu into its payment and trading services. It means that 500+ CoinGate merchants can now accept SHIB payments from their customers. With Binance now allowing investors to purchase this trending token directly with USD, it will definitely boost the SHIB Army’s confidence.
The coin has been getting constant support not just from its community but also from the wider industry. It shows that SHIB has evolved into something more than just a mere meme coin.
Prior to the market crash earlier this week, Shiba Inu prices had shown tremendous stability, with constant consolidation for weeks. Even with the market crash, SHIB hasn’t fallen below the 0.00004 mark, which still signifies over 60% growth in the last 30 days.
Shiba Inu is currently trading at $0.00004905, at the time of writing.
