Explained: Why is Shiba Inu (SHIB) seen on Tesla’s website code?

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TL;DR Breakdown:

  • Shiba Inu (SHIB) has been spotted on Tesla’s website code for payment options, alongside Bitcoin. 
  • Although the code is not live, this could be the company wants to resume accepting crypto payments with the two cryptos. 
  • However, some are worried this could be a troll from the Tesla team. 

Judging by what is seen on Tesla’s website back-end code, the now-largest dog-themed digital currency, Shiba Inu (SHIB), might become the first meme cryptocurrency to launch on Tesla for payments – outrunning Dogecoin (DOGE).

Bitcoin, Shiba Inu, spotted on Tesla website code

Recall in Tesla’s September quarterly filing with the SEC; the company mentioned that they might “in the future restart the practice of transacting in cryptocurrencies.” As part of the move to reinstate the crypto payment service, Tesla added Bitcoin and Shiba Inu to their website’s payment processing system code, although the functions are currently not live. 

The literal meaning to this is that the electric car company might be planning to support SHIB as part of its cryptocurrency payment options, and this will be bullish for the Shiba ecosystem if true. On the other hand, the development has left people wondering if that could be a troll from Elon Musk or Tesla officials. 

DOGE is seen as Musk’s favorite cryptocurrency, and he recently became part of the Dogecoin team. Hence, some people don’t believe the world’s richest man would forgo Dogecoin to accept payments in Shiba Inu. On October 24, he confirmed holding Bitcoin, Ether, and Dogecoin, but not any SHIB. 

SHIB momentum gets stronger

There have been lots of bullish news for SHIB in the past week, which has incited more demand and interest on the token. The price of SHIB has increased by over 800 percent in the last 30 days, following several developments, including exchange supports, the Shibotoshi NFT project, and most importantly, the anticipated launch of SHIB on the trading platform Robinhood. 

The number of petitions signed for Shiba Inu to list on the platform has significantly increased. The ShibaArmy are hopeful that Robinhood and Tesla support could drive a $1 SHIB. It remains to be seen how much of an impact these developments would make to the token when they are realized. 

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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