The meme-inspired digital currency Shiba Inu (SHIB) has been gaining major traction lately due to its latest developments.
One of such developments is BitPay’s announcement of its customers now being able to buy precious metals, such as gold, silver, platinum, and palladium, with cryptocurrencies it supports, including $SHIB. This is part of the payment processor’s aim of broadening the use of crypto beyond being just a store of value and speculation. The metals can be acquired from various dealers, like Bullion Exchanges, JM Bullion, and APMEX.
Another breakthrough in the SHIB ecosystem is the remarkable progress of its layer-2 network solution, Shibarium. The beta version, dubbed Puppynet, has surpassed the 14 million wallet mark just four weeks after its relaunch with an updated Chain ID. According to BlockScout, the designated block explorer for Puppynet, the beta network now has 14,061,589 wallets, 4,618,856 transactions, and 497,068 blocks processed. This indicates that testing on the Shibarium beta is going well and bodes well for its future launch.
In addition, India seems to be captivated by $SHIB, as it was the most traded cryptocurrency on CoinSwitch, one of India’s leading crypto trading apps, from April 15 to 20, 2023. This highlights the growing enthusiasm for $SHIB among investors in India, who are turning to the asset as their go-to investment option. According to CoinSwitch, the top five most traded cryptocurrencies on its platform during the said period were $SHIB, $BTC, $DOGE, $LRC, and $ETH.