In a blog post, CoinGate revealed over 500 merchants can now accept SHIB that has also been integrated into the system’s gift card store. Furthermore, Shiba’s integration into the CoinGate trading system enables users to buy SHIB at a 1% rate. The development will likely be a catalyst for a potential SHIB price surge, considering that the coin has come under scrutiny for lacking real-world use cases. Notably, in July, SHIB surged in value after the launch of its much-anticipated decentralized exchange (DEX), ShibaSwap, and the integration of the SHIB token on a retail Shopping.io platform.
SHIB price action
SHIB is among the standout cryptocurrencies of 2021, surging 483,700% on a year-to-date basis. By press time, the coin was trading at $0.000048, dropping 4% in the last 24 hours. Currently, the token is eying another all-time high despite the price action getting congested with each lower high, suggesting consolidation. Therefore, the coin will likely break out from the downtrend with a possible upswing. Notably, the possibility of high returns might force market participants to accumulate SHIB at the current drop and trigger an upswing. Overall, action from the SHIB community has pushed the token to new heights of popularity. As we previously reported, SHIB and Binance Coin (BNB) recently ranked as the most popular coins on the Binance crypto exchange. [coinbase]
