Bitcoin, Ethereum and Shiba Inu will be joining the Breitling family as the luxury wristwatch brand now accepts crypto payment via BitPay.
BitBay, the leading blockchain payment protocol, officially announced that they had begun offering support for the Shiba Inu (SHIB) coin back in December 2021.
This new feature means customers can purchase, store, trade, and spend Ethereum ERC-20 tokens directly on the BitPay app.
Furthermore, BitPay supports various cryptocurrencies, including Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Wrapped Bitcoin, and five additional USD-pegged stablecoins (BUSD, DAI, GUSD, USDC, and USDP).
As a result, luxury watch customers can pay for their purchases using any of these cryptocurrencies in addition to Bitcoin and Shiba Inu.
Shiba Inu’s Growing Influence
Shiba Inu’s popularity continues to increase, although its long-term momentum is not very strong. This is mainly because businesses have adopted it, including Gucci and AMC Entertainment, as a form of payment.
Undoubtedly, its price will go up as the use of Shiba Inu as a payment gateway continues to increase. However, there are worries over the high degree of volatility it exhibits.
The value of memecoin consistently experiences a precipitous decline a few days after new features are added to the cryptocurrency, regardless of how those new features are implemented.
According to WhaleStat, SHIB currently ranks in the top 10 crypto assets in terms of trading volume among the leading 2,000 ETH whales in the preceding twenty-four hours.
The top 100 Ethereum whales are currently hodling a total value of $562,701,229 worth of Shiba Inu, indicating that they are continuing to build up their cryptocurrency holdings.