Who's a good boy Shiba Inu price jumps as Newegg officially accepts meme coin

The popular canine cryptocurrency Shiba Inu (SHIB) is now wagging its tail frantically after the 33% crash suffered on Wednesday, thanks to a good friend.

But this time it’s not about Vitalik Buterin, as this impressive and surprising rebound came after electronics retailer Newegg Commerce (NEGG) officially confirmed that it will accept the Shiba Inu currency as a form of payment, just as the season kicks off.

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A cryptocurrency-friendly computer store

Newegg may be familiar to you after reading a recent post where we discussed whether it would be wise to use your crypto assets as payment currency during Black Friday sales.

Newegg is an online retail company specializing in the sale of technology products ranging from high-end gaming PCs and miscellaneous components to small accessories.

Newegg became very popular among the crypto community for the acquisition of hardware for the mining of Bitcoin and other cryptocurrencies.

In a nod to this community, the e-commerce firm was one of the first surfaces to accept Bitcoin, as early as 2014.

Other retailers, especially in the gaming and technology sectors, also took their first steps with payment with cryptocurrencies, but the truth is that many of them were overwhelmed by the volatility of the market and ended up backing down.

But Newegg has remained true to its commitment to cryptocurrencies, and earlier this year even included Litecoin (LTC) and Dogecoin (DOGE) as forms of payment.

Shiba Inu is now back in the ring, taking on his arch nemesis Dogecoin on the electronic platform.

Both coins enjoy great popularity today, thanks to the endorsement obtained from renowned figures in the crypto sphere, and also to that feeling that the enthusiasm that both puppies-set coins arouse among the public should not fall on deaf ears.

Although the two coins emerged as a joke, Newegg is taking them completely seriously, to the point that on November 30 he announced with great fanfare that he will accept Shiba Inu, using the largest billboard seen in the United States.

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What will be next? Will Shiba Inu make it to the moon?

The boost from Newegg helped Shiba Inu get back on the growth path, after losing more than a quarter of its value in November.

However, it is important to note here that the canine currency is only trading for a small fraction of a penny, so traders will need to move large amounts of SHIB to receive significant profits.

Has Shiba Inu been an expensive joke that big mega-famous influencers in the crypto community have been amused with? For now, it seems that SHIB does not have a large scope of application that can lead to believe that it will remain in the market.

The ability to use this currency to buy electronics products is a step in the right direction, and there are other projects on the horizon that would give Shiba Inu legitimacy and reward early investors.

The creators of SHIB have flirted with the possibility of partnering with a well-known video game developer, and there is an increasingly plausible belief that Shiba Inu will play an active role in their metaverse, a virtual reality environment that promises to connect gaming, e-commerce and social networks.

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Trade SHIB on StormGain for maximum profit

The holiday season could be crucial to the future of SHIB, depending on whether other associations like this manage to boost the canine currency from meme to serious asset.

Whether you trust the potential of SHIB or if you bet against, in StormGain you will find the best trading conditions: in addition to the SHIB / USDT pair, you can trade SHIB / DOGE against each other.

And if you are not yet a StormGain customer, register in a few seconds and discover everything that the best cryptocurrency platform on the web can offer you!

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