Friday, September 30, 2022
HomeAltcoins News833 Million Shiba Inu (SHIB) Tokens Purchased by Publicly Listed Company

833 Million Shiba Inu (SHIB) Tokens Purchased by Publicly Listed Company Corp, a publicly listed company, purchased 833 million Shiba Inu (SHIB) tokens earlier this month. The corporation paid between $50,000 and $60,000 for the tokens on the day they were purchased. A week after its ATH on Nov. 3, acquired SHIB tokens for between $0.000071 and $0.0000632. The fact that a publicly listed corporation has invested in the meme currency is positive for SHIB.

CEO Andrew Kiguel commented:

“We believe we are the first publicly-traded company to provide its investors with exposure to SHIB tokens.”

SHIB is now trading at $0.00005606, down 35.5 percent from its all-time high of $0.00008616, when it overtook Dogecoin in market value. Since then, DOGE has risen to 9th position, surpassing Shiba Inu, which had a market valuation of $30.7 billion.

Dogecoin (DOGE), an ecologically friendly Proof-of-Stake (PoS) token, has been replaced by Shiba Inu, according to the company’s official release. For example, the SHIB ecosystem allows NFT, GameFi, and decentralized trade through ShibaSwap (unlike Dogecoin).

Tesla Adoption Pending

Musk had asked on Twitter in May whether Tesla should accept DOGE as a payment method, and 78.2 percent of respondents replied yes. But, thus far, no significant progress has been made. The SHIB community recently received a boost when the source code of Elon Musk’s electric vehicle producer Tesla revealed SHIB beneath the payment type section.

ShibaSwap developer also acknowledged via a tweet but said Musk might be teasing the SHIB community. It may be a code term for another dog currency like Dogecoin, which Musk prefers. Tesla hasn’t said anything about this.

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