Created as an alternative to Dogecoin, SHIB is expected to increase in value in the next few months, according to a recent report by Changellymag. The cryptocurrency news source says that this may be due to Adam Aron, the CEO of AMC Theatres, recently asking his Twitter followers if the company should begin accepting SHIB as payment. —
More details can be found at https://changellymag.com/amc-theaters-accepting-shiba-inu-in-usa-nft-craze-in-india-amitabh-bachchan-unique-autograph
The recently published report explains that customers can already use Bitcoin, Ether, Dogecoin, and Litecoin in purchasing AMC Theatres gift cards. However, the company is considering developing a system that can also read the Ethereum-based altcoin.
The announcement has helped yield a 1000% return to SHIB users in the last 30 days, offering a market capitalization of more than $35 billion at the end of October 2021. This has made the cryptocurrency one of the 10 most traded tokens in the world, and has given it the satiric moniker of the “Dogecoin killer”.
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Despite both Dogecoin and Shiba Inu being created as parodies to the decentralized market rather than serious digital products, many investors are now using the tokens as legitimate sources of payment. Nevertheless, SHIB is slowly surpassing Dogecoin in usability and popularity.
Its founder Ryoshi developed the cryptocurrency as an experiment in decentralized community building. It built its system hosted by the Ethereum blockchain instead of its own blockchain, which allowed it to hit the ground running with an already secure and well-established platform.
Since then, Shiba Inu has released three different utility tokens, its foundational SHIB which had an initial supply of 1 quadrillion, LEASH which only has around 100,000 tokens, and BONE with a total supply of 250,000,000 tokens.
The new report of Changellymag further suggests that SHIB’s massive gains can be attributed to its popularity in India. It says that many Bollywood stars have been seen promoting the coin as lucrative investments, and many Indians are considering using the cryptocurrency during the Diwali celebrations.
Interested parties can find more information by visiting https://changellymag.com
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