Shiba Inu token is another meme cryptocurrency with no real use case. The coin has been dubbed as a clone of the original satirical crypto token called Dogecoin. From last month to the first week of the current month, the Shiba Inu token showed a massive price rally. The investors were rushing to buy the canine meme token so much that it caused crypto exchange platform WazirX to experience technical difficulties.
However, in the last few days, the token has experienced a massive correction resulting in a huge disappointment for its traders. Not all the Shiba Inu traders have lost hope, as Brandon King, the NFL player playing for New England Patriots, recently claimed that he is interested in buying from the dip.
Famous Celebrities Show their Interest in Shiba Inu
The National Football League player, King, is not the only celebrity who is endorsing the Shiba Inu token. Another big endorsement for the meme crypto has arrived from comedian, rapper, and YouTuber FunnyMike. The Viner has recently tweeted that he has already invested $60K into the token and now owns around 817.6 million Shiba Inu units.
The recent spike in price for Shiba Inu that has been dubbed as Dogecoin killer seems to be driven by the news that Kraken exchange is planning to list it. Meanwhile, major crypto trading platforms like Binance and Coinbase have already listed the token. The petition for getting Shiba Inu listed on Robinhood has already reached 500,000 signatures. Two noteworthy online trading platforms Wealthsimple and Public.com, have also listed the token.
Retail consumers in the USA are currently dealing with the onslaught of fake news related to cryptocurrency payments. One of the biggest retailer stores in America, called Kroger, has recently clarified that they are not accepting payments in Bitcoin Cash. The rumour was started by an unreliable media outlet called PRNewswire.
The same publication also started a rumour about Walmart starting to accept payments in Litecoin. The rumour was clarified by CNBC, Bloomberg, and some other financial reporters. However, as a result of this unreliable news, the respective tokens in question were able to gain 30% in prices temporarily. Another big rumour circling the crypto community these days is Ripple Labs agreeing to settle the case with SEC.