- Elon Musk’s Boring company partners with BitPay to enable the burnt hair perfume purchase with SHIB tokens.
- Indians hold the highest amount of SHIB tokens compared to other cryptos in the market.
Self-titled perfume salesman, Elon Musk, announced that people could buy his Burnt Hair perfume with Dogecoin. Additionally, his boring company has also partnered with the crypto payment platform, BitPay to enable the purchase of the fragrance with SHIB tokens. Apart from Shiba Inu, BitPay also supports 14 other cryptocurrencies.
In another good news for the Shiba Inu community, technology behemoth, Google, and the number one crypto exchange in America, Coinbase, have partnered to allow Google Cloud users to pay for their service with Shiba Inu and nine other cryptocurrencies. Google Cloud will enable crypto payments using the Coinbase Commerce tool.
This tool is primarily for small business merchants to allow them to accept crypto payments. Coinbase has another tool that enables large corporations to accept crypto payments. That tool is Coinbase prime. Google is also planning to deploy Coinbase Prime to cater to its big clients.
For instance, the popular media outlet, CNBC, wants to move a significant portion of its “data-related apps” from amazon web services to Google Cloud. In addition, Google would also use Coinbase Node to power BigQuery public data sets related to cryptocurrency. Google Cloud CEO, Thomas Kurian, commented on the partnership with Coinbase. He said, “Through this partnership, it becomes easier and faster for developers to build in Web3.” Thus, it is likely that these positive developments would positively impact the price of the meme-themed cryptocurrency.
SHIB most popular in Indian
Meanwhile, a new report stated that more than 100 million Indians are crypto investors, the nation with the highest number of crypto investors globally. A large percentage of the 1.4 billion Indians believe crypto is their best option to achieve their financial goals.
However, the report added that most Indian crypto holders hold SHIB tokens. Data from the crypto analytics platform, Nomics, states that 9 percent of all Shiba Inu transactions originate from India. Since the beginning of this year, Indians have transacted about $120 million worth of SHIB tokens.
India’s largest crypto exchange, WazirX, also stated that 10 percent of its daily transactions are SHIB-related. It is worth noting that the crypto exchange’s daily active users usually exceed 15 million. Also, between 5 and 9 percent of SHIB transactions on India’s other top exchanges, such as CoinDCX and ZebPay, are for SHIB tokens. WazirX’s platform crashed last year in May following the listing of SHIB. There were millions of SHIB transactions within minutes of the listing.
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Two possible reasons exist for the massive popularity of SHIB tokens among Indians. The first might be Ethereum CEO Vitalik Buterin’s donation of 50 trillion SHIB tokens to India last year. Buterin’s cash gift was to help the country fight the second surge of the COVID-19 pandemic.
The Ethereum CEO also made donations of other cryptocurrencies, such as Bitcoin and Ethereum. Within the same month, WazirX also listed SHIB on its platform. Many Indians are accumulating SHIB tokens because they believe the token’s price can reach $0.01. After all, it serves a greater good. Hence, they think they would make huge fortunes when this happens.