- SHIB price surged 25% following PayPal’s integration in the U.S.
- SHIB holders moved 32 billion tokens into long-term storage, indicating bullish sentiment.
- The partnership allows U.S. users to buy SHIB via PayPal, MoonPay, and debit cards.
Shiba Inu’s price surged by 25% following PayPal’s integration of SHIB into its platform for U.S. users. The groundbreaking partnership with fintech MoonPay allows seamless purchases of SHIB through PayPal’s extensive payment methods, driving increased demand and optimism among SHIB holders.
Shiba Inu (SHIB) experienced a significant price surge after PayPal announced the integration of SHIB tokens into its platform in the U.S. This development, facilitated through a partnership with MoonPay, allows PayPal’s vast U.S. user base to acquire the popular meme coin more easily using traditional payment methods like debit cards, bank transfers, and PayPal balances.
Recently, PayPal enabled U.S. merchants to buy, hold, and sell cryptocurrency directly from their PayPal business account. For now, this functionality for Business Accounts will not be available in New York State. The payment behemoth’s latest initiative seeks to boost cryptocurrency’s utility by empowering millions of merchants in the U.S. Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, PayPal stated:
Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We’re excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly.
PayPal’s Bet on Shiba Inu Could Pay Off Big
That said, the announcement triggered a 25% rise in SHIB’s value, reflecting growing investor enthusiasm for the token. This integration also highlights PayPal’s broader push into the cryptocurrency space, adding Shiba Inu to its offerings alongside other major cryptocurrencies like Bitcoin and Ethereum. SHIB holders are increasingly moving tokens into long-term storage, indicating optimism about sustained price growth. As of now, SHIB’s price is hovering around $0.000030, marking a significant rally from earlier levels.
PayPal’s decision to support Shiba Inu also underscores a shift in mainstream financial platforms toward embracing a wider array of digital assets, making cryptocurrency more accessible to everyday users.
