The Shiba Inu ecosystem relies on SHIB as its primary resource. During the bull run in the crypto market in the last quarter of 2021, SHIB reached an all-time high of $0.00008845 on October 28, 2021. There was an average daily trading volume of $629 million for SHIB in May, indicating strong investor interest.
SHIB has overtaken Litecoin as the second most popular cryptocurrency, with an average value of $9.36 million and an average token supply of 470 billion SHIB, according to Be[In]Crypto study.
There has been an increase in investors’ holdings of the currency from the top-100 Ethereum wallet addresses.
More specifically, the total value of SHIB in circulation is $936.61 million, with the top-100 wallets accounting for approximately 15% of all SHIB in existence.
As of May 5, 2022, Gucci has stated that it would begin taking cryptocurrency in certain locations before the end of the month in order to extend its footprint in the crypto-financial industry.
Two NFT collections launched in 2022 have set Gucci on a Web3 development course. The pilot initiative for crypto adoption in the United States will be led by Las Vegas, Miami, New York, Atlanta, and Los Angeles.
All 111 locations in North America will accept bitcoin payments in the future. The cryptocurrency Shiba Inu (SHIB) will be recognized for payment. As for other cryptocurrencies, the fashion company has included Bitcoin (BTC), Litecoin (LTC), WBTC, WBTC Wrapped, ETH, DOGE, BCH, and BCH Cash, in addition to the five stablecoins already mentioned.