Shiba Inu, the second-largest meme cryptocurrency after Dogecoin and Ethereum, has been introduced to the popular ATM network.
According to a Monday news release, popular cryptocurrency ATM operator Bitcoin of America has added meme cryptocurrency Shiba Inu (SHIB) to its roster of supported cryptocurrencies. The kiosks support the purchase and sale of Bitcoin as well as a variety of altcoins, including Dogecoin.
As U.Today previously reported, Bitcoin of America allowed support for Dogecoin, the world’s biggest meme cryptocurrency, last month, resulting in a significant spike in the joke coin’s price.
Despite the latest acquisition, Shiba Inu is still down 3% in the last 24 hours as of press time. The Dogecoin competitor has not risen in response to the news. The SHIB cryptocurrency is now selling at $0.00002587 on the Binance platform, down 70.01 percent from its record high.
ATMs that accept cryptocurrency are comparable to traditional teller machines. They often charge costs in the double digits, which is much more than the fees charged by prominent bitcoin exchanges.
Bitcoin of America launched its universal kiosk a year ago, combining the functions of a cryptocurrency ATM and a standard ATM. Customers may purchase cryptocurrency immediately after discharging cash with their debit card at universal kiosks.
According to Coin ATM Radar statistics, Bitcoin of America operates 1,841 ATMs around the United States. After receiving permission from FinCEN, Bitcoin of America retains a federal registration as a money services firm.
The inclusion of Shiba Inu is anticipated to significantly increase the meme coin’s acceptance. Additionally, the cryptocurrency was added to AMC’s list of supported cryptocurrencies last month.
After being the top performer in 2021 and transforming some early adopters into multimillionaires, the cryptocurrency has been struggling to gain traction in 2022.