Brazilians Can Now Use SHIB For Payments

Brazilians can now make payments using Shiba Inu (SHIB) after the launch of Binance Pay. Brazil is among the top 10 countries with the most crypto users. The launch of Binance Pay could usher in a whole new wave of crypto users in the region. The launch also coincides with a rise in Shiba Inu (SHIB) wallets. The total number of wallets has now crossed 10 million. Moreover, as per the data on CryptEye, there are 2,418,891 SHIB holders right now, with an increase of 665 in the last 24 hours.

Also Read: Shiba Inu: Shibarium Achieves “Ready” State After Additional Tests

SHIB has seen a significant increase in adoption since the launch of its layer-2 network, Shibarium. Despite the launch not going as smoothly as planned, it has managed to garner the attention of the larger crypto community. The network had to be paused soon after launch due to extremely high traffic. However, the team has enhanced the network and is now ready for redeployment.

Will Shiba Inu see increased adoption?

The Shibarium launch and the ability for more and more people to use SHIB as a means of payment will likely increase demand for the popular memecoin. Shibarium aims to bring a lot of real-world use cases to the ecosystem. The project has its own blockchain, and hence, other projects can build applications on top of it. Moreover, via Binance Pay, SHIB could see an increase in adoption as a payment method.

Also Read: Shiba Inu: Is the SHIB Army Trying To Revive the Network?

The increase in demand could lead to an increase in SHIB’s price in the near future. However, as of now, Shiba Inu (SHIB) continues on a bearish trend. The Shibarium launch was ill-timed as the market witnessed a massive correction, with major projects falling by many percentage points. At press time, SHIB was trading at $0.00000834, down by 10.3% over the previous week.