Shiba Inu (SHIB) Outshines Dogecoin (DOGE) as Coinbase Delists Bitcoin and Dogecoin
Coinbase has decided to remove Bitcoin and other cryptocurrencies that adopt the UXTO model, including Dogecoin, from its payment service. This news comes as a blow to the DOGE community, as Coinbase had previously added DOGE to its platform for payments. However, Shiba Inu (SHIB) seems to be the winner in this situation. SHIB, often referred to as the “DOGE killer,” is favored due to its status as an ERC-20 token.
Coinbase’s Transformation into an Open Onchain Payments Protocol
Coinbase’s Product Lead for Coinbase Commerce, Lauren Dowling, announced that the new Commerce product will support various assets, mainly ERC-20 tokens, across Base, Polygon, and Ethereum. By embracing smart contracts and other EVM tools, Coinbase aims to transform its payment service into an “open onchain payments protocol.” This shift allows customers to have faster checkouts by using any self-custody EVM wallet for payment.
Shibarium Gains Adoption and Integration
Shibarium, a layer-2 network, continues to gain widespread adoption. Crypto exchange GroveX has recently integrated Shibarium onto its platform. Additionally, more projects are being built on Shibarium, particularly in the areas of Decentralized Finance (DeFi) and non-fungible tokens (NFTs). The partnership between Shibarium and K9 Finance brings Liquid Staking Derivatives (LSD) natively built on the layer-2 network. This partnership is expected to benefit the SHIB token.
Positive Growth for Shiba Inu
The Marketing Lead for Shiba Inu, Lucie, expressed her belief in the ecosystem’s potential and highlighted the growth of beautiful projects on Shibarium. As of now, SHIB is trading at around $0.000009836, showing a nearly 1% increase in the last 24 hours.
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