Bitcoin, which fell to the level of $ 33,000 on Monday, managed to rise above $ 36,000. BTC's 13.55% drop over the past seven days is also interpreted as a slight drop compared to major altcoins. Binance Coin dropped 22.77% and Cardano 33.63%, while Ethereum fell 24.28% in a week. SHIB is trading at $0.00002057.
Payment service BitPay announced this announcement on Twitter, which will make Amazon accept SHIB as a payment method.
"You can shop on Amazon with SHIB using the BitPay app."
Besides Amazon, SHIB holders can also make payments on other platforms BitPay has agreements with, including Spotify, Google Play, Uber and Hotels.com.
Bitpay first added support for the Shiba Inu on December 9. Bitpay has made it possible for thousands of businesses to accept SHIB as a means of payment. With the addition of SHIB as a payment option, the cryptocurrencies BitPay has adopted as a means of payment are: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Wrapped BTC (WBTC), Dogecoin (DOGE), Bitcoin Cash ( BCH) and Shiba Inu (SHIB).
The meme altcoin is still severely impacted by the significant correction that hit the crypto market. SHIB is currently trading at $0.00002047, down 3%, according to data from Coinmarketcap.
Volatility for Shiba Inu
The Shiba Inu experienced huge sell-offs in Friday and Saturday trading, but then took a sigh of relief with a 37 percent price increase. Keith Noona, an analyst at The Motley Fool, said that the fluctuation in risk appetite in the market could make SHIB exhibit more volatile price fluctuations in the near future. During the correction, SHIB had lost around 30 percent.
The meme altcoin, which does not fall on the agenda all over the world with its huge return, continues to increase the number of investors. According to Noona, the overall recovery in the cryptocurrency market and the adoption of SHIB both on exchanges and as a payment mechanism are among the factors that will trigger the price increase in the short and long term.