- PayPal and MoonPay join forces, making it easier for US users to buy SHIB and other cryptocurrencies directly.
- SHIB’s price surged 2% in 24 hours, driven by an increased burn rate and growing interest, showcasing resilience amidst market fluctuations.
Cryptocurrency enthusiasts in the United States have reason to rejoice as Shiba Inu (SHIB) tokens are now accessible for purchase through PayPal, thanks to a recent partnership with MoonPay, a leading crypto payment processor. This collaboration aims to simplify the transition from fiat currency to digital assets, providing PayPal users with a convenient avenue to buy cryptocurrencies like SHIB.
Exciting news from MoonPay!
Today, we’re thrilled to announce a game-changing integration: MoonPay has partnered with @PayPal to offer seamless fiat-to-crypto transactions for users in the U.S.!
— MoonPay (@moonpay) May 2, 2024
MoonPay’s integration with PayPal allows users to enjoy a variety of options as PayPal supports as many as a hundred and ten cryptocurrencies. Along with Shiba Inu, other renowned cryptocurrencies like Bitcoin, Ethereum, Cardano, and Solana can be bought using PayPal money, debit cards, or direct bank transfers. This expanded offering provides users greater flexibility and accessibility in their crypto investment endeavors. Customers no longer have to create new accounts or manually enter payment information, allowing for a more seamless process and higher customer satisfaction.
Additionally, by integrating PayPal, MoonPay aims to significantly lower the barrier to entry for new users and expand access to cryptocurrencies. Importantly, the partnership ensures users’ financial information remains secure, as PayPal does not share full financial data during transactions.
Anticipated Expansion and Future Developments
Though the present cryptocurrency purchases via PayPal are limited to MoonPay users who have access to it in the U.S., plans are to extend this service across MoonPay’s partner networks globally by the end of the year. Additionally, MoonPay has announced intentions to enable cryptocurrency sales through PayPal for U.S. users in the coming months, with plans for further expansion into the U.K. and the EU. These developments reflect the increasing acceptance and integration of cryptocurrencies into well-established financial platforms.
In addition to SHIB, MoonPay has also enabled its users to investigate and invest in other tokens of the Shiba Inu ecosystem after the PayPal integration. It is interesting to note that last year, Shibarium-based decentralized exchange Marswap introduced a feature that allowed users to trade with Shiba Inu ecosystem token BONE and pay using PayPal, further diversifying investment opportunities within the ecosystem.
Rising Interest and Resilience of Shiba Inu (SHIB)
Despite recent market fluctuations, Shiba Inu has demonstrated remarkable resilience, maintaining an upward trajectory fueled by increasing investor interest. The token’s price has surged by 12.1% in the last 24 hours, reaching $0.00002461, buoyed by positive sentiment surrounding the PayPal integration. Moreover, Shiba Inu’s burn rate has experienced a significant surge of 1009%, leading to the destruction of 29.11 million SHIB tokens and contributing to a reduction in the token’s market supply.
Data from Coinglass indicates a notable decrease in selling pressure on SHIB, with liquidations totaling $90.39K. Furthermore, the open interest has surged by 13.73%, reaching $64.76 million, reflecting growing investor interest in the meme-inspired cryptocurrency. Despite significant sell-offs by wallets, Shiba Inu has defied expectations, maintaining its upward movement and garnering optimism within the crypto community.
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