Interest in Shiba Inu has plummeted
The Shiba Inu token (SHIB) is trying to regain its strength after reaching an eight-month low in mid-June amid a broader collapse in cryptocurrency prices. Like all cryptocurrencies, Shiba Inu carries risks. However, given all the developments in its ecosystem, there is every reason for SHIB to become the main cryptocurrency of the next decade.
It is expected that meme coins will continue to attract investors, as most blue-chip cryptocurrencies become inaccessible to most investors. In addition, the basics of Shiba Inu are improving, especially after the launch of the Metaverse. In fact, Shiba Inu has the potential to grow in popularity in the future.
Shiba Inu is losing User Interest according to Google Trends
Data from Google Trends show that searches for the keyword "Shiba Inu" have fallen to the level that was observed before the hype in October and November last year. Google Trends is a common way to gauge users' interest in a particular topic. It is also worth noting that the term Shiba Inu is used to describe a specific breed of dog, after which the cryptocurrency is named. Therefore, there are probably even fewer people interested in the coin itself.
On the other hand, the price of Shiba Inu implies the growth of an ever-growing community. According to WhaleStats, the number of Shiba Inu owners continues to grow and currently stands at 1,209,427. Shiba Inu is considered one of the most popular tokens among the 100 largest ETH whales, who now own SHIB worth 563,163,878 USD. The 100 largest Shiba Inu whales have also increased their average SHIB balance by almost 31%.
Meanwhile, the token is becoming increasingly popular as a payment method as Uber Eats and DoorDash have started accepting it in the United States along with other popular cryptocurrencies.
According to CoinMarketCap, SHIB is trading at $0.00001041, which is 70% less than at the beginning of the year.
Salaries in Shiba Inu
In the USA, companies are implementing procedures for paying salaries in Shiba Inu tokens.
The SHIB token is a cryptocurrency that has allowed hundreds of thousands of investors to get acquainted with the crypto world and feel the power of decentralized finance. Currently, more than a million people hold SHIB in their wallets. Many SHIB investors are constantly increasing their SHIB assets. Enterprises whose employees include SHIB investors can offer them the opportunity to receive payment in SHIB. NOW Payments offers a mass payment tool designed for companies that want to integrate SHIB payroll and other types of Shiba mass payments.
Payments to Shiba Inu are a good idea for companies that are tired of filling out thousands of forms and adhering to strict KYC rules. Traditional methods of sending salaries to employees, such as bank transfers or payment processing services such as PayPal, are overly regulated.
This results in an extremely slow payment process. For example, to start using PayPal, users need to provide their personal data and company information, wait for the service to approve the request, and then ask employees to do the same. This wastes precious time for both businesses and their employees and complicates the whole process of sending and receiving wages.
SHIB solves this problem by offering a fast payment method. In fact, to send a salary to SHIB, you will only need a SHIB crypto address. These addresses can be generated in seconds. As soon as the company has its address and the required amount of SHIB in the wallet, it can pay the salary to its employee.
Fast transactions
Also, enterprises that integrate wages using SHIB do not face payment delays. Transactions in SHIB are executed in almost a few minutes. Money transfer, which takes only a couple of minutes, is a phenomenon unheard of in the field of traditional finance. For example, a salary sent via bank transfer may take several days to reach the recipient. Moreover, the situation is aggravated when it is necessary to pay a salary to an employee living abroad. Not many banks provide international payments. Payment processing services that are commonly used for international transfers may not be available in some countries.
All the barriers that are present in traditional finance are absent in the crypto economy. In order to send a salary to SHIB and receive it, people only need an Internet connection. SHIB has no borders, so a SHIB payment can be sent to a person anywhere in the world, and he will receive it in a matter of minutes.
Privacy
Many companies and employees want salary information to remain confidential. There may be a million reasons why they want to do this, including the need to protect confidential financial information from competitors. SHIB, like any other cryptocurrency, offers a combination of transparency and privacy. Although information about all transactions is publicly available, it is not linked to the names or other personal data of the parties. In other words, SHIB does not require users to disclose their identity or other personal data. In fact, SHIB does not ask the holders for anything. This means that all SHIB transactions are anonymous, and no layman has the opportunity to find out the identity of the sender and recipient.
Transparency and accountability
Transparency is the foundation of a successful business. To professionally manage a company's finances, you need to know exactly how much it spends and how much it earns. SHIB can help increase business transparency and accountability. Each SHIB transaction is recorded by the blockchain, and information about it is stored on the network. This means that financial activity data is available 24/7 and year-round. By using SHIB to pay salaries, companies can track how much money they have spent on salaries. It can also prevent any theft.
Author: Elvir, analyst Сoin-signal.com Club
https://coin-signal.com/cryptonews/interest-in-shiba-inu-has-plummeted/
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