Acceptance of cryptocurrencies as a utility is on the rise following the mainstream adoption of digital assets and their integration as payment for goods and services.
Another win has been recorded by the two leading joke-themed cryptocurrencies, Dogecoin and Shiba Inu, which have been approved for payment. Noyack Logistics, a United States-based real estate supply chain company, has begun accepting both as payment via Bitpay. The new company becomes the latest to accept payment in Dogecoin.
The new partnership with BitPay allows investors to fund their service commitments with the company with any cryptocurrency of their choice.
The CEO of Bitpay, Stephen Pair, disclosed that the partnership with the logistics firm arises due to the number of investors looking to move their crypto funds into real businesses like property and real estate.
Integrating the BitPay payment system into the company allows both parties to meet their obligations to render services to the expanding client base.
Shib’s Non-stop Burning
The past 24 hours have seen the burning of about a billion SHIB, with the burn rate increasing by up to 1,892%. According to the website of Shibburn, about 598,032,837 SHIB have so far been burned.
A previous report by U.Today revealed how an unknown whale bought a massive stash of SHIB worth $6,143,035 in fiat at the purchase.
The price of the rival meme token has dropped significantly since attaining a peak value of $0.00002292 on March 17 and a loss of value of 2.25%. Shiba Inu, at present, is trading at $0.00002192.
Although the price of Shiba Inu is consolidating in a rather tight trading session, some experts believe that a price rebound is imminent.
Speculations Driving DOGE Price
Following the remark made by Elon Musk about his crypto portfolios and why he is not looking to sell his stash of Dogecoin tokens, the price of the popular meme cryptocurrency rose by 9%.
Musk made the statement after being asked about his plan to part ways with his crypto assets, to which he responded by saying that he was keeping his crypto assets. He also added that he bought both of his digital currencies out of curiosity and belonged to the crypto community.
For emphasis, the price of Dogecoin often appears to move upward whenever the Tesla boss makes a statement or remark about his assets. This has been the talking point for critics of the meme cryptocurrency, who always point to its price volatility, which is mostly influenced by the actions of one man.
Nonetheless, the performance of Dogecoin at the moment is nothing to write home about, as the consistent market correction has been a regular occurrence. The price has been up and down for some time, indicating a bearish market period for the DOGE token.
Despite the negative price action, a bullish rally is expected to follow soon. The ongoing military offensive in Ukraine and Russia is another factor in the price instability that makes Dogecoin’s value fluctuate.
