Facebook META Just FLIPPED Shiba Inu Coin

Crypto advertising on social media has been a hot topic throughout the year. Recently, Facebook removes its ban on crypto advertisements. Facebook, now rebranded as Meta, is making it easier for crypto platforms to run their advertisements on their social media channels. The metaverse has gained immediate global attention, and this is due to the focus on Facebook’s name change to Meta. Within crypto, none of this is new, this has been going on for some time, with projects like Decentraland, Sand, Star Atlas, and many more.

Earlier, Meta required crypto marketers to submit an application that included any licenses, any public stock listings, and other detailed information. This week’s change will allow crypto exchanges and wallets to be qualified to advertise on the platform if they possess just one of a potential 27 regulatory licenses. The announcement came via a blog post on the platform’s site to start off December.

Will this be the first step into the crypto world for Meta? What do you think about this change? Is Shiba really getting burnt? Recently Shiba Inu news shared stats via a tweet for the burn that happened in November month. Surprisingly, 1.9 billion Shiba tokens got burnt in November month. A total of 381 transactions took place to burn this massive amount. But why token burn is necessary?

The process of removing tokens out of the circulating supply by sending tokens to a dead wallet address is known as the burning process. We all know that Shiba Inu has a massive supply of half a quadrillion tokens, which is reducing daily due to ongoing automatic burn algorithms. If supply reduces, the price will gradually increase.

For Shiba Inu, the race continues as it was recently listed on the Kraken crypto exchange. Robinhood, one of the largest trading platforms for its competitor Dogecoin, is still yet to list the meme coin. Shiba Inu coin has been on the rebound since opened up for trading. The Dogecoin killer had not had the best of weeks as it had dipped to the 300 Satoshi units range following the market crash.

The dips have caused some to panic and question the viability of the cryptocurrency going forward. Many shib holders sold off their coins in this consolidation phase. However, it has proved to be a buying opportunity for others who have loaded up on Shiba Inu. Whales have taken the dip in the price of the meme coin as an opportunity to fill their bags with more shib tokens.

Data shows that whales have made good use of these low momentum weeks to increase their holdings, with millions of dollars flowing into Shiba Inu in a week. One Ethereum whale had purchased approximately $1.1 million worth of Shiba Inu on Tuesday as mass accumulation continued among the whales. This is important to note that Ethereum whales have gone on a Shiba Inu buying trend.

On November 29th, the top 1,000 Ethereum wallets had collectively increased their holdings in the meme coin by 42 percent. These wallets now hold a minimum of 2.5 billion tokens each. Moving next to our biggest update from Newegg earlier this week, the tech-focused retailer Newegg posted a teaser on Twitter announcing that Shib is coming soon to the platform. Now, the company has announced a few more updates in a new tweet.

According to the new info, Newegg plans to start accepting Shiba Inu as a payment option by December. Newegg has been accepting cryptocurrencies for a while now. Early in the year, Newegg added Shiba rival Dogecoin as an option, followed by Litecoin in mid-2021. Currently, the platform supports 11 different cryptocurrencies. The company uses BitPay to process digital currency payments. Will this boost the Shiba Inu price further? Well, yes.

Acceptance of a currency in the real world increases the demand for tokens and hence the price. So we can expect a rise in next coming days. Newegg director of brand marketing Andrew Choi said:

“We are always looking for ways to innovate The shopping experience on Newegg.com, and something our customers want is greater flexibility and options, including the ability to pay with a wide range of cryptocurrencies.”

Can Shib hit one cent? In short, not for now. To understand this, consider this scenario, 37 trillion dollars is circulating money in the world, out of which around one trillion dollars is invested in all combined cryptocurrencies. If we consider the total supply of Shiba Inu, which is one quadrillion, also, let’s reduce the 50 percent locked coins by Uniswap, We are now left with 500 trillion coins.

And if the Shiba Market itself goes to 10 trillion dollars in the near future, which is quite unlikely but let’s assume. Then these 500 trillion coins are worth 10 trillion dollars, which still makes it price two cents per token. So it can be easily observed that even with very rough and huge figures of money, Shib still did not go even above two cents. So the possibility of hitting one cent in near future is quite difficult, but to hit $1 is quite impossible for now.