- U.S. public firm Kronos accepted SHIB as a payment option.
- In 2021, the company accepted Dogecoin as a payment method.
- Shiba Inu was down by 31.53%, over the past month.
The second largest meme coin Shiba Inu (SHIB) is endorsed as a payment method by the US-based public firm Kronos Advanced Technologies (KNOS) for purchasing air purifiers. The news was disclosed in the company’s June filing with the U.S. Securities and Exchange Commission (SEC).
Reportedly, there are 1.38 million SHIB wallet holders as of 2024. Acknowledging this fact, Kronos cited “the widespread ownership and popularity of SHIB among cryptocurrency enthusiasts” as the reason for accepting SHIB in the filing.
Moreover, Greg Rubin, CEO of Kronos Advanced Technologies Inc., stated:
“We are thrilled to be the first public company to accept SHIB as a form of payment for our air purification products. This move not only demonstrates our commitment to embracing new technologies but also allows us to cater to the growing demand for alternative payment options.”
Previously, in February 2021, KNOS announced on X its acceptance of memecoin Dogecoin (DOGE) as the payment token.
The overall market fluctuation over the past few weeks has impacted SHIB and brought in a fuzz among investors. Shiba Inu (SHIB) experienced a considerable decline within the last 24 hours, dropping 1.23%. At the time of writing, the meme coin’s price was $0.00001718, as per CMC.
Over the past week and month, the asset was down by 1.24% and 31.53%, respectively. In addition, Shibburn’s on-chain data, reveals over 918 million SHIB tokens were burned across 237 transactions in the previous month.
SHIB’s 24-hour trading volume has dropped by 3.54% to $175 million. Although, the RSI stays around 34.07, nearly oversold indicating insufficient momentum for the price shift.
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