Shiba Inu (SHIB) may finally be on its way to registering a revival after popular product development and production company Kronos Advanced Technologies Inc. hinted at its support for the memecoin.
Kronos Enables SHIB Payment
In a recent filing with the United States Securities and Exchange Commission (SEC), Kronos announced that it now accepts Shiba Inu as payment for its products.
This makes the air purifying firm one of the first public companies in the United States to accept payment from SHIB. It reflects the firm’s commitment to adopting innovative technologies and cutting-edge solutions.
Kronos intends to include various cryptocurrencies as part of its payment options. The inclusion of Shiba Inu demonstrates the effort that the firm is investing into achieving this feat. It is worth recalling that Kronos was also the first publicly traded company to accept dog-themed memecoin Dogecoin (DOGE) and other cryptocurrencies for its products.
Additionally, it underscores the gradual intersection and integration of cryptocurrencies with the traditional financial sector. Several e-commerce service providers are becoming more crypto-conscious and receptive towards the use of digital assets.
Notably, the addition of this payment alternative is a significant move for the over 1.38 million SHIB wallet holders. These users stand to benefit immensely from this development. According to Greg Rubin, the CEO of Kronos, the move exemplifies their desire to meet growing demand.
Shiba Inu Price May Jump This July
The news of the Shiba Inu payment option could be the push that the memecoin to experience a pivot this month.
Crypto-Vanguard noted that July is historically better than some other months of the year. In the past, only July 2021 ended negative with a slump of 28.5%. July 2022 and 2023 saw Shiba Inu closing on bullish notes, up 13.4% and 11.8% respectively.
For now, SHIB is trading at $0.00001714 with a 1.20% increase within the last 24 hours, possibly contributed by the Kronos update.
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