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Shiba Inu’s (SHIB) Lead Developer Tweets an Egg Emoji, Spurring Hypothesis Concerning a Partnership With Laptop {Hardware} Retailer Newegg

Shiba Inu (SHIB), a Dogecoin-inspired decentralized cryptocurrency, is at the moment in a tailspin together with the broader crypto sphere because the Omicron variant of the COVID-19 virus unleashes a broad-based risk-off sentiment throughout the globe.

Towards this bleak backdrop, Shiba Inu bulls simply acquired a glimmer of hope. To wit, the undertaking’s lead developer Shytoshi Kusama has fired off a tweet with an egg emoji and hashtag “friendshib”:

NVIDIA’s CMP 170HX With An Onboard GA100 GPU Solely Has One $5K Function

This has given rise to rampant hypothesis of Shiba Inu’s doable partnership with Newegg, an internet retailer of things together with laptop {hardware} and client electronics.

Keep in mind that Newegg ranks 90th on a world tabulation of outlets, with a income of over $2.7 billion as per a tabulation by Forbes. Whereas this doable improvement stays confined to the realm of hypothesis, for now, its realization would bolster Shiba Inu’s rising mainstream profile. We had famous final week that Shiba Inu holders may now buy a automotive with their SHIB tokens on the Vegas Auto Gallery. Furthermore, we had reported in early November that AMC Leisure (NYSE: AMC) was about to simply accept Dogecoin amongst a bunch of different cryptocurrencies, together with the SHIB token. That association was finalized final week when Adam Aron, the CEO of AMC, tweeted that his firm would combine Shiba Inu’s SHIB token with its cost system inside 4 months.

Furthermore, the listing of exchanges that settle for Shiba Inu additionally continues to develop, with Coinbase and Gemini Trade that includes prominently in that listing. After all, SHIB proponents are nonetheless ready for an official acceptance announcement from Kraken Trade and Robinhood.

Supply: https://coinmarketcap.com/currencies/shiba-inu/

Shiba Inu’s SHIB coin has seen its value decline dramatically over the previous month. As an illustration, the SHIB token is at the moment buying and selling at $0.00003836, roughly the identical value towards the top of October and earlier than the token surged dramatically to kind a brand new all-time excessive at $0.00008845. Relative to that zenith, the SHIB token is now down 56.63 %. Apparently, Shiba Inu’s newest downward push coincides with a significant risk-off rally that has effects on the whole thing of the crypto sphere, with Bitcoin additionally down over 20 %. Paradoxically, ought to the Omicron variant acquire energy, it might dramatically alter the US Federal Reserve’s price hike trajectory, resulting in decrease Treasury yields and a extra conducive surroundings for long-duration progress shares. Such an surroundings also needs to show conducive for the crypto sphere given the chance price dynamics between the US 10-year yield and Bitcoin, the place a plunge within the 10-year yield would scale back the attraction for US Treasuries, thereby paving the way in which for the influx of funds into Bitcoin and different cryptocurrencies.