Newegg Commerce, a major online retailer, may soon accept payments in the meme-inspired cryptocurrency Shiba Inu ($SHIB), at least according to its supporters who noted the company’s official Twitter profile is in talks with SHIB’s developers.

As first reported by Benzinga, Newegg’s official Twitter account tagged Shiba Inu’s official account on the microblogging platform as well as its project leader asking them for a direct message as they had a question to ask.

The tweet was quickly interpreted by the community as a hint the Nasdaq-listed retailer was looking to accept payments in the meme-inspired cryptocurrency, which saw its price surge this year over a retail trading frenzy that allowed one investor who bet $8,000 in the cryptocurrency to at one point have $5.7 billion in its wallet.

Newegg’s tweet comes after it revealed in late April it was going to accept payments in Shiba Inu’s rival meme coin Dogecoin ($DOGE), which is now usable on the company’s website to buy consumer electronics, entertainment, smart home, and gaming products.

Notably, Newegg was one of the first major retailers to start accepting cryptocurrency payments. Back in 2014, the company started accepting Bitcoin ($BTC) for payments and has since expanded its offering to include $LTC, $BCH, $ETH, $USDC, $PAX, $BUSD, $USDT, $WBTC,  and $DAI.

As CryptoGlobe reported, the number of merchants accepting SHIB has recently grown after popular cryptocurrency payments processor CoinGate added the meme-inspired cryptocurrency to its platform with over 500 onboarded merchants.

Notably, the number of Ethereum addresses holding SHIB dropped earlier this month as the price of the cryptoasset plunged along with the rest of the cryptocurrency market. According to data from Ethereum blockchain explorer Etherscan, there are currently 981,163 addresses holding the meme-inspired cryptocurrency, a significant decrease from the 992,900 that held SHIB earlier this month.


The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.


Featured image via Pixabay