Shiba Inu (SHIB), one of the most popular meme tokens, has achieved a significant milestone by partnering with Binance Pay and Lyzi. This partnership aims to revolutionize crypto payments in France and Europe by enabling users to make purchases with various cryptocurrencies, including Shiba Inu (SHIB), through the Lyzi App.
Binance and Lyzi, a France-based crypto payments application, have officially joined forces, allowing Binance Pay users to seamlessly process payments using multiple cryptocurrencies, including SHIB, for their everyday transactions. Presently, more than 440 merchants in France have already embraced this solution, and an additional 330 merchants across Europe have expressed interest in integrating the Lyzi app.
SHIB holds a distinctive position among the limited number of crypto assets supported on Binance Pay. Consequently, this partnership is attracting a surge of new users, providing significant benefits and exposure for SHIB. Notably, on May 26, the network growth of Shiba Inu witnessed an increase of 2,538 new addresses, and since then, an average of 1,500 new addresses have been created daily.
Meanwhile, other meme coins that gained popularity in the previous month are now losing momentum, causing investors to shift their focus to SHIB and other resilient meme tokens.
At present, SHIB holders have placed orders to purchase a staggering 1.1 trillion SHIB tokens. However, as competition intensifies, the demand for SHIB is likely to surpass the available supply on exchanges, resulting in upward pressure on its price. Currently, there is already a shortage of 1 billion SHIB tokens, indicating a probable price increase for SHIB.
While this upward trend is promising, investors must remain vigilant about the broader crypto market and regulatory actions. Due to the highly volatile nature of the cryptocurrency market, risks are always present. Nonetheless, SHIB’s positive trajectory and its price performance should be closely monitored in the forthcoming months.