One of the most talked-about cryptocurrency ventures ever is Shiba Inu (SHIB). In just two years of existence, its popularity has skyrocketed. The project is also the foundation for many dreams. Many people believe that SHIB will return to the moon soon and offer substantial profits.
Due to Shiba Inu’s growing popularity, many companies now want to accept the token with a dog motif. Most members of the crypto community are familiar with the Shib Army and its considerable size. Therefore, accepting a token that is so well-known as a business only makes sense.
The W Hotel in Dubai, UAE, is the most recent to get on the SHIB-accepting train (United Arab Emirates). The W Hotel is a five-star luxury hotel with a private beach with views of the Arabian Gulf and city skyline.
W Hotels is the newest member of the club, even though Travala had started taking SHIB in early 2022.
Dubai is also one of the world’s crypto-friendliest cities. Since many companies now accept cryptocurrency in exchange for their goods and services, the region’s crypto industry has fully developed. Globally, everyone is aware of Dubai’s obsession with cryptocurrencies. Numerous well-known cryptocurrency companies have relocated their headquarters to Dubai or started to provide their services there. Industry behemoths like Binance, Crypto.com, FTX, and others provide services in Dubai. At the moment, the region boasts some of the most business- and cryptocurrency-friendly policies. Therefore, it is not surprising that businesses, large and small, wish to establish their presence in that area.
Shiba Inu’s Plunging Story For The Day
SHIB is currently on the decline, along with the overall crypto market. Two upcoming occurrences are most likely to blame for the current situation. First of all, tomorrow is the U.S. midterm election. The markets typically see some turbulence around elections. The main topics of discussion this year are cost increases and inflation. Second, just two days after the midterm elections, on November 10, the U.S. Federal Reserve will announce its October inflation figures. Analysts predict that the inflation rate will be 7.9%, 0.3% lower than in September.
At the time of writing, Shiba Inu was priced at $0.00001095 with a daily drop of 0.01% according to CoinMarketCap.