Shiba

Liquid Staking Derivatives

Dogecoin

Shiba Inu

<a href="https://bitcoinist.com/analyst-makes-bold-2024-bull-run-price-prediction-shiba-inu-wont-reach-1-solana-will-outshine-ethereum-retik-finance-retik-will-breach-15-mark/">Shiba Inu (SHIB)</a> has gotten one over its meme coin counterpart, <a href="https://bitcoinist.com/2-altcoins-dogecoin-top-10/">Dogecoin (DOGE)</a>, following Coinbase’s decision to delist crypto tokens adopting the UXTO model, including the <a href="https://bitcoinist.com/will-bitcoin-hit-turbulence-40-correction-eyed-before-reaching-150000-analyst-warns/">flagship cryptocurrency, Bitcoin</a>, from its payment service.&nbsp; 
<h2 id="coinbase-delists-bitcoin-and-dogecoin-but-keeps-shiba-inu">Coinbase Delists Bitcoin And Dogecoin, But Keeps Shiba Inu</h2> 
The Product Lead for <a href="https://bitcoinist.com/google-coinbase-partner-enable-cloud-crypto-payment/">Coinbase Commerce</a>, Lauren Dowling, revealed in an X (formerly Twitter) <a href="https://x.com/Lauren_Dowling_/status/1758985684340322656?s=20" rel="nofollow" target="_blank">post</a> that Coinbase will remove Bitcoin and other native UTXO support from its payment service. The UXTO (unspent transaction output) model is known to be also used by coins like <a href="https://bitcoinist.com/litecoin-saved-dogecoin/">Dogecoin (DOGE), Litecoin (LTC</a>), and Bitcoin Cash (BCH) which were all forked from Bitcoin.&nbsp; 
Coinbase had, in 2021, <a href="https://bitcoinist.com/dogecoin-users-can-now-checkout-using-doge-on-coinbase-commerce/">added DOGE to its payment service</a>, a move which at then was a major boost for the meme coin’s adoption. That allowed Dogecoin users to be able to make payments on the platform using the crypto token. As such, Coinbase’s latest decision is no doubt disheartening to the <a href="https://bitcoinist.com/dogecoin-bitcoin-spot-etfs/">DOGE community</a>.&nbsp; 
Interestingly, SHIB, which is usually referred to as the ‘<a href="https://bitcoinist.com/shiba-inu-team-discloses-projects-true-strength/">DOGE killer</a>,’ looks to be more favored in this instance, considering its status as an ERC-20 token. Dowling further revealed in her X post that the new Commerce product will support hundreds of assets (mainly ERC-20s) across Base, Polygon, and Ethereum.&nbsp; 
These ERC-20 tokens (including SHIB) are also said to be the way in which customers can have the fastest checkout, as they can now use any self-custody EVM wallet to pay. This all forms part of <a href="https://www.newsbtc.com/coinbase/4-surprising-insights-from-coinbase-earnings-coin-sees-bullish-surge/#:~:text=Coinbase%20Had%20A%20Profitable%20Fourth,loss%20for%20its%20net%20income." rel="nofollow noopener" target="_blank">Coinbase’s decision</a> to transform its payment service to an “open onchain payments protocol,” which leverages smart contracts and other EVM tools.&nbsp; 
<h2 id="shibarium-still-growing-strong">Shibarium Still Growing Strong</h2> 
<a href="https://bitcoinist.com/shiba-inu-shibarium-public/">Layer-2 network Shibarium</a> continues to gain massive adoption, with crypto exchange GroveX recently <a href="https://x.com/GroveXchange/status/1758807441133752582?s=20" rel="nofollow" target="_blank">revealing</a> that they have already integrated the network onto their platform. Meanwhile, more projects continue to be built on Shibarium, something which is also a positive sign for the Shiba Inu ecosystem. 
<a href="https://bitcoinist.com/shiba-inu-shib-2024/">Shiba Inu’s Marketing Lead, Lucie</a>, mentioned in an <a href="https://x.com/LucieSHIB/status/1759163170436821354?s=20" rel="nofollow" target="_blank">X post</a> how she believes that “something special” is going on within the ecosystem. She also highlighted some of the “beautiful projects” that are growing on Shibarium. Particularly, the layer-2 network looks to be gaining ground in the area of Decentralized Finance (DeFi) and non-fungible tokens (NFTs).&nbsp; 
Shibarium <a href="https://bitcoinist.com/shiba-inu-shibarium-new-partner/">secured a partnership</a> with K9 Finance, a Liquid Staking Derivatives (LSD) natively built on the layer-2 network. The LSD platform is expected to play a similar role to what <a href="https://bitcoinist.com/ethereum-foundation-insider-lido-system-threat/">Lido Finance</a> plays for Ethereum. This is also a <a href="https://bitcoinist.com/shiba-inu-latest-developments/">welcome development</a>, as it will ultimately be beneficial for the SHIB token.&nbsp;&nbsp; 
At the time of writing, SHIB is trading at around $0.000009836, up almost 1% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="nofollow noopener" target="_blank">data</a> from CoinMarketCap.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/ojhKx4yl/" alt="Shiba Inu price chart from Tradingview.com (Dogecoin Bitcoin)" width="3286" height="1530">

Shiba Inu Stands Tall As Coinbase Delists Bitcoin, Dogecoin From Payment Service

Table of Contents

Bitcoinist

Other articles published on Feb 19, 2024

Bitcoin Stays Resilient as Halving Approaches

Bitcoin Soars Past $52,000, Altcoins Break Barriers in Positive Market Trend

Bitcoin Exchange Binance Made a Significant Change Regarding the Leveraged Tokens Listed on its P...

Blockchain analytics firm Crystal appoints ex-Ripple exec as CEO

Worldcoin (WLD) Jumps 40% to Hit New ATH on Sustained OpenAI Hype

Cardano Racers Readies for Mainnet Release!

Join our free newsletter for daily crypto updates!