Shiba Inu ($SHIB), the popular dogecoin-themed cryptocurrency, has taken a significant step towards wider adoption with its integration with CoinGate, the Lithuanian blockchain payment processor, adding support for it on Polygon and BNB Chain.

Shiba Inu Soars as CoinGate Integration Expands Its Reach

In a significant move towards mainstream adoption, Shiba Inu ($SHIB), the popular meme-inspired cryptocurrency, has recently integrated with CoinGate, Lithuania's blockchain payment processor, adding support for the token on Polygon and Binance Smart Chain.

According to a social media post by CoinGate, the meme-inspired cryptocurrency can now be utilized as a payment method at major retailers including Steam, Nike, Spotify, and Airbnb.

We love SHIB! ❤️
To prove that, we have added #SHIB support for #Polygon and Binance Smart Chain.#Shibarmy, use your $SHIB to book Airbnb, grab the latest games from Steam & PS5, refresh your wardrobe with Nike & Zalando and more!
Explore all options: https://t.co/bhrB9i7OrF pic.twitter.com/2dS2JVD3V8

— CoinGate (@CoinGatecom) May 10, 2024

Acting as a bridge between the worlds of cryptocurrency and traditional finance, CoinGate enables transactions using SHIB for everyday purchases. This news comes amidst a surge in the meme coin's price, with SHIB experiencing a rise of over 10.5% in the last 30 days and a remarkable increase of over 120% year-to-date.

Notably, earlier this month, a large anonymous Shiba Inu whale wallet executed a series of substantial transactions on the popular exchange Robinhood, accumulating a staggering 1.75 trillion SHIB tokens, worth approximately $40 million.

The whale accumulation was first detected by whale-monitoring service Whale Alert, which highlighted two substantial SHIB transactions from the Robinhood wallet to unidentified wallets on the microblogging platform X (formerly Twitter). Both transactions were valued at 875 billion SHIB, amounting to nearly $20 million.

The whale's activity coincides with potential bullish signals for SHIB. According to a recent post by prominent cryptocurrency trader Ali Martinez, Shiba Inu's daily chart appears to be forming a "bull flag," a technical indicator suggestive of an impending price surge.

ShibaInu appears to be forming a bull flag on the daily chart! I'm placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323.

So, if you want to join me in this trade, head to @coinexcom and sign up using my referral link… pic.twitter.com/er1gE0lozV

— Ali (@ali_charts) May 1, 2024

Anticipating this breakout, Martinez disclosed his plan to place buy orders around the $0.000018343 mark, seeking to capitalize on SHIB's potential price appreciation.

In the wake of the CoinGate integration and the accumulation by the Shiba Inu whale, the cryptocurrency's prospects appear increasingly promising. As its utility expands and its community grows, SHIB is poised to make further inroads into the mainstream financial landscape.