Shiba Inu makes history as first meme coin for Web3 food delivery

Shiba Inu makes history as first meme coin for Web3 food delivery

The Shiba Inu community has been in awe from the time the members learned that they could leverage their holdings to pay for Web3 food delivery. The first order has already been placed and settled using SHIB. The order was placed via DevourGO with the mechanism backed by Coinbase Commerce integration.

This has been confirmed by Devour by publishing a post on X. The company has said that DevourGO is now accepting $SHIB via Coinbase Commerce integration, further highlighting that they made the first purchase. Many believe that this is the first time that a meme coin has been used to pay for food delivery. Concrete evidence for the same has not been furnished by the community. Nevertheless, it signals for the first time that holders can use their tokens on DevourGO to order food.

Shelly Rupel, the Chief Executive Officer of Devour, has shed some light on their partnership with Coinbase Commerce. She has said that they are excited to partner with the platform, adding that it unlocks a massive opportunity not just for SHIB holders but for all crypto holders. This statement is rather as true as it can be.

A simple acceptance of SHIB by DevourGO has underlined three crucial aspects. These are the acceptance of SHIB, expanding the utility of the dog-themed meme coin, and establishment of its legitimacy in the market. Most importantly, the excitement pertains to the ability to utilize SHIB for food delivery. The customer base is expected to comprise tech-savvy customers but it could gain momentum because Shiba Inu and Coinbase Commerce are attempting to make the crypto payment process as seamless as possible.

Sentiments are evident from the rise of 0.09% in the token value. SHIB is listed at $0.00002169 at the time of writing this article. However, it reflects a drop of 13.90% and 8.82% in the last 7 days and 30 days, respectively. The 24-hour trading volume has plummeted by 56.76% – potentially signaling that holders are willing to keep their tokens intact.

The market cap is above $12 billion, still away from dethroning Dogecoin ($DOGE) from the top position in the charts of meme coins. Near-term predictions are bullish with the next 5 days predicted to see a jump to $0.00002819. The monthly growth could be for a value of more than $0.00007000. This would highlight a jump of approximately 228% from the current value.

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Prevailing sentiments are bearish probably because of the concerns about inflation elevation. SHIB has retained 74 points per the Fear & Greed Index amid the volatility of around 5.21%. Technical indicators only go on to back the bearish run. The 14-day RSI is 36.26. The 50-day SMA and 200-day SMA are $0.00002417 and $0.00001815, applicable in the same order.

Ankur Sachdev: