Shiba Inu unleashes debit card—spend SHIB, fetch rewards

Shiba Inu has introduced a cryptocurrency debit card in collaboration with Bitget Wallet, according to an announcement from the project, marking an expansion of the token’s payment utility.

The Shiba Inu-branded (SHIB) card offers zero-fee spending with no conversion fees, foreign exchange fees, or hidden spreads, according to the companies. Early adopters will receive Shiba Inu token rewards as part of the onboarding program.

The announcement generated social media attention but resulted in limited immediate price movement, according to market data. Shiba Inu continues to trade significantly below its all-time high price levels.

Shibarium, the project’s layer-2 blockchain launched in 2023, has experienced periodic activity spikes but has faced challenges in maintaining a consistent active user base, according to network data.

Technical chart analysis shows Shiba Inu currently retesting the lower support level of a multi-month descending channel pattern. Trading indicators suggest potential accumulation activity at current price levels, according to technical analysts monitoring the token.

The cryptocurrency meme coin sector has historically experienced capital rotation patterns, with market attention shifting between tokens including Dogecoin (DOGE), Shiba Inu, Floki (FLOKI), Bonk (BONK), Dogwifhat (WIF), and Neiro during previous market cycles.

Maxi Doge, another Dogecoin-themed token, has gained attention amid broader interest in dog-themed cryptocurrencies, coinciding with discussions around potential Dogecoin exchange-traded funds and the DOGE-1 lunar mission project.

Shiba Inu’s market performance and adoption metrics remain subject to broader cryptocurrency market conditions and user adoption of the new payment card functionality.