Newegg Will Accept Shiba Inu (SHIB) Payments From Monday

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Computer and electronics retailer Newegg will allow its customers to pay with SHIB on Monday.

The company revealed its "friendSHIB" with Shiba Inu in a Twitter post linking to its store that said: "Coming soon to Newegg...$SHIB."

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Further adoption is seen as vital to cryptocurrencies such as SHIB that are attempting to shun the memecoin identity. Currently, the payment system NOWPayments allows merchants to accept SHIB. AMC will begin accepting SHIB online from early next year via BitPay, its CEO said.

Newegg SHIB Payments

While Newegg gave very few additional details or the date for its SHIB acceptance, SHIB's volunteer project lead gave further information in a blog post about the upcoming Shiba Inu Game.

"Now, with this new FriendShib, this CyberMonday, you can actually USE your SHIB for a purchase," he said.

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Putting SHIB in context, buying a $364.99 NVIDIA GeForce GTX 1650 from Newegg would cost 9.17m SHIB.

SHIB is not the first cryptocurrency that Newegg supports. It also allows customers to use the likes of Bitcoin, Ethereum and Dogecoin through BitPay.

Earlier this month, Newegg also announced it would offer a discount of 20% on Black Friday purchases worth over $500 if bought using cryptocurrency.

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The ShibArmy grew excited about a Newegg partnership on November 20 when its official Twitter account asked Shytoshi to get in contact with the company.

However, given the previous SHIB listing rumours surrounding Robinhood and Kraken, this was a much more cautious approach.

Caution was then thrown out of the window, however. Both the official SHIB account and Shytoshi tweeted the Egg emoji with the caption '#friendshib', just mere hours before the announcement.

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We'll be keeping a close eye on SHIB's price (currently down 6.2% in the last seven days) to see whether this latest line of adoption has a positive impact.

Read More: Here's How Shiba Inu's Stablecoin (SHI) Could Work

[Image: Christian Wiediger/Unsplash]