Shiba Inu Whale Spent $250,000 In SHIB On Gift Cards

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Shiba Inu logo on a card, held by a hand against a purple background, after a SHIB whale bough $250,000 worth of gift cards.

One lucky family will be inundated with gift cards this Christmas after a Shiba Inu whale purchased a $250,000 gift card from GiftChill using SHIB.

GiftChill, a gift card company that accepts cryptocurrency, revealed the whopping SHIB transaction in a recent press release.

The company’s support for SHIB comes through NOWPayments, a leading crypto payment provider and supporter of Shiba Inu. It also supports the likes of Solana, Cardano, Dogecoin, Bitcoin, Ethereum, and Kishu Inu.

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ShibArmy Purchases Gift Cards With SHIB

Aside from the amount, GiftChill did not disclose any additional details about the SHIB whale’s huge e-gift card purchase.

However, it said that aside from the whale, members of the ShibArmy also purchased gift cards “en masse”.

GiftChill’s CEO, who goes by K.Lawson thanked the ShibArmy for their support. “I was not surprised by the occurrence of such payments because the world is developing and cryptocurrencies have become a reality and a financial revolution,” they said.

In a separate press release from December 21, GiftChill said its revenue had increased since it began accepting Shiba Inu. However, quite curiously, it appears to cite low transaction fees for SHIB as a reason for this.

“Shiba Inu attracts lower transaction costs because the payments happen on Ethereum,” the release said. This is despite the fact that SHIB has had its issues with high gas fees due to running on Ethereum.

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Members of the ShibArmy hope the Shibarium Layer-2 will ease these transaction costs - a fact GiftChill misses. Instead, it cites the potential of Ethereum 2.0 for SHIB.

Cryptocurrency gifting has become quite the trend this holiday season. Robinhood rolled out crypto gifting this month, with some crypto holders opting to gift assets to random strangers online.

Read More: vEmpire Burns 692 Million SHIB Worth $25,000 After Shiba Inu AMA

[Image: Claire Abdo/Unsplash]