The lead developer of Shiba Inu (SHIB) tweeted an egg emoji, which speculates that a collaboration with American Newegg may be forthcoming.
Possible collaboration with Newegg
Shiba Inu (SHIB), a Dogecoin-inspired decentralized crypto currency, is currently in a downward spiral. It does this together with the entire crypto world. This is due to the Omikron variant of the COVID-19 virus, which unleashes a great risk-free sentiment around the world.
However, the Shiba Inu bulls just got a glimmer of hope. The lead developer of the project, Shytoshi Kusama, has launched a tweet with an egg emoji and hashtag ‘friendshib’.
This has sparked speculation about a possible collaboration between Shiba Inu and Newegg. Newegg is an American online retailer of computer hardware and consumer electronics. Newegg ranks 90th in a global table of retailers. The company has a turnover of more than $2.7 billion according to a Forbes table. While this is only speculation so far, its realization is currently amplifying Shiba Inu’s growth.
As of last week, Shiba Inu holders were able to purchase a car using their SHIB tokens at the Vegas Auto Gallery. In addition, AMC Entertainment has been planning to accept Dogecoin since the beginning of November. In addition, it aims to accept a large number of other crypto currencies, including the SHIB token. That settlement was finalized last week when Adam Aron, the CEO of AMC, tweeted that his company would integrate Shiba Inu’s SHIB token with its payment system within four months.
Omikron variant bad news for the crypto world
Shiba Inu’s SHIB coin has fallen dramatically in price over the past month. The SHIB token is currently trading at $0.00003836. This was about the same price it had in late October before the token soared and hit a new all-time high of $0.00008845. Since then, the SHIB token is down 56.63 percent. Interestingly, this downward pressure from Shiba Inu has coincided with a major risk-free sentiment affecting the entire crypto world. Bitcoin has also fallen more than 20 percent.
If the Omikron variant gains momentum, it would drastically change the US Federal Reserve’s rate-raising trajectory. This would lead to lower yields on government bonds and a more favorable environment for long-term growth stocks. This should also be beneficial for the crypto world.