Robinhood is facing Intense pressure to list Shiba Inu Coin after 2 major listing and CEO Aron of AMC Theatres just accepted Shiba Inu Coin! Price Pump is Confirmed! Further Robert Kiyosaki, Cathie Wood, and Elon Musk are being bullish toward shib ad whales buying Billions and trillions of Shiba Inu. Experts predicted tht Shiba Inu will make Millioniares overnight. NFT GAME COULD 10X IN THE NEXT MONTH! ROBINHOOD and SHIB TOKEN LISTING PARTNERSHIP CONFIRMED! SHIBA INU - ROBINHOOD GOING LIVE AT 8:00AM EST ON NOVEMBER 3RD? SHIBA INU - ROBINHOOD WHEN?! SHIBA INU COIN HOLDERS! SHIBA IN COIN HOLDERS MASSIVE NEWS! Recently, during CNBC's Mad Money, Robinhood CEO, Vladimir Tenev was questioned about Shiba Inu Coin Listing on Robinhood App. When Jim Cramer, the host of the show, asked whether or not the leading online trading app was intended to list the Shiba Inu Token.
ELON MUSK: Shocking Price Prediction 2021 Shiba Inu Coin! Making Overnight Millionaires! Shib news today to hit 1 cent or 1 dollar?. Shiba Inu is Elon Musk's very own Shiba inu and he's hungry for outer-space treats! He's hyper-deflationary and built to reward you. Elon Musk shared a picture of his pet Shiba Inu puppy, Floki. Billionaire tech entrepreneur Elon Musk, it seems, can't resist the temptation. Earlier in September, SpaceX CEO Elon Musk had shared an adorable post welcoming a new member to his family- Floki, the Shiba Inu puppy. The Legislative Agency of El Salvador passed the Bitcoin law on June 8, 2021, proposed by President Nayib Bukele, and declared Bitcoin their national currency
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Shiba Inu may have its first major merchant.
Speaking of visibility, Shiba Inu's greatest chance of success would be to have more merchants accept it as a form of payment. Earlier this week, Shib investors' dreams may have been answered.
During movie-theater chain AMC Entertainment's earnings call, following the release of its third-quarter operating results, CEO Adam Aron noted that his company was "exploring" ways to accept Shib tokens. This would come atop AMC already announcing that it would accept online payments in Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Shiba Inu rival Dogecoin.
For what it's worth, the writing was on the wall that AMC would embrace Shiba Inu last month. On Oct. 29, Aron posted a poll on Twitter asking if Shiba Inu should be accepted to purchase AMC gift cards. A whopping 87.6% of the 153,100 votes were in favor of Shiba Inu being an acceptable payment option. With AMC losing money hand over fist, Aron has demonstrated a willingness -- more so than any CEO of a publicly traded company -- to take his cues on what to do from retail investors in the Twitterverse.
While this would, in theory, be a solid win on paper for Shiba Inu investors, the use case isn't as promising as it might seem. For instance, Shiba Inu is an ERC-20 token that's based on the Ethereum blockchain. Due to its popularity, Ethereum's network is prone to congestion, which can inflate transaction fees. Either Shib holders won't use their tokens due to high transaction fees or AMC will have to eat the conversion costs. Neither pathway is ideal.
To make matters worse, anytime Shib holders use their tokens to pay for goods or services at AMC, it would become a taxable transaction, according to the Internal Revenue Service. Are folks really going to use cryptocurrency to buy a $20 gift card or a $10 movie ticket when they have to go through the trouble of reporting it on their tax filing? My strong suspicion is no.
Shiba Inu is a disaster waiting to happen.
Though the prestige of securing a major merchant might inflate Shib for a very short period of time, it doesn't negate the fact that Shiba Inu has virtually no use outside of a cryptocurrency exchange.
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